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ALEXANDRIA, VA-Cherokee Business Center, the 54,000-sf office facility at 5510 Cherokee Ave., gets a new owner in a deal between seller Advance Realty Group and buyer Oekos Management Corp. Advance's involvement in the transaction is twofold--Oekos is a joint venture involving Advance and Citibank.
LEXINGTON, MA-In a deal that takes some sublease space off the market, Ipswitch Inc., a software developer, takes 18,686 sf of space at 10 Maguire Rd. for its corporate headquarters. The software developer is relocating from a block away.
AUSTIN-The Austin-based high-tech provider for the multifamily industry is hanging on, but warns shareholders that it's running out of cash. Lenders, who have doled out some breaks, can pull the plug at any time.
BIRMINGHAM, AL-The privately owned, locally based firm projects a comparable December performance, largely on the strength of a vibrant multifamily investment market in the Southeast.
SAN RAFAEL, CA-Marin County residents will be asked to participate in a developer-sponsored telephone poll that will gauge support for Shapell Industries' proposal to build a mixed-use project with 124,000 sf of commercial and retail space.
TOKYO-Oakwood Worldwide, a Los Angeles-based provider of corporate housing, expands its presence in Japan with the opening of an extended-stay apartment in Tokyo.
DENVER-The redevelopment of the Dahlia Shopping Center in northeast Denver required bipartisan support for funding, but Rep. Diana DeGette gets singled out for credit from Mayor Wellington E. Webb for carrying the ball.
PARIS-In France's biggest-ever portfolio deal, a consortium of CDC IXIS, GE Capital and Goldman Sachs' Whitehall Funds has completed the $2.7 billion sale and leaseback of a portfolio of real estate assets from France Telecom.