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ORLANDO-Grayco Inc., a private investment group in Richmond, VA, sold the 10-year-old, 324-unit, 97%-leased Monterey Lakes Apartments in Largo, FL to the Illinois pension fund advisor for $17.73 million or $55 per sf.
SAN DIEGO, CA-Parma Property Co. scoops up the industrial park, which is part of the mixed-use Mission Corporate Center complex located at 6162 Mission Gorge Rd. and 6152-6162 Fairmont Ave.
ANN ARBOR, MI-Private donations totaling $35 million have kicked off a fund-raising drive at UM to cover $88 million in construction costs to build new and expanded facilities for the university's engineering department.
PORTLAND-The Governor and the Mayor will be at the Port of Portland's Terminal 4 Thursday morning to celebrate the start of the $60-million lease and development deal that helps Portland maintain its standing as having the West Coast's largest volume automobile-handling port.<P>
WILMINGTON, MA-Archon Group leases 84,111-sf of its industrial space to four firms. Federal Express takes 39,727 sf while Mayo Medical commits to 28,229 sf and Opto-line Associates and Directory Distribution Associates ink deals for 9,750 sf and 6,405 sf respectively.
AUSTIN-The 54-unit complex is coming out of the ground as affordable housing. In the last 18 months, more than 1,400 affordable units have opened or announced for Austin. The Family Eldercare project breaks ground in the spring.
COMMERCE TOWNSHIP, MI-A popular area sees medium-priced condominiums going up; Trillium Park's 320 attached living units are cheaper and more cost-effective than apartment living, says the builder.
HOUSTON-Rent revenue is up 8.3% gross and completed deals up 35% in a 2002-to-2001 comparison for the first nine months. Despite the success, the REIT continues to watch its strategy for buying, selling and developing.
CHICAGO-The nation's second-largest mall owner and operator has posted positive numbers for the third quarter of this year, despite the pervasive slowdown in the economy.
FALLBROOK, CA-Hsing Properties LLC snatches up the 21,339-sf retail complex, known as Fallbrook Towne Center North. Located at 1075-1079 South Mission Rd. in Fallbrook, it is occupied by tenants including Radio Shack, Payless Shoe Source and Ultra Fitness.