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ATLANTA-Six new senior advisors come onboard for Sperry Van Ness/CS Realty, a new Atlanta affiliation for Sperry Van Ness. David Frosh, president of the Irvine, CA-based commercial real estate investment firm, has grown the company to 50 regions from nine in the past 18 months.
SACRAMENTO-The Sacramento City Council has shown local developers that getting a proposal approved is not an easy process. Five developers went to the latest council meeting and only two walked out with the necessary approval.
MIAMI-The developer, The Ronto Group, also plans retail, convenience shops and office space, as well as other residential space, on a 969-acre tract of land in two counties that Parklands Development LP recently bought for $42 million.
VIRGINIA BEACH, VA-Development of the new 500,000-sf Virginia Beach Convention Center moves closer to realization with the selection of Turner Construction Co. to lead construction of the state-of-the-art project. Upon primary completion in 2005, the facility will cost an estimated $193.5 million.
WAUKEGAN, IL-The desolate 1-million-sf shopping center along Route 120 would be razed by Shaw Development Co., which would then sell off pieces of the 98-acre site for buildings that would be owned by commercial users.
FULLERTON, CA-Irvine, Calif.-based CIP Real Estate sells the 162,000-sf distribution and industrial project to a private investor, the latest in a series of CIP deals designed to diversify its portfolio.
WEST PALM BEACH, FL-Berwind Property Group Ltd. sold the 43,294-sf, 97% leased office building here to a local investor for $127 per sf. The property was built in 1986.
DENVER-CB Richard Ellis' South Denver office team reports 113 tenants are seeking 1.37 million sf in the submarket, with two of them trying to stake out a combined 240,000 sf.
MIAMI-Affordable Housing Development Corp. sold the 465-unit, 88% occupied apartment property here. The units, built in 1970, 1974 and 1979, sold for an average of $25,806 each.
MOORPARK, CA-In the latest in a series of deals converting theaters to other uses, Moorpark Club Partners LLC signs a $4.6 million lease and will convert a former Regal movie theater into a health club.