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PORTLAND-The $5-million acquisition includes a 43,000-sf building and an adjacent parking lot that can in future years be developed. Meredith Corp. sold the building to the nonprofit for about $1 million less than its assessed value; the difference is considered a tax deductible contribution.
CHICAGO-The Commission on Chicago Landmarks will hold a public hearing March 12, the next step in a process that ultimately could require the Cubs to get city permission before making significant changes on the storied 89-year-old Wrigley Field.
ARLINGTON, VA-A Pennsylvania-based real estate company Korman Communities makes its debut in the Washington, DC-area market with the $25.5-million acquisition of The Atherton, a 123-unit apartment community. Korman officials plan to make major additions to the barely one-year-old property.
SOUTHFIELD, MI-The largest among Grubb & Ellis' recent transactions is a lease renewal of space at the 1.2 million-sf Allied Commerce Center to Exhibit Works Inc.
PHILADELPHIA-The Newtown Square, PA-based marketing research firm has doubled its space at the six-building, 325,000-sf Newtown Square Corporate Campus, owned by Brandywine Realty Trust. Terms are undisclosed. The average asking rental rate is about $21.50 per sf, according to GlobeSt.com research.
PITTSFIELD TOWNSHIP, MI-The Company's growth necessitates move to 255,000-sf build-to-suit building in Avis Farms, says ABN AMRO Mortgage Group; the facilty will be finished by July 2004
AUSTIN-One of the school's graduates teams the initiative with his 4,675-sf studio in Cedar Park. The Gemini School of Visual Arts, founded in 1984 in the UK and folded in the late 1990s, trains high-tech artists for computer games.
VALENCIA, CA-Abbott Bros. of Los Angeles plans a 323,000-sf light industrial project in an area that was once a center of aerospace activity. The two-phase project will have seven buildings in 40,000-sf to 60,000-sf designs.
WASHINGTON, DC-Ownership of the barely three-year-old office structure at 1808 Eye St. changes hands in a $12.9-million deal between seller CG Investments and buyer Washington Brick & Terra Cotta Cos. The nine-story, 32,500-sf building has a 2004 assessed value of about $12 million.
ATASOCITA, TX-In 60 to 75 days, a 12,094-sf twin building will break ground in the 3.6-acre park in North Houston. The move to start work is jumpstarted by negotiations that could fill the first structure and three new signed leases.