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PHOENIX-A Phoenix-area couple has spent $1.8 million for the 36-unit Parkway Apartments, located at 5407 W. Glenrosa Ave. in the city's western corridor. Ragland Revocable Trust is the seller in the Grubb & Ellis-structured transaction.
BELLEVUE, WA-Bellevue Community College's newest classroom is being billed as one of the most environmentally-friendly structures in the region. The $20-million, 68,000-sf structure features waterless urinals, a geothermal heating and cooling system and other green innovations expected to save money over the life of the building.
LONDON-Average yields on UK commercial property have moved out for the sixth consecutive quarter to stand at 7.3% according to CB Hillier Parker. Offices and Industrials in London and the South East have been hardest hit by the slump in investor confidence.
CHICAGO-Lincoln Village is looking every bit its 50 years, but a $25-million renovation will change that, as well as add another 20,000 sf of retail space. In addition, a 109 units of senior housing is included for the site.
CUPERTINO, CA-Despite the news, the R&D-focused real estate investment trust's share price is down along with most other companies in the first day of trading since the terrorist attack
BOSTON-Local hotel and convention center officials here fear that the recent terrorist attacks could have long-term implications for their industries. Hospitality industry's reliance on the faltering airline industry is another source of concern.
BEAVERTON, OR-Moss Adams LLP moves from 11,000 sf elsewhere in the park to 13,434 sf at 8905 SW Nimbus Avenue, Suite 400. Despite sour economic times, the well-located park's vacancy rate is said to be a measly 1.3%.
LONDON-Specialist industrial investor Brixton has created a new customer services company called B-Serv to provide services like cleaning and security to occupiers on the company's industrial estates.
AUSTIN-San Antonio's Leddy/Nueces-Hill Hospitality has acquired a building site in the midst of three class A buildings, totaling 360,000 sf, in the 28-acre Braker Pointe. An early 2002 groundbreaking is being eyed for a 230-room Hilton Suites.
BURLINGTON, MA-New Boston Fund, Inc. purchases Five Burlington Woods here from Lend Lease Real Estate Investments. The three-story, 106,000-sf building was sold for $18 million or $175 per sf, indicating that safe acquisitions in this area are still being sought after.