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CAMBRIDGE, MA-DataPower Technology Inc. relocates its headquarters from 324 Rindge Ave. to One Alewife Center. The company, which wanted to remain in the area, recently secured $9.5 million in financing and needed additional space to accommodate its growth.
LONDON-Security Capital has sold Akeler, its European business park development operation, to Lend Lease. Akeler's portfolio consists of 13 parks in the UK, Germany and Portugal totalling 1.3 million sf and a further 2.9 million sf in the development pipeline.
NEW YORK CITY-Benjamin P. Harris is promoted to director in the investment firm's acquisitions department, which expects volume records for 2002. He tells GlobeSt.com that a dip in the economy prompts a move towards liquidity by below-investment grade companies, making for an active sale/leaseback environment.
LONDON-Marylebone Warwick Balfour Group has continued the phased liquidation of its property portfolio with the Pounds 20 million ($31 million) sale of a 3.5-acre residential development site at Royal Victoria Docks in east London to the housebuilder Barratt Developments.
RANCHO DOMINGUEZ, CA-Ontario, CA-based Apex Digital Inc. bought the industrial building from Kennedy Associates Real Estate Counsel of Seattle and plans to use it for warehouse and distribution operations.
MARINA DEL REY, CA-A family trust bought the building, which will be leased to a single tenant. The sales price of $168 per sf demonstrates the strong demand for owner-user office space in the Marina.
ANAHEIM, CA-A joint venture between Security Properties and Principal Capital acquires the luxury apartment property that stands at 650 W. Broadway Blvd. The 14-year-old building, which was renovated in 2000, was 97% occupied at the time of sale.
CARLSBAD, CA- Sammy Holding Co. will use its space as the company's America, Europe and South Pacific corporate headquarters and location for the development of the latest multiple-platform software and products.
PHOENIX-The 54,979-sf, 95%-occupied Chandler Business Park brings $2.8 million and the 44,069-sf, 75%-leased Roeser Business Park in Phoenix goes for $2.7 million. International Capital Partners of Scottsdale makes the buys.
BOSTON-The Boston Redevelopment Authority gives the go-ahead to the city's largest rental project since the 1970s. The Liberty Place project is a 439-unit development that will be located in the heart of the city's Chinatown neighborhood.