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IRVINE,CA-Oce Printing Systems combines two existing offices in Irvine into class A space at Jamboree Center, expecting to make the move near year's end. The 10-year pact carries a $5-million price tag.
PLANO, TX-The capital will pay off a $180-million financing and pump another $20 million to $30 million of equity into the 1.4-million-sf Shops at Willow Bend. The mall, in stiff competition for consumers' dollars, will get another five years to stabilize.
LONDON-Beleaguered hotel chain Le Meridien is to revalue its global portfolio. The move is thought to presage possible sell-off of properties in order to reduce the company's debt mountain.
SPOKANE, WA-The locally based real estate development company is renovating several older buildings in Downtown Spokane and adding a couple of new ones en route to a mixed-use development that will include 130 apartment units over 37,000 sf of retail space.
PHOENIX-JLR Investments, owner of more than 1,000 Arizona apartments, gets about $3.6 million for the 96-unit Aspen Ridge and $1.5 million for the 29-unit Las Casa. Separate California buyers write the checks.
ORLANDO-The 37-year-old, 90-unit GrandeVille on Delaney Apartments complex at 1100 South Delaney Ave. is being converted to Lakeside at Delaney Park, a five-story condominium community with asking prices of $100,000 to $350,000 per unit.
IRVINE,CA-Oce Printing Systems combines two existing offices in Irvine into class A space at Jamboree Center, expecting to make the move near year's end. The 10-year pact carries a $5-million price tag.
NEW YORK CITY-Making a move across town, the multifamily development firm has purchased 5 East 44th St. from a Japanese newspaper. The company will occupy five floors of the six-story building.
ARLINGTON, VA-As US Airways tries to recoup after filing for bankruptcy last August, the company taps longtime aviation aficionado Wayne Herndon to hold down the property fort as VP for corporate real estate.
ATLANTA-Institutional Shareholders Services Inc. urges Post Properties' shareholders to vote for the existing executive slate and against former chairman John A. Williams--who is taking out advertisements to promote his candidates--at the May 22 meeting.