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EAST PALO ALTO, CA-The Ikea proposal may face further hurdles, as community members and groups pressure city officials to develop a supermarket, which the city lacks, rather than a furniture outlet, which poses noise and traffic problems.
BOSTON-The sale of the Boston Red Sox to a group of investors led by John Henry and Tom Werner is officially approved by Major League Baseball. The new owners have stated that they want to renovate Fenway Park rather than build a new ballpark for the team.
ANTHEM, AZ-Developer Doug Dragoo sets his sights on Anthem for his fourth office condo project. Ground breaks in seven months on a $1.4-million, five-acre buy that takes the two-year-old community above $7.2 million in commercial land sales in a year.
SANTA ANA, CA-The multifamily deals continue to roll in, as a joint venture snatches up the 196-unit apartment complex in Santa Ana. The property, Park Place, was 95% occupied at the time of sale.
SAN FRANCISCO-Of the 3,500 responses received by the Presidio Trust in response to its proposal of several different development plans for the Presidio National Park, the majority urged the trust to minimize development.
HOUSTON-A representative for 26 hotel and resort properties in Mexico holds onto its 5,351-sf office at North Belt Place, a suburban office building that's carrying a 73% occupancy. Houston Site Acquisition and PM Realty broker the deal.
COSTA MESA, CA-Back Bay Center LTD snaps up the mixed-use property, which was 98% occupied at the time of sale. The complex encompasses 35,300 sf of retail and 17,700 sf of office space.
HOUSTON-Navigation Palmer Partnership acquires a 9,920-sf industrial building on the outskirts of the Downtown while an industrial lease brings a signing for 3,288 sf in Houston's northwest submarket.
SAN ANTONIO-CORFAC lines up its 2002 team, electing Dan Gostylo, principal at San Antonio-based Providence Commercial Real Estate as president. Other officers hail from Virginia, California and Arizona.