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CHICAGO-The 106,400-sf, seven-story office building across the street from the Chicago Sun-Times is refinanced for $9.58 million, nearly twice the acquisition in August 1997. At 75% loan-to-value, the loan reflects a $120 per sf value for the building.
DELANCO, NJ-The manufactured housing company, which does business under the Ryan Homes and other trade names, will make residential construction components at its first New Jersey plant.
SUGAR LAND, TX-A $15.6-million certificates sale starts Tuesday, with maturity dates running from Feb. 15, 2004, through 2018. Part of the proceeds will fund land acquisition and construction of a city hall complex in the heart of town.
INGLEWOOD, CA-Kikka Corp., which packages sushi and other foods, buys a two-building complex, totaling 41,000 sf, along Isis Avenue. The food packager has tripled its operating space with the purchase. Move-in comes in the second quarter.
SAN CLEMENTE, CA-The buyer and the seller of the Burridge Building are both private investors from Nevada. The 14,009-sf, Art Deco landmark, a mix of office and retail, was 96% leased at sale time.
JUSTICE, IL-Repositioning experts at Waterton Associates, LLC pay less than $42,000 a unit for the multifamily rental complex at 8711 S. 87th Terrace in this southwest suburb. A $1.6-million capital improvement program is in the works.
ORLANDO-The 46-year-old, retired cruise travel agency millionaire paid Anthony and Jeannette Basile $11,149 per acre (26 cents per sf) for the trophy 148-acre training center for standardbred horses in DeLeon Springs, FL, 40 miles north of Downtown Orlando.
NEW HAVEN, CT-Despite a slower economic recovery than many had expected, the New Haven office market held its own in the fourth quarter of 2002. In fact, its yearend 2002 office vacancy rate was virtually unchanged at
WALTHAM, MA-Private Healthcare Systems renews its lease for 200,000 sf of space at 1100 Winter St. in Bay Colony Corporate Center, a 58-acre complex comprised of four buildings. The five-year lease is one of the largest in the area in recent months.
SCOTTSDALE, AZ-Chez Antiques will become the largest store of its type when it opens in 46,955 sf at Pima Crossing. The done deal is a seven-year lease valued at $2.7 million, with an opening penciled on the calendar for February.