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WASHINGTON, DC-The $144 million, 400-room Mandarin Oriental Hotel will offer 8,300 sf of meeting space and will sit in close proximity to the city's new convention center, which is expected to open next year.
RICHMOND, VA-The 23,700-sf structure that houses the local US Drug Enforcement Agency office sells for $2.25 million. The Class B building, built in 1989, was once home to the local Federal Bureau of Investigation office.
SAN DIEGO-The most recent data from the RealFacts December survey of 429 large apartment complexes in San Diego County shows the year-end average occupancy rate was 95.8, falling just 1.9% over the year.
BEVERLY HILLS, CA-The initial offering price for the 28,320-share offering was $3,300 apiece. Shares closed their first day of trading at $4,300. Nikko Salomon Smith Barney was the lead manager of the syndicate.
NEW YORK CITY-Donald Trump and his Japanese investors have negotiated a deal to sell the Empire State Building to master leaseholder Peter Malkin. The sale could be completed in six weeks.
AUSTIN-The forces are in place to make Austin one of the most balanced major retail markets in the US, reports Weitzman Group/Cencor Realty Services. Deliveries have dipped, rents stabilized and occupancy remains relatively constant.
HOUSTON-A two-building, 60,240-sf acquisition with a Fortune 500 tenant sparks a sale to an investment group, actively scouting for other buys in the region. Sources say the area is bringing $30 per sf for comparable properties.
FORT WORTH-Travis Williams, raised in Fort Davis, TX and living in Indonesia for 15 years, is bringing his successful European importing business to his native state. The collectibles marketer buys an industrial site on Fort Worth's West Side.
OAKLAND, CA-The 17,500-sf building was the first of five Carnegie-endowed libraries built in Oakland. It served as the city's main library until 1951. It is now a museum and library focused on the African American culture.
PHOENIX-NDC Health weighs relocation and then decides to stay put at the Biltmore Financial Center. The 128,000-sf, 10-year pact has property owners in the Camelback Corridor breathing easier, says one of the dealmakers.