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PORTLAND-Leveraging capital from a recent land sale in Sacramento, the holding corporation for the assets of Howard Hedinger spends $5.4 million on Highlands Plaza, a 51,000-sf, 98%-leased multi-tenant medical office building at 5440 S.W. Westgate Dr. in Sylvan.
AUSTIN-The database software company has bought 11400 N. Lamar from AT&T. The plan, just like AT&T's, is to build out a data center in the three-year-old building. It will make the fourth such asset for the Oracle portfolio.
DALLAS-Bill Flaherty exits Hillwood for Maguire Partners in a plan to expand Solana while scouring Texas for other development opportunities. A Lend Lease principal goes to Trammell Crow, where he is tapped to oversee his former employer's portfolio.
HOUSTON-Novus Oil & Gas secures 3,734 for its office in Millennium Tower while Moex Texas reserves 2,167 sf in the premier office building in the Westchase submarket. Considering vacancy is 26.4%, it's good news for the building owner.
MIAMI-In a $53 million deal, the Miccosukee Tribe acquires a coveted 223-acre plot of land. Local water management officials had been eyeing the property for a water storage reservoir, but are now left to wonder what the tribe will do with the land.
HARVEY, IL-Hair-care products manufacturer Summit Laboratories relocates from nearby Chicago Heights after acquiring the property at 17010 S. Halsted St., which had been listed for sale at less than $17 per sf.
SEATTLE-Three apartment complexes trade hands, indicating that the Puget Sound multifamily market is managing to stay afloat even in rough economic waters. Investors appear to be taking this lull and hoping to turn transactions into future opportunities.
DENVER-The Terminal Annex Postal Station at 1595 Wynkoop, next to Union Station in Lower Downtown, has been on the market for more than a year. However, postal services are being relocated next week.
TAMPA, FL-The city moves forward with its planned $52 million Tampa Museum of Art as architect Rafael Vinoly reveals his design for what will be a 124,00-sf, six-story arts facility. Construction is expected to begin next year should be finished in December 2004.
CHICAGO-By paying $7.15 million for the remaining air rights under 10 and 120 S. Riverside Plaza, Trizec Properties Inc. now has a fee-simple interest in the two 685,000-sf assets rather than leaseholds. The properties are built over train tracks and Union Station passenger platforms.