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OAK PARK, IL-A mixed-use building on the far north side of this suburb immediately west of Chicago sells for $86 per sf, while a property near the village hall is bought for $500,000 for redevelopment.
RIVERSIDE, CA-ARCS Commercial Mortgage Co. LP closes the loan for Hidden Spring Apartments, a 112-unit Riverside complex. The financing has a 10-year term and 30-year amortization at a rate of 6.65%.
DALLAS-AmeriSouth Realty Group buys the 826-unit Park Woods in Dallas and 100-unit Springdale Apartments in Haltom City, a Fort Worth suburb. Another deal is set to close today, GlobeSt.com is told. AmeriSouth is out to buy 2,000 units this year.
DETROIT-Property owners have the entire month to pay delinquent taxes without penalty. After that amnesty period, more stringent action will be taken starting in May, including turning accounts over to a collection agency.
MEMPHIS, TN-The locally based chain is adding 1,064 rooms to its 118,870-room North American inventory with locations in Boca Raton/Deerfield Beach, FL; Fort Lauderdale, FL; Laurel, MS; Cumming, GA; and Petoskey, MI.
CANNES-London remains the world's most expensive city for office space, says a new survey by Healey & Baker. Tokyo is in second place and Paris moves up to third
NEW YORK CITY-Best Buy is getting ready to begin construction on a major distribution facility to be located in the upstate town of Nichols. The complex will supply products to retail outlets in 10 states.
NEW YORK CITY-The Manhattan-based investment banking firm continues its aggressive pursuit of industrial/office portfolios. This time out it's a four-property buy from a major plastics manufacturer that will continue to occupy the buildings under a 20-year net lease.
SAN FRANCISCO, CA-A new report by Cushman & Wakefield states that demand for industrial product should improve over the next 12 months, although slower in weaker areas like San Jose and the San Francisco Peninsula.