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GlobeSt.com UPDATE: Summit Commercial Acquires Kaiser Center in $100M Deal

remstaff &Globe Street | March 17, 2003

OAKLAND, CA-Kaiser Aluminum Corp. sells its chunk of the 753,000-sf development to Summit for $65.5 million and Summit pays another $34.5 million or so for the rest of the building as well as entitlements for building another 1.5 million sf.

Matrix Buys Luton Offices

remstaff &Globe Street | March 17, 2003

LONDON-Matrix Securities has bought the freehold of three office buildings at the Capability Green business park in Luton, Bedfordshire. The pounds 19.3 million ($30 million) deal reflects an initial yield of 8.22%.

Bascom Buys Its First Hawaii Apartment Units for $32.2M

remstaff &Globe Street | March 17, 2003

HONOLULU, HI-The 36-year-old, 406-unit Sunset Villa Apartments in the City of Waipahu is sold to The Bascom Group of Irvine, Calif., a private equity fund in search of more Hawaii apartments to purchase.

$6M Buys 216 Units, Starts Makeover

remstaff &Globe Street | March 17, 2003

DALLAS-Gillean Properties spends $4.3 million for the newly named Gage Place in the Bachman Lake neighborhood and immediately jumps into a $1.7-million renovation. The lender has two more under contract in a foreclosed Dallas package.

Oakland County Expanding the Most

remstaff &Globe Street | March 17, 2003

PONTIAC, MI-For the fifth consecutive year, Oakland County has been designated Michigan's economic development leader, said county officials.

Post Oak Complex Fills 30,811 SF

remstaff &Globe Street | March 17, 2003

HOUSTON-Phelps Dunbar renews 22,497 sf for a 25-attorney office at 3040 Post Oak while the Douglas Group takes 7,864 sf at the same address. Structuring the pacts were brokers for Trione & Gordon and Hines, the former owner.

364-Unit Westchase Complex Sells

remstaff | March 17, 2003

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.

Matson Navigation Leases 52,580 SF at 555 City Center

remstaff &Globe Street | March 17, 2003

OAKLAND, CA-The 12-year, $18-million lease pushes occupancy in the 487,000-sf office building over 50% for the first time since its completion last year. The building is owned in part by San Francisco-based Shorenstein Co., which also manages the building.

Investment Firm Renews 14,804 SF

remstaff &Globe Street | March 17, 2003

LOS ANGELES-Locally based Westcap Investors remains in a full floor at 11111 Santa Monica Blvd., signing a six-year lease at a lower rent for its headquarters. Real estate sources peg the deal's value at $3 million.

Biotech Center Slated for Encinitas

remstaff &Globe Street | March 17, 2003

ENCINITAS, CA-With groundbreaking planned for summer 2003, the project will be the first biotechnology campus to be built in Encinitas. The complex is being designed to house 125,000 sf of office, research and laboratory space with potential for expansion.

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GlobeSt.com UPDATE: Summit Commercial Acquires Kaiser Center in $100M Deal

Matrix Buys Luton Offices

Bascom Buys Its First Hawaii Apartment Units for $32.2M

$6M Buys 216 Units, Starts Makeover

Oakland County Expanding the Most

Post Oak Complex Fills 30,811 SF

364-Unit Westchase Complex Sells

Matson Navigation Leases 52,580 SF at 555 City Center

Investment Firm Renews 14,804 SF

Biotech Center Slated for Encinitas

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