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WASHINGTON, DC-Permanent financing for the acquisition of 2025 M St. NW has been placed, enabling 1919 Pennsylvania Associates, a joint venture, to make the purchase. Carr Capital Corp. placed the loan.
PHOENIX-Simula Safety Systems has inked a 16-year lease for 188,000 sf of industrial space. Cohen Arizona One owns the facility, situated at 7822 S. 46th St. The property is in the steadily growing Baseline Corridor.
MINNEAPOLIS-The deal helps the Minneapolis-based financial service company enter fast-growing markets in southern California. Bank officials expect it will close by the end of the third quarter of 2001.
RICHARDSON, TX-Millennium Sales and a startup business, Telco Gray, have signed leases for 10,442 in Richardson's Telecom Corridor. One heads to the 59,847-sf University Center and the other to the 54,765-sf Exchange Drive complex.
MIDDLETOWN, NJ-One of the proposed changes would reduce commercial space by half, but the community's governing body puts off formal changes for another two weeks. Locally-based Mountain Hill Group wants to develop 1.7 million-sf.
MILPITAS-Three industrial leases totaling about 14,400 sf and valued at nearly $2.2 million hit Main Street in this South Bay bedroom community. Industrial remains a stronger segment of the market in some outlying areas despite the softening office markets throughout the Bay Area.
LONDON-Serviced office operator Regus has confirmed that it is in takeover talks with Frontline Capital Group, parent company of its larger rival HQ Global Holdings
BOCA RATON-H. Wayne Huizenga, Boca Resorts' chairman and owner of the Miami Dolphins football club is joining the buyout group as a minority partner, along with retired gridiron star Bernie Kosar.
NEW YORK CITY-The Dow is up by 2% for the year, the S&P 500 is off by more than 5% and the Nasdaq has dropped by over 14%. The Morgan Stanley Real Estate Index, however, is up 4.3% for the year, down just 2.13 points from its all-time high last week.