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WEST HOLLYWOOD, CA-Arden Realty Inc.'s Beverly Sunset Medical Building is bought by Mani Bros. of Los Angeles. The new owner's plan is to turn the 158,585-sf, 70%-leased structure into a class A medical tower.
HOUSTON-The 91%-occupied Huntington Glen goes to a partnership of Sterling American of New York City and BH Management Services of Dallas. The Houston seller was asking $11.5 million for the complex, the buyer's second in the submarket.
ATLANTA-Inland Retail Real Estate Trust Inc.'s $12.3 million acquisition of the newly built, 69,500-sf Suwanee Crossroads in Suwanee, GA marks it among the highest prices in Georgia this year for a community shopping center.
WASHINGTON, DC-Real Estate Investment Trusts are moving to the head of the class as two major contribution plan managers introduce new real estate options to their participants. Both the Principal Financial Group and TIAA-CREF are answering their participants' desires for diversification in this high-performance sector.
BOSTON-In a sale that is one the city's most significant real estate deals in recent history, John Hancock Financial Services Inc. sells three of its home office complex buildings to Beacon Capital Partners, a locally based real estate investment company, for $910 million.
HIGHLAND PARK, NJ-The developer/owner, whose multifamily residential holdings are now in the 24,000-unit range, paid Prospect Investment Corp. $3.2 million for the 46-unit apartment building.
SCOTTSDALE, AZ-Arizona Business Online's owner is looking down the road when he can fulfill a dream of building his own headquarters. For now, he's settling into a new lease at the Scottsdale Executive Suites Office Park.
ISRAEL-The $35.8-million second phase is being developed in the city of Migdal Ha'Emek for Tower Semiconductor. The work is being handled by Meissner-Baran Ltd., a subsidiary of publicly traded Baran Group Ltd. that also handled construction of Tower's new $180-million fab plant there.
PHOENIX-Isokern of Arizona, awaiting completion of a build-to-suit project in Deer Valley, is settling into 2,244 sf in a 17-month signing for the temporary office and showroom. The temp location is 2122 W. Lone Cactus Dr.
SANTA ANA, CA-The 32,229-sf office building is one of four that seller CT Realty acquired in a portfolio buy two years ago. The 84%-leased building went to private investors from Orange County.