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MESQUITE, TX-A Dallas partnership puts a new twist on the old problem of a big box vacancy. With the plan, the team buys the 46,833-sf MJDesigns building at Town East Mall at "substantially below the appraisal," a partner confides.
WASHINGTON, DC-Six teams of architects and engineers have made the US General Services Administration's list of designated groups to submit design proposals for the multi-million renovation of its aging 830,000-sf complex. Work on the project is scheduled to begin in December 2004.
ORLANDO-Neighboring Orange County has been renting 160 beds costing taxpayers $22 per inmate per day for the past two years. Now, however, it has reduced its inmate count to 3,700 from 4,250 and no longer needs the extra space.
LINDEN, NJ-The 11-story property will include up to 126 seniors' apartments, with a branch of the public library slated for the ground floor of the project. Architectural firm Gran Associates will develop the project.
MINNEAPOLIS-The first wind energy park developed by Spanish windmill maker Grupo Auxiliar Metalurgico SA and developer Navitas Energy Inc. would also likely be built in Minnesota.
CHICAGO-Parkway Properties, Inc. finds a joint venture partner in New York City-based Investcorp for the 1.07-million office tower it acquired a year ago for $173.5 million. Investcorp has paid $125 million for a 70% interest in the property.
AUSTIN-Balcones Dermatology and an accounting firm reserve an aggregate 15,200 sf in the two-building office complex in the north submarket. The dermatologist takes the largest block, 10,000 sf, and agrees to stay for 10 years.
DETROIT-EDS Corp. is considering space in GM-owned Renaissance Center, among other locations in Southeast Michigan. A large contract with General Motors does not make the Renaissance Center a lock.
ANAHEIM, CA-The new tenant, Lee Ah Sheng Enterprises Ltd., has inked a six-year lease to occupy a 50,160-sf industrial facility here. The new space, which will house the company's Southern California headquarters, is twice the size of Lee Ah Sheng's current site.
CHICAGO-LaSalle Street Capital, Inc. would pay 7.25% interest on notes under a tax increment financing deal that is in front of the city council. They will build a 31-story, 1.3-million-sf office tower, the first of two.