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OAK BROOK, IL-A 620-acre ground lease at CenterPoint Intermodal Center in Elwood, IL is securitized, resulting in a bonds that pay 6.641% interest over the 18-year life of the lease. A sale of the underlying property is expected, with the buyer expected to assume the bond debt.
IRVING, TX-A Texas investment group acquires the five-acre holding from Stewart & Stevenson Realty. Standard Waste already moved into 75,000 sf while the owner's broker is close to signing a prospect for the balance.
WASHINGTON, DC-The 212,500-sf Franklin Tower in the East End gets two new tenants with Anheuser-Busch and Household Financial Group signing leases for 4,258 sf and 5,297 sf of space, respectively. Office space in the 11-year-old structure leases for about $45 to $50 per sf.
LONDON-Mayor Ken Livingstone's plan for 23,000 new homes and up to seven million sf of new offices every year in his draft Spatial Development Strategy has received broad support from London bodies.
SAN FRANCISCO-Cushman & Wakefield has released its preliminary second-quarter 2002 report, which reveals that the San Francisco office market is still suffering from the technology crash.
EAST RUTHERFORD, NJ-Holliday Fenoglio Fowler's New Jersey office arranged the funding for developer Branca Properties, which is proceeding with the new 183,000-sf flex building on a speculative basis.
BOSTON-The Massachusetts Convention Center Authority appoints a committee to consider selling the 193,000-sf Hynes Veterans Memorial Convention Center. A new 516,000-sf center is currently being built in South Boston.
SAN DIEGO-Commercial real estate construction permit activity was down inSan Diego County in May, a function of the slowing economy and diminisheddemand, according to a report.
LONDON-Westfield Shoppingtowns, the Australian shopping centre operator, has finally come forward with its first concrete proposals for a UK project two years after entering the market. It has lodged a planning application to double the size of Nottingham's Broadmarsh centre to 1.3 million sf.
PHILADELPHIA-Two Delaware Country, PA projects receive $2.5 million in federal funds for their participation in East Coast Greenway, a 2,600-mile path linking cities from Maine to Florida. The projects are the Wharf at Rivertown and a streetscape in Marcus Hook.