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LOS ANGELES-The Grove, a 575,000-sf outdoor retail and entertainment center, opens for business this week just east of the original Farmer's Market at Third St. and Fairfax. Caruso Affiliated Holdings is the owner and developer of the project.
LA VERNE, CA-Alpha Scientific Medical has already occupied the building, which is located at 1751 Yeager Ave. The facility is being used for warehousing and wholesaling. The property was sold by Askey International Corp. of La Verne.
TAMPA, FL-Taylor & Mathis also signs Advantis big hitters Irene Martinez and Ann Adams to handle the 240,432-sf One MetroCenter, the 398,871-sf Center Point Business Park and the 955,000-sf Tampa Distribution Center.
NEWPORT BEACH, CA-The private equity investment group acquires a 102-unit multifamily property in Corona. The apartment complex was 92% occupied at the time of sale.
RANCHO DOMINGUEZ, CA-Cal-West Express Co. has renewed its lease for 25,000-sf of industrial space and signed a new lease for another 30,000-sf in a different building. Both buildings are owned by The Carson Companies. The combined value of the six-year leases exceeds $2.1 million.
MIDLAND, TX-A limited partnership uses a 358-unit complex in Midland to secure a loan for nearly $3.5 million. NorthMarq Capital's Denver office arranged the financing package, the borrower's fifth for its Texas holdings.
SEATTLE, WA-Consultant Brian O'Connor says vacancies in Seattle's Downtown apartment market are now around 13%--but that figure could jump as many as four percentage points by mid-year.
PORTLAND-The Enron affiliate aims to supplant air conditioning units in buildings with a massive chilled-water air conditioning plant under construction at the Brewery Blocks. Its funding to finish the project is in question, but the company says it's far enough along to service its first client.
WASHINGTON, DC-Turner Construction Co. is finally in place for the long-awaited construction of the US Patent and Trade Office's new 2.6 million-sf office complex in Alexandria, VA. The project is due to be completed in June 2005.