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ORLANDO-Chicago-based Alter Group developed the one-year-old, four-story, 226,000-sf structure at the Quadrangle Office Park for $40 million or $177 per sf. Falcon Real Estate Investment Co. paid $35.76 million for the fully leased property occupied by Siemens Westinghouse Power Corp.
TROY, MI-The multifamily and retail sectors are strongest in this suburb of Detroit, with new condominium projects for about 360 units and shopping districts springing up all over the city.
ESCONDIDO, CA-Pinamonti Investments acquires the 42,871-sf LinMar Center from an LLC. The complex, completed in 1980 and renovated in 2001, is 96% leased.
LONDON-Defence Estates, the property arm of the Ministry of Defence, has sold the 193-acre Queen Elizabeth II Barracks site in Church Crookham, Fleet, Hampshire to Bryant Homes. Bryant plans to build 1000 homes as part of a new community.
LONDON-Hammerson, one of Europe's biggest owners of town centre shopping malls, has moved into the out-of-town retail sector with the Pounds 57.7 million ($88 million) of the Fforest-fach Retail Park in Swansea, South Wales.
ORLANDO-Orange Circuit Judge Joe Baker has ruled 92-year-old Clarence Moore couldn't back up his claim that his California-based granddaughter forged his name to a property transfer deed in 1987. Universal bought the land in 1993 for $1 million. Its estimated value today is $2 million.
BEDFORD, TX-Warrantech ends a year-long search to become the first tenant in a DalMac-owned, 115,000-sf office building in Bedford. Stream Realty brokers the 10-year lease for the relocation from a suburban neighbor.
PHILADELPHIA-As Ames Department Stores vacates 67 stores in Pennsylvania and 11 in Ohio, published reports estimate that retail rental rates, already dampened by the closing of 17 Youngstown, OH-based Phar-Mor stores, will drop another $4 per sf.
ATLANTA-Overall vacancy at the end of the second quarter was 14%, up from the 10.1%-rate for the same period a year ago, according to the Charlotte office of CB Richard Ellis Inc.
HOUSTON-Corbett Personnel Services lines up 3,821 sf at 3100 S. Gessner and Moody & Overstreet are in for 3,534 sf at Millennium Tower at 10375 Richmond Ave. One deal pushes the building's occupancy to 58% and the other to 78%.