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DALLAS-Lender Frontier Capital unloads two foreclosed properties about a half block apart in the Oak Cliff section of Dallas. The non-profit buyer, Jarrell Community Development, will use 1031 Exchange money to reposition the 50%-leased properties.
MIAMI-Avatar Holdings Inc. of Coral Gables, FL anticipates construction might start on the $200 million, 250-unit ultra-luxury condominium development on Hollywood Beach, FL as early as the fourth quarter.
QUANTICO, VA-The creation of the 120,000-sf National Museum of the Marine Corps and Heritage Center takes a step forward with the announcement of a September groundbreaking date.
FARMERS BRANCH, TX-Two deals, practically back to back, fill a warehouse vacated six months ago by the discount retailer. KidKraft moves into 50,520 sf while Inside Out Shops, which just signed for the balance, will occupy in the fall.
CLARKSVILLE, VA-New York's The DRS Group, a document management services firm, selects Mecklenburg County's Lake Country Industrial Park for the home of a new 32,000-sf document conversion facility.
PHOENIX-The three-year-old division of the Weitz Co. hires Armondo Chavez, formerly with hardison/downey construction in Phoenix. Chavez's team focuses on TI work and smaller scale contracting projects.
LONDON-There's a new product on the market designed to speed up the property investment market and make property investment as efficient as stock or bond trading
BELLFLOWER, CA-A Woodland Hills investor buys the 52-unit Palm Tree Apartments from a private investor based here. Units average 826 sf and the monthly rents range from $675 to $1,100 in the 100%-occupied complex.
HOUSTON-TheraWorks takes 2,200 sf in a 27,000-sf office building of predominantly medical users. Finish-out is underway for the Rockmead Professional Center office, with occupancy eyed for mid-July.