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FLORHAM PARK, NJ-The privately held Gale & Wentworth, now known as The Gale Co., is launching its fourth investment fund with Morgan Stanley in the last decade.
HOUSTON-Vanco Energy, headquartered in Houston, is boxing up its office and heading to the 510,288-sf 3 Greenway Plaza from One Greenway Plaza. Colliers International brokers the five-year deal for the 90%-occupied office tower.
JACKSONVILLE, FL-Wachovia Securities of Atlanta handled the private placement of a series of senior notes maturing from three to 10 years. The money will be used to reduce other debt and for general corporate purposes.
EAST PALO ALTO, CA-The City Council may vote in coming weeks on a proposal to scale back height and design standards that were set last year, throwing into question a significant retail-commercial project planned for one of East Palo Alto's biggest intersections.
BOSTON-In a move that will consolidate all of its activities at one site, WGBH, the city's local public broadcaster, is acquiring Brighton Landing here, a 300,000-sf seven-story building. The station is vacating some land of its own as well as land leased from Harvard University.
DETROIT-Organizations behind 111 pre-proposals are now invited to submit full proposals by March 28. They include three groups seeking $7.2 million to build new research facilities.
WASHINGTON, DC-The 415,000, Class A office building project gets a loan from three banks--one Boston-based and the others located in Europe. The loan comes with an extra incentive. If developer Tishman Speyer can get the building nearly fully leased before its 2003 due date, the credit will expand to as much as $103.5 million
AUSTIN-The city's industrial market is in a tailspin as it registers 361,172 sf in the red. Vacancy overall is 20%, thanks to the delivery of another 1.8 million sf and citywide exits totaling 890,748 sf. Building thankfully has slowed.
ORLANDO-BankAtlantic of Fort Lauderdale, FL is providing the funds for Whisper Palm Apartments, a 308-unit, 22.4-acre project on the fast-developing west side of Alafaya Trail in east Orange County.