Globest Sectors

BASTROP, TX-The Dallas-based Woodbine Development team is keeping to the schedule as work proceeds on pre-development design, a marketing study and permitting for the 635-acre project.

WOODLAND HILLS, CA-The Irvine, Calif.-based brokerage picks up four Told Partners brokers to open an office that will specialize in office property investment deals.

COEUR D'ALENE, ID-Price Legacy Corp., a San Diego-based company, says it has reached an agreement to buy 25 acres in the Riverstone development for $6 million. The real estate investment trust plans to construct a 225,000-sf mixed-use facility, including a movie theater.

TEMPE, AZ-A California investment company will be courting medical users for its 17,500-sf acquisition at 404 W. Broadway Rd. The location near Tempe St. Luke's Hospital should translate into 100% occupancy, says the broker.

SCHAUMBURG, IL-Nearly 50,000 sf of space is claimed in new lease deals, but they involve companies staying put or moving from one northwest suburb to another, keeping submarket vacancy well above 20%.

LOS ANGELES, CA-The market has maintained stable vacancy rates despite the weaker economy, but rent growth slowed in the second quarter and demand was lackluster, according to a quarterly study by Hendricks & Partners.

FOOTHILL RANCH, CA-The Newport Beach investment firm buys the 208,620-sf, recently completed Foothill Plaza office center from an affiliate of Searles DevCorp., also of Newport Beach, with plans to finance its lease-up for a future sale.

VAN NUYS, CA-The buyer is doubling the size of his business from current operations in Burbank, Calif. The building is in a new business park crafted from a former aerospace facility.