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BROOMFIELD, CO-Macerich Co., which also plans to redevelop its Crossroads Mall in Boulder, is buying the Little Rock, AR-based department store chain's 50% interest in FlatIron Crossing, which was built by Phoenix-based Westcor Partners.
MIAMI-The 999,000-sf, one-story mall was the largest mall in a $621 million, multi-property buy for The Mills Corp. of Arlington, VA. With this deal, the company owns two major South Florida malls.
DETROIT-Industrial deals in Oakland and Washtenaw counties involve a sale of a 48,200-sf property as well as leases on 14,774 sf and 14,000 sf. The sale involves a building on Stephenson Highway in Troy.
CZECH REPUBLIC-ProLogis has revealed that its recent acquisitions and leases totaling more than 1 million sf of Czech Republic industrial property is just the tip of the iceberg in its expansion strategy regarding soon-to-become members of the European Union.
ATLANTA-The founders say FM Solutions LLC has a proprietary database of 600 million sf of commercial real estate properties that will be used to help owners/developers better manage their facilities.
CHICAGO-Lava lamps were in vogue the last time multifamily development was happening on North Sheridan Road in the Edgewater neighborhood. Two developers have found underdeveloped pieces in the 5400 and 5500 blocks for 86 units in projects totaling $35 million.
NEW YORK CITY-At a breakfast meeting this morning, Mayor Michael Bloomberg unveiled his vision for the redevelopment of Lower Manhattan, which includes 10,000 new apartments in two residential neighborhoods, an improved street grid and more transportation options.
HOUSTON-Though it's the smaller deal, Subway the sandwich shop chain has renewed and expanded its corporate headquarters. The North Houston lease now totals 2,446 sf. The larger lease closes off 7,111 sf in the Woodlands.
CHINO, CA-The Collins Co., which makes windscreens and netting for tennis and other sports, signs a five-year deal for a 39,757-sf building owned by Panattoni Development. Collins is scheduled to occupy the facility, which will be used for manufacturing, in January.
GLENDALE, CA-Gregg Development settles its suit with the city through an agreement in which the city and a conservancy organization will pay the development firm $25.3 million for Gregg property.