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DULLES, VA-McLean, VA's Aviation Facilities Co. Inc. sells a 95% stake in Dulles Airport's Cargo Building 5. AFCO retains a 5% interest in the 285,000-sf distribution facility, as well as management and leasing responsibilities.
ORLANDO-The theme park didn't admit any wrongdoing in closing the books on an eight-month-old Orange Circuit Court civil lawsuit that charged Universal with stealing a New York businessman's idea for its two-level, 22,000-sf Latin Quarter restaurant in the two-million-sf CityWalk attraction.
LOS ANGELES, CA-Mid-Wilshire's biggest office landlord, Dr. David Lee, acquires his first Downtown property here with the purchase of the 150,000-sf Banco Popular building.
PHILADELPHIA-A joint venture between New York-based Praedium Group and Narbeth, PA-based CK Properties sells a 14-building, 172,000-sf office park in suburban King of Prussia, PA to locally based Berwind for approximately $98.80 per sf. The property is 91% occupied.
PORTLAND-Mattei Insurance Services and Teredyne renew their leases and Hi tech Engineering joins the 342,000-sf park, keeping occupancy in the 93% range for UBS Realty Investors' pension fund clients.
SAN DIEGO, CA-The 10-unit property stands at 4160 36th St. Completed in 1971, the 36th Street Apartments complex needs at least $30,000 worth of repair work. It was 100% occupied at the time of sale.
DETROIT-Harmony House lasted 55 years, featuring independent artists and knowledgeable employees at 37 stores. With 17 stores already closed, 11 more will shut their doors at the end of the month with the remaining nine closing by the end of the year.