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ARLINGTON, VA-AHC Inc, a non-profit affordable housing developer, joins forces with Arlington County officials to acquire the 465-unit Gates at Arlington in a $35.5 million bid. Both AHC and the county are eager to preserve the complex of low- to moderate-income housing.
ORLANDO-The locally based national wholesale distributor of construction and industrial real estate materials posted first-quarter sales of $790 million compared with $775 million a year ago.
GLENDALE, CA-The project is expected to reach completion by the fall of 2003. It is on 5.12 acres of land and is the first apartment building built in Glendale since 1989.
LANSING, MI-An industrial park expansion and Downtown development projects are included in almost $20 million in Community Development Block Grant awards, aimed largely at older municipalities.
ATLANTA-One Liberty Properties Inc. of Great Neck, NY. paid an undisclosed seller $14.1 million or $160.23 per sf for the 88,000-sf, 24-screen AMC Southlake Pavilion 24 Theatre in Morrow, GA.
WASHINGTON, DC-The National Association of Realtors announces its plan to construct its own $45 million headquarters on a parcel of land just blocks away from the Capitol. Upon its projected completion in 2004, NAR will occupy 33,000 sf of the 93,000-sf building, leaving the rest open for lease.
SEATTLE-The Port of Seattle's largest warehouse tenant says it will vacate 420,000 sf and no longer ship containers through the Port. Hasbro Inc. had been a tenant for more than 30 years. It now will consolidate operations in Ontario, Calif.
SAN DIEGO-Tri-National Development Corp. completes the first of four phases of its work on the entrance and permanent easement to its Vinas de Bajamar resort and residential property in Baja
SANTA ROSA, CA-The purchase of 149 homes by Pacifica Co. from Japanese billionaire Genshiro Kawamoto came as good news to renters of the complex who were faced with eviction. Now they will be given the option to buy the homes or continue renting.
SAN DIEGO-North County racks up two sales--a 38,491-sf office property in Scripps Ranch and a 20,000-sf retail building in San Marcos. The combined value of the two transactions total more than $6 million.