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LOMPOC, CA-Investors from Santa Barbara acquire the holding in the 11-year-old Mission Plaza center from a Montecito firm. A 10-year lease, held by Ross Dress for Less, makes the 31,608-sf purchase particularly appealing.
PHOENIX-Spindex Physical Therapy USA gets a second location in the metro by besting several others for the freestanding building at 1727 E. Bell Rd. in the northern tier. Interest ran high because it's a rare find in terms of size and age in the submarket.
MAYNARD, MA-Experion Systems Inc. leases 11,174 sf of office space at 8 Clock Tower Place. While small, the deal is good news for the Route 495/West market, which continues to watch its vacancy rates get higher and higher.
BIRMINGHAM, MI-The city says height restrictions for three-story buildings would require residential at the site of a former Jacobson's department store that developer Burton-Katzman is about the buy.
HOUSTON-Anthony Fritsche is co-managing the corporate advisory services team after earning a promotion to senior VP and exiting Dallas for Houston. Thomas Brennan is on board as a VP in the investment sales group.
DANVILLE, VA-Montreal, Quebec-based Intertape Polymer Group Inc. decides to merge three US distribution centers into a singular 200,000-sf location in Danville, which is the home of one of the three existing facilities. The cost of realizing the endeavor is $10.6 million.
LONDON-British Land has sold a further pounds 50 million ($80 million) of bonds, securitising the rental income from Meadowhall Shopping Centre, Sheffield. This is in addition to the pounds 825 million ($1.3 billion) of bonds issued in November 2001
ATLANTA-The New York retailer's long expected departure from Downtown isn't hurting the renamed AtlantaXchange Building, where owners Taconic, Benenson and Angelo Gordon have leased about 80% of the 63-year-old, 663,157-sf structure.
HOUSTON-Colliers International's latest report says Q1 didn't undermine the submarket's standing despite rumored NASA cutbacks after the shuttle tragedy. The market, with more than 5.7 million sf in 86 buildings, has a vacancy of only 2%.