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BEVERLY HILLS, CA-NSB Associates has completed NSB Value Added Fund I with the acquisition of $30 million of industrial "value- added" properties located in Southern California. The Fund's eight assets encompass approximately 500,000 sf of single- and multi-tenant industrial properties located in Los Angeles and Orange Counties.
NEW YORK CITY-The locally based REIT sells off assets in Bessemer, AL and Modesto, CA for an aggregate $8.4 million. Proceeds from the transactions are earmarked for the just-completed acquisition of Lake Forest, CA-based Apria Healthcare Group Inc.
SOUTH BRUNSWICK, NJ-The sprawling distribution facility, located in the hot Exit 8A submarket, is being shopped by Insignia/ESG's Industrial Services Group.
MILWAUKEE-While dips in occupancy rates and revenue per available room were not as bad as national averages, losses in Marcus Corp.'s lodging divisions are more than offset by revenue at the company's theaters.
LOS ANGELES-The Hollywood revival continues with the opening of the Dome Entertainment Center. Robertson Properties Group has completed the $100 million, 225,000-sf destination that has sparked broad reinvestment in the surrounding area.
SEATTLE-The office supply retailer leases a portion of the former Ernst Hardware building at the mall, which is located at 2501 Southwest Trenton St. in West Seattle.
LONDON-Standard Life has paid more than 50 million pounds ($72 million) for the 150,000-sf West One retail park in Eccles, Manchester. The price reflects a yield of 6.25%.
VAIL, CO-American Skiing Co. is selling the Lake Tahoe area property within the next 60 days, even as it expects more population growth and time-share visitors.
BROOMFIELD, CO-One of the worst kept secrets in the suburban Denver office market is out, as Frank Kelly of CB Richard Ellis is marketing five class-A buildings occupied by Level 3 Communications Inc., which is quickly shedding staff.
WOODLAND HILLS, CA-The second phase will consist of a three-story, 90,000-sf office building with two floors of tenant improvements, as well as traffic enhancements to Conoga Blvd. and Burbank Ave., and public and private utilities required to service the project. The total value of this project is more than $100 million.