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TURLOCK, CA-Dave Davis, chief financial officer for the publicly traded document management company, describes the sale of the 100,000-sf facility and an adjacent, vacant parcel as simply "the conversion of an underutilized asset to cash.
SAN FRANCISCO-Greenwich Capital Markets has hired executives from Merrill Lynch and Donaldson Lufkin Jenrette to bolster its San Francisco operations. "Our clients will continue to have seasoned professionals offering the most innovative solutions," says Greenwich managing director Ryan Mullaney.
NEW YORK CITY-During the last six years he has been involved in asset sales of more than $11 billion and over the past 10 years he has closed on the disposition of more than 55 million sf of space.
KANSAS CITY-Gerard's Bakery will continue operations from a site in Longmont, CO after being partially sold to Farmland and Mountain View Harvest Cooperative.
ATLANTA-The national logistics firm is taking 228,300 sf or 45% of the 506,700-sf Liberty III bulk distribution facility in south metro's Henry County.
BURNSVILLE, MN-Minneapolis Clinic of Neurology has signed 11,000 sf lease in a 52,000-sf office building being built here by Kellison Co. An attraction is the building's proximity to Fairview Ridges Hospital.
DENVER-The US Postal Service is looking for a taker for its 406,309-sf annex that's strategically positioned in the highly coveted LoDo submarket. It's definitely the most important building to hit that submarket's for sale list, say the brokers.
WOBURN, MA-Verizon Wireless will close its customer service call center here as part of a nationwide expansion plan. A total of 350 jobs are affected by the move.
HYDE PARK, NY-Heritage Pointe Apartments, an 82-unit affordable senior community here, is already 95% rented just three months after opening its leasing office in November. Wilder Balter Partners Inc. developed the property.
ORLANDO-The locally based company paid $15.79 million ($93,988 per room) to Courtyard Management Corp. for the 168-room Courtyard by Marriott in Overland Park, KS and $8.82 million ($73,517 per suite) to SpringHill SMC Corp. for the 120-suite SpringHill Suites by Marriott in Raleigh, NC. CNL is leasing back the properties to the sellers.