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OAKLAND, CA-A building with a copyrighted exterior design has been put up for sale on the Oakland commercial real estate market. Oakland's "Hinged House" and its adjacent property are on the market for $4.5 million.
NEW YORK CITY-The firm sheds its single-family home brokerage business to a pair of Ohio firms. The deal includes a performance-based earn-out of up to $3 million to be paid over the next two years.
ORANGE COUNTY, CA-Two office deals have closed in Orange County, the latest in a string of relatively small "bread-and-butter" transactions that have kept local brokers busy in recent months. The transactions include a 7,257-sf office lease in Costa Mesa and a 4,737-sf office lease in Irvine.
NEW YORK CITY-First announced in mid-December, the bi-state agency plan to restore Downtown PATH service is proceeding at an accelerated pace with work scheduled to begin in three weeks.
ANNAPOLIS, MD-The Vitamin Shoppe continues its expansion with the opening of a 3,000-sf store in the Festival at Riva Shopping Center. The company has signed a five-year lease for the space.
BOSTON-Jim Thomson, formerly of Grubb & Ellis, switches to Cushman & Wakefield, bringing his team. The move is the latest in a series of local real estate defections.
ATLANTA-The locally based REIT unloaded two commercial assets in Texas and a residential property in Tampa. The company said it will use the money to pay down debt.
TORRANCE, CA-Transpacific Development Co. has purchased a 431,000-sf distribution facility on behalf of Town Center East, a TDC affiliate. The property, located at 18260 Harlan Road in Lathrop, California, was developed by Higgins Development Partners. The purchase price was $22.5 million.
AUSTIN-Tenants seize the opportunity to live in newer complexes as rents drop to fill properties. Overall, rents dipped 4.7% last year in a market that delivered 9,438 units and now has another 10,700 under construction.
HOUSTON-The non-profit Hispanic Housing and Education Corp. takes a second mortgage on its 534-unit Las Americas, an innovative model for affordable housing. The 30-year loan bears an 8.63% interest rate with a 29-year amortization.