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ATLANTA-The former director of Cushman & Wakefield's structured finance group will lead Wells Real Estate Funds' efforts to expand its sale/leaseback portfolio which is shooting for $1 billion in investment sales over the next 12 months.
MINNEAPOLIS-Two new concourses and an expanded third concourse will add some 36 new gates, as well as some retail space along the way. It is one phase of a $250-million expansion at Minneapolis-St. Paul International Airport.
DALLAS-Gemstone Hospitality gets a five-year contract, with renewals, and a percentage of the profit for Hotel ZaZa, seeking its fame as a 146-room trendsetter. The developer's "yen" for Zen and atmosphere unveil in October in Uptown.
SOLANO BEACH, CA-The 46,228 sf, three-story, class A suburban office project is owned and managed by Hibicus Investments. The value of the combined leases is $2.1 million.
DENVER-A strong market creates a "Catch-22," as owners are reluctant to prune or upgrade their holdings because of a dearth of available product to replace their dispositions, a study by Grubb & Ellis observes.
ORLANDO-Lake County developer Gary Morse, a staunch supporter of Gov. Jeb Bush and President Bush, is in a political and legal battle of his own as he fends of activist groups trying to cripple plans for the addition of 43,000 homes and four million sf of retail in Lady Lake, FL, one of the fastest growing communities in the nation.
HOUSTON-Bank One has its CB Richard Ellis broker on the prowl for locations. Ground breaks in 30 days on one site while another location is under contract. The broker has her eyes on nine others in and around town.
PHOENIX-Corstar Financial moves from an abutting office building into a 5,159-sf first-floor suite in the Transwestern/Mony-owned structure along North 16th Street in Phoenix. The deal is valued at $574,368 over its term.
COSTA MESA, CA-The developer of storage networking products signs a 10-year build-to-suit lease with an option to buy. The agreement calls for an initial phase of 180,000 sf with an expansion capability of up to 245,000 sf.
SEATTLE-Downtown activists plan to put the measure before voters this November. If approved, Referendum 51 would generate $7.7 billion from gasoline taxes, motor vehicle license taxes and various other sources. The money will help fund statewide road projects around the state.