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MIAMI-The Tamarac, FL, warehouse/distribution facility filled up quickly, leasing about 75% of its space in one quarter. Meanwhile, South Florida's Butters Construction & Development Inc. and partners purchased the 107,804-sf building.
LAKE FOREST, CA-The Palo Alto, Calif.-based REIT, which specializes in multifamily properties, is adding 225 units to its already large portfolio of Southern California apartment buildings.
AUSTIN-Occupancy is the highest in the state, cresting close to 95% and creating a market of stable rent across all classes. Meanwhile, more than one million sf is rising, most of it as pre-leased product.
LAGUNA BEACH, CA-The builder of commercial and residential properties for the senior market says it is "taking increased measures to ensure that trading in its shares occur without naked short selling.
ELKRIDGE, MD-Storage Technology Corporation takes on 25,000 sf of space at the Lyndwood Executive Center in a seven-year leasing deal. The tape storage manufacturer will relocate its regional headquarters from Silver Spring, MD to the new three-story building in January.
ATLANTA-Locally based Robert Pattilo Properties Inc. sold the 30-year-old, 240,000-sf, 100%-leased structure at 13 Overmeyer St. in suburban Forest Park, GA for about $27 per sf.
PHOENIX-The Cascades sells for the second time in a month, bringing close to $7 million or $73,158 per unit. In August, the complex brought $64,474 per unit. The New York buyer came to town, liked what it saw and convinced the owner to sell.
NEW YORK CITY-At the commercial arm of the Liberty Bond Program's board of directors meeting today, the city and state will recommend that an issuance be approved for development of a 396,000-sf office tower. The asset will be located above the Atlantic Terminal Transit hub in Downtown Brooklyn. The Bank of New York has already committed to bring 1,400 employees to the space.
GARLAND, TX-The target tenant won't make a decision until the end of the month. In the interim, the price is being worked up and tenant proposals floated in anticipation of a second-phase start in the First Garland Business Park.