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NEW YORK CITY-After holding the assets for 80 years, the Simkowitz family sells off 12 multifamily buildings containing 786 units in Northern Manhattan, the Bronx and Westchester. Massey Knakal and CBRE co-broker the deal.
ORLANDO-Averaging about 95% occupancy during most of its existence, the slender, 10-story, 36,000-sf Metcalf Building at 100 S. Orange Ave. was sold for $3.8 million or $105.56 per sf. The new owners plan to invest another $1.5 million in interior upgrades.
CHICAGO-Of the 20 largest sublease deals during the previous five quarters, Grubb & Ellis Co. brokers have been involved in seven of them. Short-term deals have been the norm, they note.
LOS ANGELES-Long awaited redevelopment gets under way at the blighted South Los Angeles site. A 180-unit affordable apartment complex for senior citizens breaks ground as the first phase to the 22-acre project.
WILMINGTON, MA-Dow Industries renews its lease for 33,000-sf of office and research and development space at 200 Research Dr., which is located in Wilmington Technology Park, just off of Route 93. The deal is good news in this three million-sf market.
PETALUMA,CA-Commercial property developer RNM Properties has landed two new tenants for its Lakeville Business Park development, which consists of 11 buildings totaling 830,000-sf, in south Petaluma.
DUBLIN, CA-The Alameda County Board of Supervisors have decided to sell an Emerald Park site to Bank of America, which plans to develop a single-story, 6,000-sf facility on the property.
WASHINGTON, DC-Legislators from both sides of the aisle prepare to offer new legislation designed to mitigate the nation's low-income housing crisis. A group of Democratic, Republican and Independent representatives of Congress will introduce the National Housing Trust Fund on Wednesday.
STAMFORD, CT-Reckson Associates Realty Corp. reports it has signed eight leases totaling 26,232 sf of space, seven of which were for space at the company's Landmark Square office complex here.
DECATUR, IL-Queen Anne Realty of New Jersey bought the massive industrial facility, which is situated on 153 acres. The property has been sitting empty for more than a year. Binswanger/CBB brokered for the seller.