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CHICAGO-Displaced by a new Kennedy-King city college at 63rd and Halsted streets, a group of 19 merchants is getting city help in relocating to a retail district that will be created two blocks north.
SAN ANTONIO-The San Antonio suburb of Schertz lures an investment group to buy two acres and a 15,000-sf retail building in a high-growth corridor. The buy is located in a block with office buildings and retailers, but no shopping centers.
LONDON-The office market in the West End of London had a poor year in 2001 with availability rising and prime rents falling, but new research from King Sturge shows that the situation would have been far worse had it not been for a surge in Government property activity, which accounted for 23% of all West End take-up.
RICHMOND, CA-The sale of Zeneca Inc.'s Western Research Park to Simeon Commercial Properties is expected to close in the next two months. Simeon plans to develop a 1-million-sf research and development park.
LONDON-Business parks specialist Arlington Securities has won outline planning consent to redevelop the former Sanderson wallpaper factory in Uxbridge, North-West London, with a 300,000-sf office campus.
SAN DIEGO-County officials have hired a local firm to oversee design work on the North Embarcadero redevelopment plan. They have earmarked $2 million for the task.
LONDON-Health club operator LA Fitness has agreed the sale and leaseback of four of its new clubs in the Midlands and North-West of England. And it plans more sale and leasebacks to finance its ambitious expansion programme.
BOLINGBROOK, IL-The I-55 Corridor distribution space deal at 333 Gibraltar, in a submarket that has seen vacancies rise to the 14% to 17% range, is worth more than $8 million.
FULLERTON, CA-Turner Development Corp. acquires the 31,500-sf call center, which is fully occupied by Federal Express. Built in 1969, the Fullerton facility underwent a massive renovation in 1995.
LA HONDA, CA-The Peninsula Open Space Trust has purchased a $21 million, 3,681-acre ranch, considered an excellent location for commercial and residential development.