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LONDON-Lehman Bros and the Witkoff Group have sold the Thames-side landmark Shell Mex House to the Tchenguiz brothers' Rotch Group for Pounds 327.5 million ($475 million), doubling their money in just three years.
PHOENIX-The broker on the deal says sublease terms and number of dock doors convince Express Packaging to take a sizable chunk of industrial space in Sun Distribution Center. The sublease is valued at $1.2 million over its term.
ISSAQUAH, WA-The software giant on Tuesday closed on the first 37.5 acres of a campus that may eventually expand to 150 acres and hold 2.95 million sf of office space.
LOS ANGELES-Promising to bring the National Football League and the Super Bowl back to Los Angeles, Anschutz Entertainment Group has plans to build a 64,000 seat stadium in the Downtown section of the city not far from its successful Staples Center development.
SAN ANTONIO-Two newcomers to the market lease a 72,000-sf building at ProLogis' Industry Park Distribution Center. A third transaction reserves 45,000 sf in an under-construction 118,800-sf building that's now 37.9% leased.
ATLANTA-Sunrise Medical of Carlsbad, CA is taking the space for five years at the spec-built, 283,756-sf Building H at the 250-acre Chickasaw Distribution Center in the Southeast/Airport submarket of Memphis, TN. The lease is valued at an estimated $1.37 million.
WICHITA, KS-The hotel chain reports a loss of $13.7 million, saying business travel has been slow to recover. An indication is a 7.4% decline in revenue per available room.
DENTON, TX-Hunt Properties has rolled 5.5 acres in Denton into its plans for either a retail center or pad sites along Loop 288. More should be known when brokers get back from ICSC. In Frisco, C&B Electric buys four acres.
ORINDA, CA-The Orinda City Council and members of the community discussed the future of Pine Grove, a prime piece of real estate owned by the school district and the city, which could provide a much-needed revenue stream for the school district.
BROOKLYN CENTER, MN-Shaw-Lundquist Associates, Inc. will do the construction on the project, the largest component being 22,000 additional sf at the Brookdale Area Library.