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LEBANON, NJ-The two assets, which are being acquired by Illva Saronno Corp. from a partnership of UBS PaineWebber, Morgan Stanley and Gale, total just under 93,000 sf.
WELLESLEY, MA-A $20.8 million loan is secured for Newton Wellesley Executive Office Park, a four-building, 130,000-sf office park. The deal closed despite the fact the park's largest tenant declared bankruptcy.
FORT WORTH, TX-OmniAmerican Credit Union purchased the 200,000-sf University Centre II office building and will move its headquarters into the building, which was 85% leased. The 100,000-sf University Centre I building, 96% leased, was purchased by an unnamed private investment group.
FRANKLIN, MA- New Boston Fund, Inc. and Condyne LLC Real Estate Development will develop a 233,450-sf, distribution center in the Franklin Industrial Park. The companies anticipate that the spec project's location as well as the area's lack of large industrial space will prove appealing to potential tenants.
DALY CITY, CA-On behalf of CalPERS, Seagate Properties Inc. has sold off the retail portion of Serramonte Plaza, a mixed-use development, to a group of individual investors for approximately $17.25 million.
BOYNTON BEACH, FL-The company is opening a 17,907-sf location here for distribution of its snack products within Palm Beach County. The five-year lease brings occupancy at building three of the Premier Gateway Commerce Center to 100%.
MIAMI-As part of the equity investment sales group here, Finkle will be responsible for institutional-grade property transactions in the Southeast and mid-Atlantic United States.
NORTH CHICAGO, IL-The loan from Dallas-based Phoenix Capital Partners, Ltd. helps co-developers Bridge Development and HSA Commercial move forward with an industrial facility on a rare 29-acre site on Skokie Highway.
SAN DIEGO, CA-Attendees of CoreNet Global Summit's "Trouble in Paradise" session, held here yesterday, were let in on the city's secret to success, as public and private sector executives gave a behind-the-scenes account of Downtown's "second renaissance." The five-day summit is wrapping up today.
PHILADELPHIA-In the largest new lease deal Downtown this year, encompassing 125,000 sf at the former Strawbridge & Clothier building at 801 Market St. and 36,472 sf at Two Commerce Square, the Providence, RI-based company makes Philadelphia its eastern Pennsylvania headquarters.