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DALLAS-Months of bargaining end early next week when Mack-Cali sells four of six Dallas-Fort Worth office buildings to Brookview Partners. The buyer's savvy talking delivers a selling price that's $6.5 million less than the quartet's assessed value and $1 milion below a recent appraisal.
ALBUQUERQUE-The New Mexico real estate company is ready to wheel and deal for tenants on the 170,000-sf One Sun Plaza. Sun Healthcare, now out of its Chapter 11, stays put in a 60,000-sf office building that's been leased for 10 years.
TROY, MI-Although Behr America's new corporate headquarters is set for a grand opening next month, The strongest Detroit area office submarket also sees development in the industrial, retail and multifamily condominium sectors.
DENVER-The new bill for design work of the $268-million expansion of the Colorado Convention Center is now $20 million. "Co-development" design options related to retail space account for the increase.
ATLANTA-Colonial Properties Trust of Birmingham, AL has sold a five-property multifamily asset package in Alabama and Florida to Philadelphia-based CMS Cos. for $44,872 per unit.
CARSON, CA-The building is located at 1751 E. Del Amo Blvd. Studio Molding is vacating the premises to expand to a 100,000-sf facility also in Carson. The deal was a reverse 1031 exchange.
CHICAGO-R. Webber Hudson moves up from regional manager to president of leasing for Urban Retail Properties Co.'s 41-million-sf retail property management portfolio. Besides coming from a retail family, Hudson's made a name for himself for administrative and leasing talents.
CORONADO, CA-Under the agreement, the hotel will pay the city $1 million over 15 years in exchange for public improvements related to expansion plans for the famous 30-acre Hotel del Coronado. Destination Development wants to build new guest cottages, a convention center and new pedestrian access.
CHICAGO-At 95.6%, Trizec Properties, Inc.'s 5.9-million-sf Chicago portfolio boasts an occupancy rate at least six percentage points better than U.S. Equities Realty's most recently estimate for the Central Business District.
DALLAS-Staubach Retail Services takes a minority interest in Fort Worth's Buxton research company and Dallas' Davaco, formerly Fixture Perfect International. In turn, they get minority interest in Staubach Retail.