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SAN FRANCISCO-San Francisco Supervisor Aaron Peskin blasts plans by the Hasting College of the Law, which will demolish affordable housing units to build a giant parking garage.
PHOENIX-Linthicum Constructors of Scottsdale is starting work on a $6.5-million multi-use facility in Sun City Grand while Iowa-based Weitz Group has broken ground on the $3.5-million Prescott Lakes athletic club. Both projects deliver in 2003.
PHILADELPHIA-The 1.2 million-sf regional shopping center features a new 225,000-sf Macy's store. The project is the first joint venture between PREIT and the Pennsylvania State Employee Retirement System.
NEW YORK CITY-Locally based Ackman-Ziff Real Estate Group arranged the loan, which is being used to refinance existing construction debt. The assets involved include eight facilities located on Long Island and in New Jersey.
PHILADELPHIA-The Newtown Square, PA-based REIT finally gives a name to its newly designed office tower. To be located adjacent to 30th Street Station, the 28-story structure will be built from a design by architectural powerhouse Cesar Pelli.
BASKING RIDGE, NJ-OneBeacon Insurance Group will take over the space at Basking Ridge Corporate Center formerly occupied by United Health Care Services. The space is located at 131 Morristown Rd. in a 212,000-sf office building.
BOCA RATON, FL-The building that housed American Media Inc. before its October anthrax attack may become the property of the Federal Government. AMI, unable to procure sufficient public funding to decontaminate the 65,000-sf structure, wants to trade it for a government cleanup job.
TEMPE, AZ-The Jackson, MS-based REIT acquires two buildings to take title to all of the Broadway Industrial Park. EastGroup's other park holdings total 237,000 sf in four buildings.
PHILADELPHIA-Thomas Properties purchases the 29-story Center City Philadelphia asset on behalf of the California teachers' pension fund. Ohio State Teachers Retirement System is the seller with CBRE acting as broker.