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DETROIT-Projects include bus garage in Michigan and mixed-use entertainment, residential and commercial uses going up in Ohio as a result of state financial support.
IRVINE, CA-The buyers of the 56,015-sf multi-tenant building acquired it from The Muller Co. of Laguna Hills. The property was 100% leased at the time of the sale.
PHILADELPHIA-The 141-site community in Olmstead, OH gets a 10-year commitment consisting of an initial five-year, fixed-rate loan at 6.5% interest, followed by another five-year loan with a floor of 7% interest. It is provided at an 80% loan-to-value ratio.
CAMBRIDGE, MA-The $155-million Hyatt Regency Chesapeake Bay Golf Resort finally makes its debut after a series of false starts that began in December 2001. The 400-room luxury property covers the gamut of amenities with an 18,000-sf spa and a 150-slip marina.
WHITE PLAINS-GHP Office Realty reports that, in spite of uncertain economic conditions in the region, it recorded robust leasing and renewal activity at its two million-sf portfolio of properties in the New York metropolitan area.
PLEASANTON, CA-After five years of negotiations with the city, Ponderosa Homes reduced the number of single-family homes, included the senior apartment complex and agreed to sell six acres to the Pleasanton Presbyterian Church.
WEST HOLLYWOOD, CA-The 19-unit Savoy, a stately six-story building designed in 1929 by prominent architect Leland Bryant, fetches $4.2 million. It is located within walking distance of the Sunset Strip.
THOUSAND OAKS, CA-PCS Development Inc. of Los Angeles opens The Premiere of Thousand Oaks, a $20 million project on a four-acre site. PCS expects to begin construction this month on Premiere at CityPlace, a 221-unit mixed-use project in Downtown Long Beach.
SADDLE BROOK, NJ-The state's largest commercial real estate firm (by market share) reaches into the ranks of rival Cushman & Wakefield to replace Patrick Murphy in its top spot.