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WASHINGTON, DC-GMAC Commercial Mortgage Corp. plunks down $40 million on the table to invest in its joint venture partner's property acquisition known as The Brittany Portfolio. The four properties account for more than 1,000 residential units.
ATLANTA-The $1 billion, 12 million-sf mixed-use project signs new contracts with Mama Fu's Noodle House and Moe's Southwest Grill. The 138-acre redevelopment is shooting for a yearend opening on the site of the former Atlantic Steel Mill.
MIAMI-Inking a lease for 10 years, 3 PL of the Americas is set to move in to 138,996 sf of industrial space at the 2.3 million-sf, class A Beacon Centre. Hospitality Services leased 17,600 sf of industrial space at Beacon Industrial Park. Both tenants relocated from the Doral area.
STAMFORD, CT-Insignia/ESG says that leasing activity from government, institutional and social-service sectors as well as a 183,000-sf commitment by IKEA Corp., late in the year, caused office availability rates in New Haven County to fall sharply in 2002.
AVONDALE, AZ-The retailer has reserved 88,302 sf in the 250,000-sf Alameda Crossing, the latest undertaking by SunCor Development. Kohl's will unlock the doors in October, one of 10 stores it has planned for the Valley.
BLOOMFIELD TOWNSHIP, MI-Dan Dietz, nephew of Paul Dietz, has split from takeover of Uncle's firm, Dietz Organization, and formed his own company to handle office, retail and industrial property deals in Midwest based in Bloomfield Township.
LONDON-Business park developer Akeler has completed its final two buildings at Quinta da Fonte business park near Lisbon, Portugal. Total net space at the park is now 900,000 sf
PHOENIX-The Spokane, WA-based firm closes its second metro Phoenix buy in five weeks and its third since 2001. This time, the deed is to a 38,000-sf office property at 3230 E. Broadway. More deeds will be collected before the year ends.
DENVER-The City is moving full speed ahead on its plan to create a non-profit corporation to float bonds to build the Convention Center hotel and has now submitted names to serve on the board.
SAN FRANCISCO, CA-Star Wars filmmaker George Lucas broke ground on the $300-million Letterman Digital Arts facility, which he says will "put a stake in the ground" for San Francisco as a filmmaking city.