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NEW YORK CITY-Boston Properties revealed yesterday that it has signed a $1.06-billion deal to acquire 399 Park Ave. from Citigroup. The transaction is expected to close by the end of September.
ORLANDO-The planned 440-acre Groveland, FL community is in the boondocks of south Lake County and will take seven years to complete, but developer Dan Hessburg tells GlobeSt.com half of the planned 466 lots for single-family homes, townhomes, flats and offices are already sold.
SAN DIEGO, CA-The career services firm signs a five-year lease for 5,854 sf at 4445 Eastgate Mall. Drake Beam plans to move into its new space in December of this year.
NEWARK-The Georgia King Village in this city's Central Ward, will be rehabbed by owner Southport Financial Services with the proceeds of the financing.
GARDENA, CA-At $108 per sf, this $4 million deal is the highest price per sf to date for apartments in Gardena. The deal has caused other owners, heretofore undecided about selling, to put their units on the market as well.
ORLANDO-The Charlotte-based utility firm says it is abandoning the 360-acre project in Eustis, FL because the Florida Legislature didn't approve a bill this year allowing electric merchant providers to build plants that use natural gas. The site is 30 miles northwest of Downtown Orlando.
DETROIT-Wayne State University's plans begin to bring students to live on its urban campus. The new residence hall will offer two-person rooms with private baths at $6,100 for the school year.
CHICAGO-The communications provider, the byproduct of a merger between Gabriel Communications and Trivergent Communications, saves an estimated $1 million on its 47,000-sf lease extension.
SIDNEY, NE-Sealed bids are due Oct. 10 for the 500-acre I-80 Industrial Park and former Sioux Army Depot. Sheldon Good & Company Auctions, LLC's Denver office is handling the sale.
HOUSTON-The Work Source, a non-profit organization, goes from a Greens Parkway office building to Bridgewood II, a 77%-occupied structure along Sam Houston Parkway. Tomlinson Commercial and PM Realty broker the pact.