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GREENWICH, CT-Local developer and commercial property owner John Fareri is under contract to acquire a vacant 1.6-acre parcel of land that was to be a BMW automobile showroom and service center for $5.2 million.
CLERMONT, FL-This city's planning and zoning commission approved the Bentonville, AR-based retailer's plans to build a 218,685-sf store at an estimated hard construction cost of $16 million, but the full city council still has to vote on the venture June 24.
LOS ANGELES-The real estate services firm has picked up leasing and property management contracts for new assignments totaling more than 1.4 million sf.
PORTLAND-The publicly traded hotelier cuts a 10-year management deal with publicly traded Grill Concepts, which will be paid to manage a Daily Grill brand restaurant in hotel's 3,700-sf space later this summer, replacing Oritalia.
MACOMB COUNTY, MI-Riverview and Trenton don't want a new storage yard along the Detroit River. The municipalities would rather allow mixed-use properties with public river access.
CHICAGO-Cincinnati-based consumer products giant Procter & Gamble Co. chooses the real estate firm to oversee its 13.8 million sf of assets 60 countries on six continents, and turns over 600 employees to help do the job.
ATLANTA-In what may be the swiftest bulk purchase of class A office properties on record; Wells Real Estate Investment Trust, in the last 40 days, has added 4.9 million sf in six metro markets to its portfolio of managed assets valued at $3.3 billion.
REDLANDS, CA-A Santa Ana private investor turns around the proceeds to buy the fully occupied, 96,964-sf Pavilion from a Los Angeles-based investor. Demographically, a good return is likely from a 12-year-old center that dominates its trade area.