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VALHALLA, NY-Mitchell Hochberg, who founded his own residential development company in 1985 and sold it to Skanska AB in 1996, has reacquired the company for $20 million.
DALLAS-Chicago-based MB Financial gets the check for the two-location Abrams Centre National Bank from Houston's Prosperity Bancshares, which is marking its second Dallas bank acquisition in two years.
CHICAGO-Metropolitan Life's $770-million first mortgage on Sears Tower must be rewritten before Trizec Properties Inc. takes title to the 110-story building, Trizec president and CEO Timothy H. Callahan warns again Thursday.
IRVINE, CA-The former US Marine Corps Air Base, renamed "Heritage Fields," could produce the government's largest-ever return on a military base closing. Real estate sources say auction proceeds could top $1 billion.
BOSTON-The University of Massachusetts has abandoned its $218 million plan to build dorms on its Boston campus in the face of opposition from both the governor's office and local residents.
FREDERICK, MD-The responsibility for leasing activity at the nearly 200,000-sf Westview Promenade shopping center lands in the lap of real estate services company Madison Retail Group.
SUNRISE, FL-The Malvern, PA-based office equipment supplier is moving about 60 employees to the 105,487-sf Saw-Ban Office Building here in a 30-month sublease valued at $498,042, or $16.04 per sf.
LONDON-Hammerson has sold an office investment at 53 quai d'Orsay in Paris to the German fund KanAm Grund Kapitalanlagegesellschaft for pounds 74 million ($120 million).
MIAMI-This year's rate of 15.2% is expected to stay the same next year but then drop the next two years, according to a recently released Miami office market report by Jones Lang LaSalle. The report also forecasts that average gross rental rates in the Miami area office market will drop to $22.76 per sf.
WEST HEMPSTEAD, NY-The CB Richard Ellis (CBRE) Tri-State investment team, led by Jeffrey R. Dunne, has arranged the sale of The Hub, a 248,749-sf community shopping center in West Hempstead, NY, for $33.8M or $135.88 per sf.