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LOS ANGELES-A $17.5-million sale in Long Beach portends another banner year for the region's multifamily segment, where vacancies are already at record lows in some counties and rents are rising at double-digit rates.
ORLANDO-Paladyne Corp. of suburban Lake Mary, FL is paying $5 million in cash and transferring 4.1 million shares of preferred stock to E-Commerce Support Centers Inc. of Jacksonville, NC. The companies are entering the customer-relationship management business.
CHICAGO-French jeweler Van Cleef & Arpels will open a store on at 636 N. Michigan Ave., becoming next-door neighbors of Cartier. Both firms are owned by the Richemont Group. Cartier just renewed its lease for 16 years.
SECAUCUS, NJ-The NY-based publisher and distributor of children's books, including the highly successful Harry Potter series, will use the space as its new information services center. Grubb & Ellis brokers arranged the deal.
AUSTIN-A 19-year-old San Diego-based company has bought a Tivoli product suite and related assets. The buyout will not affect Tivoli's Austin operation or Peregrine Systems' Indianapolis office, which is being leased from Tivoli.
ORLANDO-Walt Disney World doesn't want any train dropping off potential tourists at arch rival Universal Orlando's doorstep. Disney suggests it may build its own fast train if the state rejects its more expensive two-line plan.
BATTLE CREEK, MI-Rosier, a metal fabricating firm, plans to build a $1.5-million facility on a 10-acre site in the Fort Custer Industrial Park here. Construction hinges in part on state grants.
EDEN PRAIRIE, MN-The Lincoln Parc project will include 186 apartment units as well as retail, office and parking space on a site bought from this Minneapolis suburb. Occupancy is expected this fall.
CHARLOTTE-Locally-based Spectrum Properties says it is no longer interested in buying and developing a 3.3-acre city-owned tract after learning the city continues to talk with other developers on the deal. The city initially selected and then rejected Pennsylvania-based LCOR as the project's developer of record.
ORLANDO-The country's largest employee-owned supermarket chain with annual sales of $13 billion is settling a court-filed action alleging 15,000 black workers were treated unfairly in hiring, firing and promotions over a seven-year period. Publix concedes the company violated its own rules but denies the allegations were based on race.