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MIAMI-CIBC World Markets, the investment and merchant banking arm of the 134-year-old, Toronto-based Canadian Imperial Bank of Commerce is providing a fixed-rate, 10-year loan at 7.2% interest to Johnson Capital Partners of Arizona for its 220,658-sf, 98%-leased Boulevard Square in Pembroke Pines, FL.
CORONA, CA-La Canasta Furniture inks a four-year lease renewal and expansion valued at $3.8 million for 173,000 sf of industrial space at 1235 Quarry St. The company has been located at the 418,000-sf facility for the past three years.
DENVER-A $25-million bond issue, which would not increase property taxes, could be one of the financing vehicles for a renovation of the Quigg Newton Auditorium Theatre. Another $50 million would be needed from seat tax revenue.
PHOENIX-Terros Inc. has signed a 10,138-sf, long-term lease for 3003 N. Central Ave. Move-in is set for December. An Insignia/ESG team and Allen Tenant Services negotiate the terms to make the close.
ATLANTA-The Charlotte-based firm names Marvin E. Brown of Eagle North America and Jerry D. Craft of InfiCorp Holding to its board of directors, expanding it from five to seven and increasing its proportion of independent directors to 70%.
DETROIT-Two Oakland County industrial parcels, one with a 21,000-sf building and the other a 2.5-acre of land, have been sold. A paint finishing company buys the building in Walled Lake, MI.
PORTLAND-The amount of sublease space nationally is equal to virtually all of the new office space built and delivered over the past two years, according to a new report. In the Portland region, the amount is equal to just last year's deliveries. Add in direct vacancies, however, and Portland's got at least a four-year supply.
RICHARDSON, TX-RREEF's willingness to bend the terms fills a chunk of Ericsson's office space at 715 N. Glenville. InterFET the tenant gets signing incentives that the broker says are just too good to pass up.
PHILADELPHIA-Conversion of the 1925 Georgian Colonial Revival-style, former Insurance Co. of North America building is complete. Located at Arch and 16th Streets, the 20-story landmark contains 267 rental units ranging from $1,195
DALLAS-Once "hot" properties, the clients now are classified as under-performers and budgetary drains. Cutting them loose isn't cheap or easy. In other Q2 news, a Dallas major league player is welcomed to the team.