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PAXTON, MA-As part of the governor's campaign to protect 200,000 acres of open space from development by the year 2010, the state has purchased 530 acres of watershed land here and in Holden for $5.2 million.
NEW YORK CITY-The finance firm says it has closed on the largest real estate mezzanine fund ever raised. Total equity of the just-closed fund is more than $845 million.
ATLANTA-The 70-acre property with three buildings totaling 346,000 sf of R&D and manufacturing space in suburban Duluth, GA is selling for $23 million or $328,571 per acre ($7.54 per sf), down from the original asking price of $29 million or $414,286 per acre ($9.51 per sf). CB Richard Ellis Inc. has the new listing.
LONDON-Westminster City Council has given Land Securities planning permission for the 580,000-sf second phase of its Stag Place scheme close to Victoria Station.
SAN MARCOS-A Jacksonville, FL-REIT is nearly ready to break the seal on a 148,259-sf shopping center at the southwest corner of Discovery Street and Twin Oaks Valley Road.
DALLAS-In a survey of 2.8 million apartment units, M/PF Research in Dallas says the impact of a slowing economy has started to invade the multifamily sector. Rent growth has slowed as a tact to keep occupancy high. The nation's average is pegged at 96.1%.
OLYMPIA, WA-The public will have the opportunity to provide input later this month on a proposal to develop a hotel and conference center on Port of Olympia property along Budd Inlet.
AUSTIN-Construction cranes will move off CarrAmerica's CBD work site by the end of the month, marking one year of work. The 442,000-sf, class A high-rise is on track for its first tenant move-in by year's end.
DENVER-Trammell Crow Residential, in a partnership with Cleveland-based Key Commercial Real Estate, is developing a 356-unit, luxury apartment complex at the edge of Castle Pines Village in Douglas County.