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TORRANCE, CA-The $23.45 million sale of the 152-unit Pacific Park is a per-unit record of $154,276 for Torrance. The new owner plans more upgrades to the property, located at 20707 Anza Ave., which was about 92% occupied at the time of sale.
BELLEVUE, WA-The King of Prussia, Pa.-based toy retailer is close to $65,000 behind in its rent payments to Bellevue Square, which has filed a lawsuit. But FAO's bankruptcy filing this week gives it 60 days to pay up or close.
ATLANTA-Area industrial brokers familiar with the Southside Industrial Park property tell GlobeSt.com the 13-year-old, 403,000-sf asset probably sold for about $20 million or $50 per sf, almost a third less than its replacement cost.
LONDON-Great Portland Estates has raised pounds 74.6 million ($120 million) in three separate transactions as part of its strategy of re-shaping its portfolio to concentrate on central London offices.
ORLANDO-The little-publicized developer-management firm paid $9.1 million for the one-year-old, 69,327-sf Tree of Life headquarters building in St. Augustine, FL, and $8.1 million for the 67,414-sf Nextel Building in Panama City Beach, FL.
WHEATON, MD-Westfield Shoppingtown Wheaton secures a commitment for a fourth anchor in the mall with the recent announcement that a Macy's store will soon occupy the spot. The store will have 180,000 sf of retail space over two floors.
CHICAGO-Pittsfield Development LLC begins a $6-million renovation, including work on its facade and elevators. The 39-story building at 55 E. Washington St. was acquired for $15 million in 2000. Work is to be finished in September 2005.
STAMFORD, CT-Fueled by transactions with financial services and insurance firms, leasing activity remained "steady" in 2002 at W&M Properties office portfolio in Westchester and Fairfield counties.
GRESHAM, OR-If the final plan for the Rockwood neighborhood is adopted by the City Council on Feb. 2, Gresham voters will decide the issue once and for all on the May ballot. If 50% of the voters say "yes,"the plan take effect.