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EDISON, NJ-A 105,000-sf property is moved out of the Archon Group's portfolio. Most of the property is occupied by consulting, association and technology-related firms. C&W represented the seller in the deal.
MINNEAPOLIS-Three schools are eyeing the old Fort Snelling buildings as a campus. Now owned by the state's Department of Natural Resources, the fort has 28 buildings totaling 500,000 sf on a 141-acre site overlooking the Mississippi River.
NEW YORK CITY-The REIT is moving to sell its non-core retail assets, commercial properties and garden apartment communities so it can concentrate on neighborhood and community shopping centers.
OVERLAND PARK, KN-The Corporate Woods business park here is getting a new Web site listing its available space, building designs, floor plans, concierge services and other information.
NEWARK, CA-Danville-based Trumark Commercial will purchase 23.5 acres in the 90-acre Stevenson Point Tech Park here for development of a six-building office/R&D project. Current park tenants include Nortel Networks and Vina Technologies.
ATLANTA-Forsyth County and the Trust for Public Land bought Sawnee Mountain and the 295 acres on which it stands from various landowners for $6 million or $20,339 per acre. The purchase was made to preserve the mountain in the face of rapid development in one of the fastest growing counties in the nation. The mountain is 35 miles north of Downtown.
SEATTLE, WA-In December 1996, RREEF purchased the 20-story office building for $34.6 million. Four years and a renovation later, the pension advisor has sold the tower for just about double what it paid.
DENVER-Sears & Roebuck has big plans for an aging store, but the proposal is upsetting other Cherry Creek property owners. The retailer is looking to pump $100 million into a mixed-use development, with a hotel soaring 130 feet and a 120-foot high office tower.