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CHICAGO-Harris Associates, LP's 56,000-sf renewal and expansion brings occupancy to 98%. Since Trizec Properties, Inc.'s 1999 renovation, occupancy has stayed at or above 95% while Central Loop vacancy has surpassed double digits.
MIAMI-The high-rise condominium development, which is planned for two towers, 25 stories each, is expected to be completed in December 2004. This follows a recently completed transaction for a $41 million construction loan with Fremont Investment & Loan.
SAN DIEGO-Pacifica Group acquires the newly constructed property, known as Copley Corporate Center. Encompassing 120,483 sf, the building is 100% leased.
NEWPORT BEACH, CA-Frederick J. Stemmler of Hopkins Real Estate Group is named division alliance co-chair for 2003-04 by the International Council of Shopping Centers. He gets the Western US as his territory.
CARNEY'S POINT TWP., NJ-The property, which has one fully occupied building, a second available for lease and four development parcels, is owned by the Delaware River and Bay Authority.
BOCA RATON, FL-The educational services provider and wholly owned subsidiary of The Washington Post Co. is leasing the space in a deal worth more than $1 million from Nortel Networks Inc., which is vacating its four locations in Boca Raton, FL.
PLAINSBORO, NJ-GMAC Commercial Mortgage arranged the funding for the asset, a 102,000-sf, three-building multi-tenant property owned by a local partnership.
HOUSTON-Marking 20 years in the building, McDonald's renews for another seven years on a 17,934-sf office in the far northwest submarket. A West Side tenant also delivers an office deal, taking 5,777 sf in Norfolk Tower.
LONDON-Helios Properties has unveiled plans for a new one million-sf distribution warehouse park on the outskirts of Darlington in the north-east of England.
LONDON-The UK government has selected Liverpool as its nomination for European Capital of Culture in 2008, an announcement expected to bring about pounds 2 billion ($3.2 billion) of regeneration.