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MIAMI-The Bloomfield Hills, MI-based REIT now owns 100% interest in the 1.3-million-sf value mall. The deal, valued at approximately $97 million, involved $94.5 million in debt and $2.3 million in peripheral property.
DALLAS-Grubb & Ellis says it's time the Dallas-Fort Worth office market comes clean about asking versus effective rents. The firm is collating the data and will release the findings in December. As for Q3, there were some positive signs.
SOUTH PLAINFIELD, NJ-The latest step in the process, a portion of which is the HQ of luggage maker Tumi Inc., will be to turn a vacant part of the building into pre-built space.
OCEANSIDE, CA-Oceanside Prescott LLC will use the funds to refinance the Prescott Industrial Park property. Encompassing 266,340 sf, the industrial complex is located at 1865, 1875 and 890 Ord Way in Oceanside.
AUSTIN-GCI Read-Poland ends a 30-year run and signs a five-year lease for 6,700 sf at 327 Congress Ave. Move-in is set for early December in a pact structured by Colliers International and Trammell Crow.
ORLANDO-The 34-year-old son of Don Asher Jr. replaces outgoing Orlando Regional Realtor Assoc. president Ronald L. Acker Sr., owner/broker of Re/Max. Don Asher headed the association in 1988.
RANCHO MIRAGE, CA-Developer J.H. Snyder Co. obtains $41-million construction take-out loan for the recently completed, 240,000-sf retail and entertainment center. The lender was Sonnenblick-Eichner Co.
AUSTIN-The 100-unit Marshall Apartments sell for $20,000 per unit. Buyer AmeriSouth, a well-known Dallas repositioning pro, will put $1 million into a rehab at the 96%-occupied complex situated on the city's east side.
PASADENA, CA-Construction is under way on Pasadena Gateway Villas, a 140-unit, two-building development of the Operating Engineers Pension Trust. The project is expected to be completed and ready for occupancy in February next year.