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BOLINGBROOK, IL-East Dundee-based ML Realty Partners fends off multiple offers to acquire a 200,000-sf bulk warehouse building at 505 Crossroads Pkwy. At $44 per sf, the price is believed to be close to the highest paid for such space in the submarket.
ATLANTA-In a letter to shareholders, signed by Post Properties' chairman Robert C. Goddard III and president/CEO David P. Stockert, the directors charge former chairman John A. Williams with setting up an "enormous contract" for Edward Lowenthal, the prospective CEO if Williams wins the May 22 proxy fight.
NILES, IL-Solis Stone takes 30,000 sf here, while Hallmark Data Systems moves from a location a block away to a 47,820-sf facility in Skokie. Topping them both, Contech Lighting takes 65,000 sf in Northbrook.
MEMPHIS, TN-The nation's largest independent hardware distributor signs a $10-million, 15-year lease agreement for an 80,000 sf class A office building in Memphis that was built to suit the company. The landlord is Sierra Crest Equities LLC of Sacramento, CA.
DENVER-Most new jobs during the month came in the professional and business services sector, with the administrative and support services category seeing the bulk of the gains. This is good news for the office market.
NEW YORK CITY-Banks ranging from 1,500 to 9,000 sf are sprouting up all over the five boroughs. Some real estate experts are calling banks the "new Gap.
PEORIA, AZ-A first mortgage, representing 80% of the purchase price, has been collateralized by the 82,100-sf, 97%-leased shopping center at a high-traffic intersection in Peoria. Canadian Imperial Bank provided the financing.
WOODBRIDGE, VA-The Worth Ave. Technology Center, a 184,000-sf R&D/warehouse structure in the Potomac Mills Mall, brings in $23.5 million in a deal between seller Macfarlan Real Estate Investment Management and buyer Argus Realty Investors LP.