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GARDEN GROVE, CA-An LLC acquires the 40,480-sf industrial facility, which is occupied by Time Warner Communications Television and Services. The Garden Grove industrial sector experienced a negative net absorption of 172,863 sf in the first nine months of 2001, according to research by Cushman & Wakefield.
HOUSTON-A Texas legend, the old Texas Bolt Co. 270,000-sf bix box manufacturing facility, has been sold to a new user in Standing Stone Development, which plans some redevelopment. Asking price was $1.795 million.
DETROIT-Along with $55 million in spending cuts, Mayor Dennis W. Archer wants the sale of 869 acres of former prison property in Northville and Plymouth to help balance the city's budget before he leaves office Dec. 31.
SEATTLE-Sunrise Mortgage and Investment Co. will represent HomeStreet Capital's multifamily financing through the Fannie Mae Delegated and Underwriting Servicing multifamily product line in southern and central California and Arizona.
TARRYTOWN-In the largest lease transaction in Westchester County since the terrorist attacks of Sept. 11th, Quaker Foods & Beverages has signed a long-term lease for 23,495 sf at 660 White Plains Road here.
TUSTIN, CA-Private investor John R. Saunders snaps up a three-building, 138,591-sf property. that is 94% leased. The seller was Hartford, CT-based UBS Realty Advisors.
EDINBURGH-The Scottish Executive plans to unseat absentee landlords by putting through laws that will allow tenants to buy the land they rent. Property bodies are warning that the plans could jeopardise the open market.
BLOOMINGTON, MN-The networks consultant is promising to "aggressively expand" its presence in the market but starts out small, signing a one-year lease for 250 sf on the 11th floor of the Regus Business Center.
BLACK HAWK, CO-While third-quarter revenues increase to $26 million, Black Hawk Gaming & Development's profits rise only $50,000 to $1.55 million, keeping earnings per share even. Black Hawk's boss continues his acquisition plans.