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RANCHO SANTA MARGARITA, CA-Competition Systems, a manufacturer of electronic components for race cars, acquires the 12,000-sf facility. It plans to relocate to the newly acquired building from Lake Forest in September.
PHOENIX-The Arizona School of Massage Therapy lines up 16,000 sf for its second Phoenix campus. The new deal goes to Metro Marketplace, a 159,580-sf retail center at the junction of Interstate 17 and Dunlap Avenue.
SANTA CLARITA, CA-The Sierra Crest Center is in a growing residential area north of Los Angeles. It was built in 1991 and was once leased at high rates, but it went into foreclosure during the recession of the early 1990s.
ATLANTA-The global tire supplier signs a 10-year distribution center lease with owner Aurora, CO-based ProLogis Inc. at Eastgate Business Park in Lebanon, TN. Construction begins next month and completion is set for first-quarter 2003.
CONCORD, CA-The owner of a local construction company receives the fine after pleading guilty of draining two ponds where the California red-legged frog had set up active breeding grounds. He also must turn his personal ranch into a permanent conservation area.
LONDON-Office vacancies in central London rose 13% in the second quarter of 2002, according to CB Hillier Parker. And demand is continuing to decline as businesses put expansion plans on ice.
PACOIMA, CA-The shopping center is occupied by a highly successful grocery chain that caters to Hispanic shoppers, broker George Russell of the Charles Dunn Co. tells GlobeSt.com, adding that the sale is probably the highest price per sf paid for a Pacoima center.
ROYAL OAK, MI-Inadequate sites and resident outcry have plagued the federal mail agency's quest to find a suitable site for a 700,000-sf distribution center that would serve portions of Oakland and Macomb counties.
WESTCHESTER-The New York Stock Exchange is studying the possibility of building a second trading floor outside of Manhattan and one possible location could be somewhere in Westchester County.
SEATTLE-King County preserves the 443-acre Ames Lake Forest near Carnation through its transfer of development rights program. The rights have been banked for resale to landowners inside the city's Denny Triangle neighborhood.