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CHICAGO-US Equities chairman Robert A. Wislow says designating "Chicago's distinctive front door" as a landmark district will make owning and operating properties across the street from Grant Park troublesome.
LOS ANGELES-The law firm of Murchison & Cumming will remain at 801 S. Grand Ave. in downtown Los Angeles for the next 10 years after it renegotiated its existing lease with Shuwa Investments Corp.
COLEMAN, FL-Despite protests from nearby Indian Oaks subdivision residents, the U.S. Bureau of Prisons has broken ground on an $89 million, 884-cell men's correctional facility that will house 1,000 inmates in this rural Sumter County town of 3,876 permanent residents. The site is 95 miles northwest of Downtown Orlando.
CANTON, MA-Teva Pharmaceuticals sells its 251,750-sf former pharmaceutical manufacturing facility located at 25 John Road to Liberty Properties, a Boston-based real estate investment and management company.
SEATTLE-Starbucks Coffee Co., the locally-based java retailer, says it will head south of the border. The company has signed a joint venture agreement with International and SC de Mexico, S.A. de C.V., an affiliate of Alsea, S.A. de C.V. Alsea is a leading quick service restaurant operator and foodservice distribution company in Mexico.
ATLANTA-The Atlanta office of Lend Lease Real Estate Investments gave the locally based developer a funding commitment on the five-year loan within two weeks, a factor that sealed the transaction for Oakmont which was shopping for the best deal with several lenders.
GARDEN GROVE, CA-Donald G. Abbey, Chairman and CEO of The Abbey Co., acquires Rodamco's interest through a redemption and purchase. The transaction gives Abbey full interest in the company.
ATLANTA-With plans to buy and sell a total $1 billion worth of properties over the next 18 months, the locally based firm is setting up three regions with separate directors to handle the volume.
QUINCY, MA-Lend Lease Real Estate Investments, Inc. acquires a 119,000-sf office building at 150 Newport Ave. The purchase of the four-story building was made on behalf of a pension fund client.
AUSTIN-Ground breaks this weekend on the 16,000-sf David E. Ruiz library branch in Austin's southeast submarket. The project, carrying a summer 2003 ribbon cutting, will create the city's largest branch in the network.