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CHICAGO-Corus Bank and another lender deliver the financing package for the 213-unit Pinnacle condominium tower at 21 E. Huron St., where Chris Carley's The Fordham Co. has designed "five-star hotel" amenities into the $225-million project.
HENRICO COUNTY-Less than a year after construction began, heat-exchange equipment manufacturer Alfa Laval Inc. has completed its $10 million, 90,000-sf expansion. The new plant sits adjacent to the company's existing 85,000-sf facility in the International Business Park, and will house 100 more workers.
ATLANTA-A group of unidentified Chicago investors pays the Sacramento, CA-based development company $35.50 per sf for the building at the Kendall Distribution Center in Fulton County, GA.
SAN DIEGO, CA-The office and industrial transactions involve a 37-month agreement for drop ceiling production area and office space at 7340 Trade St., a 36-month lease for office and warehouse space at 9682 Via Excelencia and a 35-month deal for general office space at 16644 W. Bernardo Drive.
ARLINGTON, TX-Post Properties sells the 167-unit Post Ascension Point to a buyer who plans to return it to its original intent. The purchase is funded by a $7.75-million, four-year loan from La Jolla Bank.
SUGAR LAND, TX-The 30,000-sf terminal will cost close to $5 million, but the feeling is it will be money that's well spent since more fliers are turning to smaller airports to avoid longer lines at mainstream facilities.
PHILADELPHIA-Office leasing activity in the state's Lehigh Valley submarket slipped during the second quarter compared with the same period a year ago, according to data from the local office of Trammell Crow. Meanwhile, industrial vacancy there remains at 14%.
SEATTLE-Based on capitalization rates and price-per-sf paid, Seattle ranks No. 1 and Ventura and San Diego, Calif. are close behind in a new study released by Sperry Van Ness of San Francisco, which also ranks the best buyers markets around the country.
CHICO, CA-The Ceres Plaza apartment complex was built in 1984 and is 98% occupied. The property consists of 36 studios, 40 one-bedroom units and 108 two-bedroom units.
ORLANDO-Kevin H. Azzouz, a 42-year-old retired software industry millionaire turned developer, has purchased the estimated 25,000-sf Union Church building for $1.4 million ($56 per sf) and other Downtown properties, a move residents in this suburban town of 2,300 permanent residents see as a monopoly-game maneuver to destroy the pastoral lifestyle in the 120-year-old community.