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SAN JOSE-A 100-unit apartment complex here has been purchased for $13.65 million by Pacific Property Co., a Palo Alto-based apartment investor. The 70,000-sf complex was built in 1960 and is currently 95% leased.
PHILADELPHIA-State funding for expansion of Downtown's troubled convention center is a dead issue this year. The request for $232 million did not make the cut on a list of state-funded construction projects submitted to the legislature for a vote.
DALLAS-American Turf & Carpet gets a deal that shaves $1 per sf off the submarket rate, the broker says. The carpet and turf distributor, in turn, steps into half of a vacant warehouse building in the Hines North submarket in Dallas.
BOSTON-As if the city doesn't have enough sublease space to deal with, an industry source tells GlobeSt.com that Fidelity Investments is looking to unload 170,000 sf at 53 State St. The huge investment firm already has 420,000 sf on the city's sublease market.
ORLANDO-The Hawthorne, NY-based developer has revised plans for Uptown Orlando, scaling back the $30 million project to a $10 million concept with 80 apartment units, a 35,000-sf grocery and 20,000 sf of other retail.
HOUSTON-Bankruptcy court approves Intell as the buyer, but rejects a bid by Houston taxing bodies to collect their money at closing. Instead, they must notify creditors they're taking their place at the front of the line when checks are cut.
DETROIT-Fourteen years after its lawsuit was filed, JFK Investment is awarded $16.5 million for wetland property that was planned to become the site of a sports complex, multifamily rental units and a restaurant.
ORLANDO-The Orlando/Orange County Convention & Visitors Bureau, headed by Bill Peeper, is projecting total visitors of $40.9 million, down from $45.1 million the bureau predicted in August.
LONDON-The $270 million purchase of the Belgian property company Banimmo by the Lend Lease Global Properties fund completes the funds $1.5 billion investment programme in Europe and Asia.
DALLAS-Cousins Properties and Macfarlan Real Estate rightfully exercise their bragging rights to a trio of office leases in Las Colinas and Dallas CBD. The lucky buildings are 6565 MacArthur at Sierra and Thanksgiving Tower.