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OAK BROOK, IL-The largest industrial property owner in the market as well as the busy developer could be building more than 300,000 sf of Northwest Side manufacturing space as well as a 230-acre industrial park in the far north suburb.
OAKLAND, CA-A Development Counsellors International survey of about 250 corporate executives finds California has a very bad reputation. More than 50% of respondents listed California the least favorable business climate in the nation.
JACKSON, MI-While 12 stores trade for more than $39 million, three others are subject to lease termination. Sales must be approved by the bankruptcy court, but closings are expected by mid-October.
INDIO, CA-The Michigan builder is buying land for a 3,275-home Del Webb project that will include commercial development and an 18-hole golf course in the city east of Palm Springs.
OSWEGO, IL-The shopping center at Route 30 and Douglas Road is financed with a $6-million, seven-year, non-recourse mortgage from a life insurance company. Inland Real Estate Corp. also buys a Brooklyn Park, MN center.
PORTLAND-Publicly traded StanCorp Financial Group Inc. completes its initial public debt offering of $250 million, $200 million of which will be used to acquire the group life and disability business of Teachers Insurance and Annuity Association, a major commercial real estate lender.
LONDON-Marks & Spencer is to roll out its new Simply Food format in Northern Ireland with a requirement for ten new stores in the province. The high street food format has already proved successful in London and the South east of England and M&S expects to open 150 of the stores over the next three years.
SAN DIEGO-The transactions involve a total of 14,227 sf in Mira Mesa Business Park and Seville Plaza. In the largest of the three deals, U.S. Healthworks has renewed its lease for 6,494 sf in Mira Mesa Business Park.