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CHICAGO-The Near South Side is booming with residential development in the massive Central Station development, but Timothy Desmond still hopes to land a major office tenant for Roosevelt Road. "If we can get that first guy to go in there, that'll be a big step for us," he says.
NEW YORK CITY-The real estate trust disposes of 765,887 sf in non-core assets located in Pennsylvania and New Jersey. The largest sale is a 766,000-sf industrial/flex portfolio that went to Chicago based First Industrial Realty Trust for $38.9 million.
SAN FRANCISCO-An affiliate of Pritzker Realty Group has secured a $48-million refinancing of El Paseo Mall, a 341,069-sf shopping center in San Jose. The lender was Metropolitan Life Insurance Co.
CHICAGO-The building formerly known as the Palmolive, and later, Playboy, building will be converted to 140 condominium units with retail space as well as the logistically challenging addition of parking.
LONDON-Fashion designer Paul Smith has bought a 30,000-sf Covent garden headquarters from the beleaguered electronics group Marconi. But it will still retain a presence in its home town of Nottingham.
FOXBOROUGH, MA-Midas Vision Systems, Inc. leases 38,400 sf here at 77 Green Street. The area, located about 25 miles south of Boston, has experienced a steep increase in vacancy rates over the past year.
FORT WORTH-Alliance Operating Services is ready to roll as the metroplex's third centralized examination station. Some 4,000 sf of the group's 80,000 sf at Alliance has been ticketed for the inspection site, but as much as 50,000 sf is on standby.
NEW ROCHELLE-Signature Bank and Webster Bank report they have expanded their operations into Westchester County and lower Fairfield County respectively.
ORLANDO-The Central Florida Commercial Real Estate Society cited Mark L. Findura, president, R.J. Twitty & Co. II Inc., as overall top producer in commercial sales and finance; investment sales; and land sales/production.
ATLANTA-Cedar Partners LLC paid $1.35 million or $6,683 per unit for the 202-unit, 31-building Cedar Point Apartments in suburban Warner Robins, GA. Regency Partners LLC paid $1.78 million or $13,051 per unit for the 136-unit, 21-building Regency Club Apartments in Albany, GA.