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PHILADELPHIA-In three separate transactions, 120 local multifamily rental units change ownership at prices ranging from $15,242 per unit to $34,722 per unit. The largest of the class-C buildings, Ivy Court in the East Oak Lane section, was in receivership.
DALLAS-Vacancy is still above 8% so it's not likely that building owners will get to control the rates before the end of the year. But, the pendulum is swinging a bit away from the tenants' say with new supply leveling just enough pressure.
WAKEFIELD, MA-Epsilon leases 100,000-sf of space at 601 Edgewater Dr. The company, a subsidiary of Relizon, took a 10-year lease worth $23 million in a deal that is being called the largest in suburban Boston this year.
SAN DIEGO-The master-planned commercial development in La Jolla includes a 217,000 sf class A office building, a 23,000 sf restaurant complex and an 1,181-space underground parking garage.
PHOENIX-The undertaking will add 186,286 sf of office and industrial space to one of Deer Valley's largest "commerceplexes." Delivery is set for early 2003. The team already is talking about a third phase.
SEATTLE-The six-story building is planned for the Ballard neighborhood. It includes 7,200 sf of commercial space on the ground floor. The city recently approved designs for the $22-million project. If there are no appeals, a Master Use Permit will be issued in the next several weeks.
NEW YORK CITY-The partnership has already purchased a 50,000-sf Queens warehouse and will acquire and redevelop 15 outer-borough properties over the next three to five years. Sizes will range in size from 50,000 to 100,000 sf.
DENVER-The $12-million Clyburn Apartments will be occupied by residents 55 years old or older making less than $33,000 a year. The 100 units are the first of 4,000 multifamily units coming to the redevelopment of Stapleton International.