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BOSTON-In response to Tuesday's terror attacks in New York and Washington DC, area buildings have tightened security measures. There is speculation that commercial property insurance rates will be raised to offset these costs.
AUSTIN, MN-Hormel's museum dedicated to "a slice of Americana that deserves recognition" replaces a much smaller history center in OakPark Mall that has drawn about 60,000 visitors a year.
PORT ORCHARD, WA-Kitsap County officials have opened bids for the nearly $8.5 million jail expansion project. The larger building is expected to house 300 more inmates than the county's existing facility.
ORLANDO-The Houston REIT purchased the 41-year-old, 102,000-sf, fully leased Winter Park Commons Shopping Center in suburban Winter Park, FL for an undisclosed price. Area brokers tell GlobeSt.com the estimated price is $13 million or about $125 per sf, based on previous comparable sales.
PHOENIX-A private investor from Phoenix has paid $440,000 for the Halstead Lumber Yard, consisting of a 5,525-sf vacant building situated on nearly 4.4 acres. The game plan is to raze and rebuild with a 66,000-sf multi-tenant industrial project.
NEW YORK CITY-In a prepared statement, the new holder of the 99-year master lease on the World Trade Center makes his sentiments known. "Anyone who believes in freedom and democracy became a New Yorker," he says.
BOCA RATON, FL-LenDan Inc. of Palm Beach, FL pays Centrecorp Inc. $21 million for the 122,910-sf, 15-year-old Harbour Financial Center on PGA Boulevard here, about 70 miles north of Downtown Miami.
BELLWOOD, IL-A 52,213-sf building at 1023 Cernan Dr. 100%-leased by Chicago Locker Co. here is sold while first-run movie distributor E.T.S. Direct leases 10,000 sf at Armitage Place in neighboring Melrose Park.
LOMPOC, CA-Strasbaugh Development pays Gowing Leasing Co. $4.8 million for the three-building industrial complex at 1641 W. Central Ave. The project is fully occupied.