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IRVINE, CA-Staff Pay has turned on the lights at a 12,012-sf industrial building in Irvine, relocating from 6,800 sf of leased space in Santa Ana in an acquisition structured for buyer and seller by Voit Commercial Brokerage.
CARSON, CA-The buyer gets less than half of the 937,680-sf, 30-year-old mall from Carson Mall Partners. Three anchors own the balance. With the deal done, the team is weighing the redevelopment options, including a partial "de-malling.
LONDON-Super-brewer Scottish & Newcastle confirms it wants to focus on being an international brewer and says it will sell its 1,450 pubs, restaurants and lodges outright after abandoning plans for a sale-and-manage-back disposal.
TRENTON, NJ-An icon for Gov. James McGreevey's anti-sprawl agenda, the multi-colored development map is back in the shop for retooling in the wake of withering criticism.
TROY, MI-Most developers require the conditions of public financing to see some value in a proposed mixed-use project. City is moving forward to a public vote.
LOS ANGELES-An Arcadia investment group acquires the 96-unit portfolio of circa 1920 properties, which is 95% occupied, from an Inglewood owner. The units average 588 sf and rent for $456 per month, a below-market rate.
CHICAGO-Bell, Boyd & Lloyd, LLC stabilizes Three First National Plaza with a 176,607-sf extension and expansion while Quarles & Brady LLP signs on for another 11 years in a 55,420-sf deal at 500 W. Madison St.
PORTLAND-The 16.7 million sf of flex space in the Sunset Corridor is 14% vacant. The 19.7 million sf of manufacturing, warehouse and distribution space in the Columbia Corridor sits 9.2% vacant.