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WILMINGTON, DE-The 1-million sf retail complex consisting of Brandywine Town Center and Market Square Shopping Center is in line to be snapped up in an $87-million deal. The buyer is a joint venture spearheaded by Port Washington, NY-headquartered REIT Acadia Realty Trust.
DALLAS-The on-off deal for 2100 McKinney finally hits the closing table. The winner from a field of five, CDI/East, marks a return to Texas after a four-year hiatus. It's also the first purchase in a portfolio expansion fueled by a $600-million pool.
HAMILTON TWP., NJ-The $10.7-million, one-story facility, entirely leased by the telecom company, is located in Mack-Cali's Horizon Center Business Park.
AUSTIN-The General Services Administration once again is reviewing three sites for a 195,000-sf courthouse. Earlier this month, a public outcry forced the GSA to cross off two locations. The final decision comes in March.
NEW YORK CITY-Drew O'Malley, a 14-year industry vet, was appointed principal and director of brokerage services for Trammell Crow Co.'s New York regional office.
CHICAGO-The seven adjacent city lots form a 21,000-sf site that likely will be developed as a condominium project, according to Inland Real Estate Sales, Inc., which brokers the $4.3-million property sale.
DENVER-Rents will be as high as $1.50 per sf for units in Promenade Place, being developed by Finger Co. of Houston. The first units are expected to be delivered next month.
GILBERT, AZ-The SanTan Freeway project drives a Westcor plan for a regional mall and a power center along Williams Field Road. Mall construction starts after 2006, but work on the power center ramps up in mid-2003, GlobeSt.com is told.
BOSTON-Legal Sea Foods starts construction on its new seafood-processing headquarters in the Boston Marine Industrial Park. The new facility is the second element of Massport's four-phase plan to develop a seafood industry in this park.
SAN DIEGO, CA-With positive net absorption continuing throughout the year, the San Diego retail market is expected to wind down 2002 with an average vacancy rate of 4.9%. Meanwhile, rents and selling prices are climbing.