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VERNON, CA-Cocomo Apparel and Volume One Apparel sign a five-year, $1.88-million lease for 64,740 sf of warehouse and distribution space that will be used for offices and warehousing, cutting, knitting and manufacturing.
RESTON, VA-Two Freedom Square gets another new tenant with information technology company High Performance Technologies' leasing of an entire floor in the 424,000-sf building. HPT will relocate its Arlington, VA-based headquarters to the new 22,640-sf space. The building is now 75% leased.
PHILADELPHIA-Johnstown, PA-based Crown American buys the in-line 226,000 sf of the 629,000-sf enclosed mall in Dothan, AL along with 60 adjacent acres. Anchor tenants own 403,000 sf. Approximately half of the land can be used for expansion or out-parcel development.
AUSTIN-Marcus & Millichap forecasts the retail market, fueled by population and job growth, will remain strong with high rents, although a slight vacancy increase is expected. Development activity will likely happen in outlying areas.
CHICAGO-Williamsville, NY-based Eastbourne Investments Ltd. acquired the 686,402-sf Antioch Center in Kansas City, MO, anchored by Sears and Burlington Coat Factory but only 80% occupied, for about $14 million. It will likely be redeveloped as an outdoor center.
SOUTH ORANGE, NJ-The five assets, owned by Miller Industrial Properties, are being shopped by Weichert Commercial. The largest is a 94,000-sf building in Kearny, NJ.
MONROE, MI-La-Z-Boy, which is experiencing slow rise in profit from recent weak sales in the past year, is expanding new 16,000-sf store format geared toward women and higher-income buyers.
LOS ANGELES, CA-An affiliate of Los Angeles-based Bentley Forbes acquires the 200,000-sf manufacturing and distribution facility southeast of Downtown Los Angeles that is home to a tortilla manufacturer Gruma Corp.
MIAMI-An affiliate of Danac Corp. of Bethesda, MD bought a 30,000-sf Best Buy store in Fort Lauderdale for $8.05 million, and Cole Cos. of Phoenix bought the 220,000-sf Boulevard Square Shopping Center and retail outparcel in Pembroke Pines for $34.6 million.
PHOENIX-In a move some say reflects a renewed tenant interest in the city's Central Business District, Phoenix-based architectural and interior firm Archicon L.C. will relocate its offices into 9,320 sf in mid-town's 4041 Central Plaza.