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PHOENIX-Equus Realty Advisers takes the deed to its 10th property in four years. The eight-building Valley Commerce Center, totaling 240,000 sf, is primed for repositioning. Equus has a definite plan in hand to boost occupancy above the current 78%.
DETROIT-Plano, TX-based EDS will fill the 21-story Tower 500 at the massive GM office complex along Detroit River, moving employees closer to their main automotive client.
CHICAGO-Target Corp. will expand a Montgomery Wards store by 50,000 sf, topping it with a "green roof" favored by Mayor Richard M. Daley, at the Addison Mall at 2939 W. Addison St.
CHICAGO-The 14-story New York Life Building in the Central Loop and nine-story West Town State Bank Building at 2400 W. Madison St. earn preliminary landmark status from the Commission on Chicago Landmarks.
WHITE PLAINS-Morgan Stanley plans to relocate its Individual Investor Group headquarters from Manhattan to the former Chevron/Texaco headquarters it purchased earlier this year. The financial-services firm will also build a large trading floor and eventually house 2,200 employees there.
ATLANTA-The 343-acre West Highlands undertaking, five miles from Downtown, will be the largest redevelopment effort ever attempted by the Atlanta Housing Authority. The lead developer is Noel Khalil of locally based Columbia Residential.
MIAMI-The committee, to form later this year, will advise the district on ways to better organize its construction department with a goal of building and renovating schools more efficiently.
PHOENIX-After 18 months of being on and off the market, a 44,374-sf building on 5.6 acres sells to a Nevada-based investment firm. The long-term tenant, 24 Hour Fitness, plus the Camelback Corridor location drove the sale.
SANTA BARBARA, CA-Towbes Capital Partners completes funding for its Partners Fund I, which will invest in class A office and industrial properties throughout the United States.
LOS ANGELES, CA-The outdoor advertising firm will move from its longtime headquarters near Downtown Los Angeles to a new building at Boeing Realty Corp.'s Harbor Gateway Business Center near Torrance.