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ST. PETERSBURG, FL-The Orlando office of GMAC Commercial Mortgage Corp. arranged the financing for owner 3JG Trust's 1.13 million-sf business park, largest in the Tampa Bay metropolitan market. St. Petersburg is 80 miles west of Downtown Orlando.
FLAGSTAFF, AZ-The same buyer steps forward for a second phase at Timberline Village in Flagstaff. With the city's multifamily market so tight, it's a guaranteed moneymaker for the Bellevue, WA-based buyer.
FALLS CHURCH, VA-All 70,900 sf of the 18-year-old The Corner at Seven Corners shopping center sells in an $11.9-million transaction. Owner Terranomics Development succeeded with the help of Marcus & Millichap Real Estate Investment Brokerage Co.
LOS ANGELES-Citing the long-standing relationship, the great location and the resurgence of Downtown LA's South Park district, Employers Group recently completed a $2-million lease renewal for a full floor in Transamerica Center.
LANCASTER, CA-Passco Real Estate Enterprises acquires the Lancaster Commerce Center, a neighborhood retail power center located at the intersection of the Antelope Valley Highway 14 and Avenue K in the City of Lancaster.
SAN FRANCISCO, CA-The California Hotel Survey conducted by Atlas Hospitality Group predicts the gap between sales prices in Northern California and Southern California in 2002 will continue to narrow as room rates continue to soften.
HOUSTON-A.D. Vision will use its new space for office and a studio for its digital and audio productions. Vantage Houston Inc. is the developer of the business park, which calls for 260,000 sf at full build-out.
NEW YORK CITY-Vornado sold the property to a locally based JV last year for $25 million. A major renovation is ongoing and a slew of new tenants are in various stages of occupancy.
AUSTIN-The 102-unit Hamilton in South Austin pulls $6 million from California-based Concierge Asset Management, headed by Maxwell Drever. Austin Hamilton Ltd. of Friendswood, TX is the seller of the 5.2-acre holding.