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PEORIA, AZ-Six months after selling a Mesa project, a SoCal investment group spends $700,000 for four acres to build another self-storage facility. The 83rd Avenue project will have 700 units and only one competitor.
LONDON-Bristol's 'Old Council House' is on the market. The 179-year-old building offers nearly 20,000 sf of space in one of the best-known buildings in the city. King Sturge has the job of marketing it.
HOUSTON-The Houston-based firm, ICONIXX, re-ups a 17,442-sf lease at 5301 Hollister, where it occupies 37% of the 66,084-sf office building. Caldwell Watson and Trione & Gordon craft the renewal.
SAN FRANCISCO--Kortick Manufacturing has sold a San Francisco industrial property to the San Francisco Redevelopment Agency, which plans to resell it for approximately $10 million.
DETROIT-DaimlerChrysler wants to make engines with Hyundai and Mitsubishi for commercial vehicles and considers potential sites in Michigan or Ohio in order to be near its current base of operations.
PONTIAC, MI-The former home of the Detroit Lions is the subject of various mixed-use proposals, expected to cost about $400 million each to develop. A decision could come by February.
CHICAGO-A project worth $28 million when it is completed in 2004 will be built at 4500 W. Belmont Ave., on a 3.9-acre site that now includes a vacant 140,000-sf candy factory. The 116 units are about one-third less than zoning allows.
BOSTON-In a move that will allow it to consolidate its office and warehouse space, EGL Inc. leases 60,638 sf at 88 Black Falcon Ave., located at the International Cargo Port on the city's waterfront.
ARLINGTON, VA-Three high-level players from the Wall Street investment banking world join forces to form The Velasco Group, a new firm that will focus its attentions on providing debt and equity capital raising services and advice to mid-level market real estate companies.
HOUSTON-The National Safety Alliance and a local attorney lease a combined 6,851 sf in 3555 Timmons, a 14-story office tower that is gradually feeling the pinch of the times in its occupancy. It's higher than the submarket, but 6% off from the year's start.