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PHILADELPHIA-The Cranford, NJ-based firm acquires the 174,124-sf, class-A Triad Building in the Renaissance Corporate Park in King of Prussia, PA for $26.3 million. It is 90% leased to eight tenants. The seller is an affiliate of JP Morgan Fleming.
HOUSTON-The firm of Henry P. Vandercam joins the line-up in the 21-story Travis Tower. The attorney will move into 3,202 sf in the popular CBD high-rise, now boasting an occupancy in the mid-90% range.
MUKILTEO, WA-The $33 million, 235-unit development is located on Harbour Pointe Boulevard between Harbour Reach and Possession Way in the master planned community of Harbour Pointe. Roughly 70 of the Bella Terra units have been leased since completion.
CHANDLER, AZ-The store at the corner of Riggs and McQueen roads will be about 34,000 sf larger than the standard 63,000-sf Fry's Marketplace. The new game plan is to add general merchandise, including a 10,000-sf garden center.
WORCESTER, MA-Barnes & Noble commits to opening a 25,000-sf store in the Lincoln Plaza Shopping Center on Tyler Prentice Road. The 450,000-sf 57-year-old center underwent a $50-million renovation nearly two years ago.
ORLANDO-The Irvine, CA-based real estate investment firm has grown its regional network to 50 from nine in an 18-month expansion spurt. Regional director Jim Brady heads the firm's Florida growth strategy.
LONDON-Kennet Properties, the development arm of Thames Water Property, has formed a joint venture with with ProLogis Developments to build a 270,000-sf speculative warehouse scheme close to the M25 motorway in Edmonton North London.
TRENTON, NJ-Two cities have been lobbying strenuously for the tower, which would replace the one destroyed with the World Trade Center, but the state agency wants some answers about the impact.
SAN DIEGO, CA-The county's industrial net absorption recovered dramatically during the third quarter of this year, as a new report from Burnham Real Estate Services says it stood at 900,000 sf or 60% of the total year-to-date net absorption. This figure illustrates that San Diego's industrial market is already on the mend, well ahead of the national recovery slated for mid-2003.
WHITE PLAINS-In the first major lease deal since it acquired the building a few months ago, Caspi Development Co. reports that the Bank of New York has signed a lease renewal deal for its 14,467 square feet office at 235 Main St.