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WOODLAND HILLS, CA-Privately held Grosvenor acquires 252,973-sf Warner Corporate Center office complex from a Nomura partnership. EOP and Douglas Emmett eye neighboring portfolio despite its estimated $450-million price tag.
ORLANDO-The locally based themed restaurant chain hopes to save $500,000 per year on telecommunications expenses by linking its 28 retail outlets to a single network operated by the Reston, VA-based broadband communications provider.
PARAMUS, NJ-The union will move part of its administrative operations into the multi-tenant building which is located next to its current headquarters facility. Lincoln Property Co. and ING sold the asset.
ARLINGTON, TX-Monument Leasing Corp., headquartered in Jacksonville, FL has taken the title to a 40,000-sf warehouse in South Arlington. The property, which was on the market for a year, has carried about a $1-million closing price.
FULLERTON, CA-The sublessee, Foxconn, will now occupy the entire 406,000-sf industrial property here. The sublessor, Concord Disc Manufacturing, has relocated to another facility.
CHESTERFIELD TOWNSHIP, MI-Japanese-based manufacturing supplier Huron Precision Parts Corp. is constructing a 180,000-sf building at Gratiot Avenue and 25 Mile Road. The project is expected to be completed in April 2002.
BRIGHTON, MI-A Livingston County jury awards $420,000 against a land developer over a 376-acre golf course and residential development that failed to materialize as either party had planned.
HOUSTON-The latest multifamily assessment from Marcus & Millichap is that Houston's market will grow considerably stronger by year's end. The research team predicts a 6% hike in rent and 14,000-unit absorption.
HARRISON, NJ-But this community is still expected to get almost 3.4 million sf of office space, 600,000 sf of retail space and nearly 3,000 homes by 2010.
WEST PALM BEACH, FL-The county grants a conditional-use permit to add 159,000 sf of new class A office space in the East Central Regional Government Center in this Palm Beach County city, 67 miles north of Miami.