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THOUSAND OAKS, CA-Two family trusts acquire the center as a long-term investment, using 1031 Exchange proceeds from a multi-tenant retail property in Arizona for the single-tenant, net-leased purchase.
LONDON-Capital & Regional and Morley Fund management's Mall Fund has received its first outside investment with a pounds 31.2 million ($49 million) cash injection from the Prudential
ORLANDO-The first woman to be named president of a major hotel brand in 1998, Mary K. Mahoney takes over as SVP of member relations and customer support at Orlando-based Fairfield Resorts Inc.
LONDON-Canary Wharf's shock warning that vacancy rates in the Docklands estate could double now looks prescient with the announcement that London Underground has served one years notice to exercise a break clause 282,300 sf of offices.
SAN DIEGO-San Diego Medical Federal Credit Union takes 4,638 sf in the Rio Vista Offices property, which brings the leasing level here up to 67%. Slated for completion in May 2003, the Mission Valley office facility is rising at 8889 Rio San Diego Drive.
BOCA RATON-Stiles Corp. purchased 23 acres for $11.6 million, Principle Properties bought 7.5 acres for $4 million, and an undisclosed buyer is under contract to purchase 55 acres in the T-Rex Corporate Center here. Stiles has the right to develop 600,000 sf of office and Principle plans to build 50,000 sf of retail.
NEWPORT BEACH, CA-The Muller Co. of Laguna Hills and Rockwood Capital buy the 100 Bayview building for an undisclosed sum, but sources estimate it closed at $66 million in a transaction put together by a CBRE team.
PHOENIX-Five times the usual amount of capital flowed into the Phoenix real estate market last year and the trend is continuing, according to a CBRE first vice president. Although money is flowing freely, product is scarce.
HOUSTON-A red carpet welcome has been given to two tenants as the first through the door for a class A office building sitting empty since 1999 in the Westchase submarket. Aegis Mortgage and the Wood Group take a combined 76,348 sf.
VALENCIA, CA-The Aliso Viejo investment and development firm plans $8.5 million in building improvements, tenant improvements and a high-powered marketing campaign for the mostly empty, 180,000-sf office development.