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PHOENIX-The private investor from Millbrae puts up the high offer out of four on the table for the 8930 N. 7th St. property in Phoenix. Subway, a 10-year tenant, has just renewed for five years with an option for another five.
CHICAGO-Nearly $90 million was spent on maintenance and capital expenses in the first quarter of 2003, an average of more than $400 per unit. The multifamily REIT is betting on the money translating into higher occupancy rates.
MIAMI-Two South Florida deals totaling 200,000 sf have been completed with tenants Smith Terminal Warehouse Co. and DWD Warehousing, and a third for 50,000 sf in Medley, FL, should be completed shortly.
GARDEN GROVE, CA-The Santa Ana developer's Burke Knott Business Center will be primarily industrial, but with office build-outs of up to 50%. Construction will start almost immediately in a plan to deliver in January 2004.
WORCESTER, MA-Consolidated Freightways puts its distribution facility located at 340 Franklin St. up for sale to the highest bidder. The company filed for bankruptcy protection this past September and is in the process of selling off its 220 properties located throughout the country.
TYSONS CORNER, VA-Federal government information technology contractor AnviCom Inc. makes plans to accommodate future growth by relocating to an 18,300-sf space at 1934 Gallows Rd.
OAKLAND, CA-Currently located in Orinda, CA, Terranova Consulting Group leases 8,316 sf at 500 12th Street, a low-rise three-building office and retail development across from the new 555 City Center office tower in Downtown Oakland.
CHICAGO-The University of Illinois-Chicago expands to 40,000 sf at Lincoln Properties' 40-story building, where it holds classes for its executive MBA program. Meanwhile, Marcus Evans Ltd. subleases nearly 23,000 sf at 455 N. Cityfront Plaza Dr.
DETROIT-The local firm handled five small leases for various office and retail tenants, including the move of Great Lakes Telephone to Centerline and signing a lease for the last space at Time Square Plaza shopping mall in Sterling Heights to Hanna Fruit Market.