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PHOENIX-Ross Smith is charged with leading an initiative to assist builders and developers in the purchase or leasing of state lands. Smith joins Grubb & Ellis after two years as president of SLAQ, a division of HeylCorp.
SEATTLE-The properties, previously operated by a subsidiary of Marriott International, were acquired for the subsequent lease by a joint venture that includes Fremont Realty Capital, a San Francisco based fund, and a group led by Dan Baty, CEO of Emeritus.
WALTHAM, MA-In yet a further demonstration that current market conditions have precipitated a flight to quality, Novell, Inc. leases 105,000 sf in Hobbs Office Park. The space had barely hit the market before the Internet company, which is using the new space to consolidate its offices, snatched it up.
MIAMI-The 500,000-sf open-air mall, built in 1960, sold for $23.10 per sf and will undergo a multi-million-dollar renovation and redevelopment by the new owner. The seller was Tashi Valley Inc., a Miami-based firm with Mideast financial connections.
ANAHEIM, CA-Coast Sign Co. acquires the newly completed, 72,000-sf industrial building, which will be Coast's new headquarters and manufacturing facility.
MIAMI-The Fort Lauderdale, FL-based contractor won the Excellence in Construction Awards for City Furniture's 660,000-sf Sawgrass Center in Tamarac, FL, and Rick Case Honda, a 60,000-sf auto dealership in Davie, FL.
DALLAS-PRG Realty's co-founder Mark Robertson taps his old partner, Roger Burke, to come on board as a principal. Matt Nine, who joined a few months ago, also is named principal. JPI hires a 30-year professional as partner in its Canadian division.
BOSTON-The Chinatown Progressive Association tries to prevent the Liberty Place Project--a 439-unit residential complex planned for Chinatown--from being built by filing a lawsuit against the city's zoning board of appeals and the project's developers.
AUSTIN-The economics aren't there to develop the North Austin land. But when the time comes, the review team suggests a build-out with academic and research purposes rather than support office or retail projects.
PHILADELPHIA-Cincinnati's locally based energy supplier buys naming rights to the Downtown Convention Center for $12 million, putting the reduced expansion plan back in play after the airline company backed out of an earlier commitment to hang its name over the door.