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NASHVILLE, TN-Perrigo Corp., an Allegan, MI-based pharmaceutical manufacturer sold the 400 Sanford Road property in the Midsouth Logistic Center for $14 million or about $26.98 per sf. Stiles plans to add 250,000 sf and make the asset the largest speculative warehouse property in the Nashville market.
LONDON-Knight Frank's latest Central London research indicates that the London office market has proved more resilient in the face of economic uncertainty than might have been expected.
NEW YORK CITY-Mayor Michael Bloomberg and city labor leaders unveil a $750 million initiative for housing and commercial development throughout the city.
CASA GRANDE, AZ-Tempe's Gold Circuit adds computer reclamation to its sales business with the acquisition of a former Hunter Douglas distribution site. The $1.7-million price tag gets a 73,492 sf distribution building on 20 acres.
SEATTLE, WA-Avalon Belltown, is an $18.7-million mid-rise property containing 100 apartment homes. It is located two blocks from the Seattle waterfront and six blocks from Pike Place Market. Monthly average rents per home are approximately $1,660.
NEW YORK CITY-Widely published reports stating that Larry Silverstein will begin construction on a new office tower at the Seven World Trade Center site are unfounded, according to a spokesman for the developer.
SAN FRANCISCO-Information management company AppraiserLoop, which incorporates the Appraisal Institute Commercial Database, has launched a new division for commercial property appraisers.
HAGERSTOWN, MD-Baltimore's Prime Retail, Inc sells its 70% interest in Prime Outlets at Hagerstown for $23.5 million. The company will take a little over $12 million of the proceeds to pay down the remaining debt on a $90 million mezzanine loan.
DENVER-Forced out of its Terracentre building on Speer Boulevard when the city condemned it for its Colorado Convention Center expansion, the bank will eventually have 42,000 sf at the Legacy Tower building at 17th and California streets.
SAN FRANCISCO-Curt Davis is launching the Davies Group, which will initially look to take advantage of the current distressed environment and will be concentrating initially on foreclosure opportunities.