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WESTMINSTER, CA-Four family members, all doctors, acquire 22,000 sf in two buildings as they work up plans to convert the property into medical office space, a particularly high-demand product around town.
CHICAGO-The city will pay Simon Property Group nearly $564,000 through 2007 under a five-year renewal for 5,808 sf at the mall REIT's Yard Plaza shopping center at 4600 S. Damen Ave.
LONDON-In the biggest industrial deal so far this year in South Wales, furniture retailer MFI has taken the 257,589-sf former Alcoa unit at Llantrisant Business Park, Llantrisant.
NEW YORK CITY-A joint venture specializing in converting office buildings for residential use has purchased the nearly one million-sf 15 Broad St. and adjacent 23 Wall St. properties.
LOS ANGELES-The Building Owners and Managers Association agrees to a five-year pact with the janitors' union after weeks of negotiations. The wage package delivers increases ranging from 4% to 13% for the three levels of workers.
LONG BEACH, CA-A private investor from LA acquires the 76-unit Long Beach Terrace Apartments, where the plan now is to upgrade the 90%-leased complex and bring in new management for the Ocean Boulevard property.
BOSTON-Joseph F. Fallon and Paul Roiff hope to begin construction this summer on a $39.5-million mixed-use project at 301-19 Columbus Ave., with 41 three-bedroom units expected to top $1 million in price.