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SAN SIMEON, CA-After scrapping its resort plans in December, the owners of the massive Hearst Ranch in San Simeon have worked out a deal with the American Land Conservancy for preservation.
MONROE TWP., NJ-Located in the Exit 8A submarket and fully leased to Petco and the US Postal Service, the brand-new building fetched $30 million for its developers, Matrix and Cigna.
PHOENIX-Come May 15, the Crowne Plaza flag is lowered on the 532-room CBD hotel and a Wyndham banner rises in its place to kick off a $6-million makeover for Phoenix Hospitality's franchise change.
TEMPE, AZ-Advanced Services Inc. has found 42,377 sf suitable for the GE Consumer Products' customer service center, signing a seven-year lease that brings a relocation from Phoenix to Tempe. The move takes place April 1.
DETROIT-Harbor Cos. working on the designs for a large mixed-use project, hopes to have something to present to the public after two months time, according to company spokeswoman.
WASHINGTON, DC-Law firm Wilmer, Cutler & Pickering makes plans to become a Pennsylvania Ave. bigwig with its recent signing of leases in three buildings totaling 524,000 sf. The structures will be linked together to create a thoroughfare.
MIDDLE RIVER, MD-Plastic enclosure manufacturer and distributor Poly-Seal Corp. moves into 155,000 sf of industrial/warehouse space at 670 Chesapeake Park Plaza. The deal leaves the single-story structure with only 28,000 sf of available space, which leases for about $3.65 per-sf.
ELK GROVE VILLAGE, IL-A 44,880-sf building at 1111 Nicholas Blvd. sells for $3.125 million to solve relocation needs of two companies, while 50,000 sf of space at 1501 Nicholas Blvd. is also leased.
LONDON-Hermes Pensions management has bought out GE Capital's 50% stake in business park and outlet mall specialist MEPC. The two took MEPC private in a 2000 in a pounds 3.6 billion ($5.75 billion) deal.