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TOMBALL, TX-After 15 years of holding, a Houston-based partnership has sold more than eight acres to a suburban retail developer. The land at the corner of FM 2920 and FM 2978 is platted for two restaurants and some spec inline shops.
BELLEVUE, WA-A publicly-traded software company, a law office and an architectural firm plan to relocate their Puget Sound offices to The Summit, the only remaining major office project currently under construction on the Eastside. Scaled back from 525,000 sf to 256,000 sf, it is slated for completion later this month and is 94% leased.
TEMPE, AZ-Stolper-Fabralloy of Wayne, PA enters into a 15-year lease to expand its Tempe operations. The firm will be relocating from South 24th Street. The plan is to use 20,000 sf for office and the balance for distribution.
DENVER-With 266 condominium units and 130,000 sf of office and retail space, the project financed by NorthMarq Capital's Denver office is the largest class-A project of its kind underway in the Tech Center.
LONDON-The government's rejection of proposals for a pounds 700 million ($1 billion) retail scheme in Liverpool has boosted rival plans by Britain's richest man, the Duke of Westminster, to redevelop Liverpool city centre.
PHILADELPHIA-A stable, but inefficient industrial market, high property taxes, lead to high yields and low prices in this market. The average 11.25% yield is topped only by Columbus, OH in a survey by Sperry Van Ness.
WOODLAND HILLS, CA-Red Sea Group U.S. buys the 101,000-sf office building, which is the U.S. headquarters of Germany's hair-care product manufacturer Wella Corp. USA and its Sebastian International subsidiary.
PEABODY, MA-Boston Marble leases 7,000 sf at 119 Foster St. at Naumkeag Business Park. The broker involved tells GlobeSt.com that warehouse space close to the city is becoming harder to find at a reasonable rate due to the Big Dig and the move to convert much of that space to higher paying office space.
NEW YORK CITY-The newly forged alliance, unveiled this morning, also includes Grubb's European alliance partner, Knight Frank. Company officials say the alliances total 8,000 professionals in five continents.
STREAMWOOD, IL-The 65,568-sf theater on a 14.7-acre at 1500 Buttitta Dr. is up for a minimum bid of $2.2 million. The Cook County Assessor's office pegs the market value of the property off Barrington Road at $6.72 million.