CRANBERRY TOWNSHIP, PA-An Oak Brook, IL-based retail REIT buys the Cranberry Square Shopping Center, an approximately 200,000-sf, open-air shopping center.
RICHMOND, VA-Property & Portfolio Research Inc., a Boston-based provider of independent real estate research will add its name and forecasting abilities to the Giliberto/Levy Commercial Mortgage Performance Index.
PORTLAND-A combination of TIC's, Trusts and LLC's pays $4.2 million for the 93,000-sf, five-story brick building located on Southeast 3rd Street, next to the east end of the Burnside Bridge. The seller picked it up 10 years ago for $460,000.
ISSAQUAH, WA-The 55,223-sf building here that the Seattle-based nonprofit leased long-term for conversion into the state's first stand-alone emergency room is owned by the state-owned Common School Trust, which funds construction for K-12 public schools. The previous anchor tenant, Amgen, was planning to vacate the building next year, the state's leasing manager tells GlobeSt.com.
RIO DE JANEIRO-The Brazilian national oil company leases 100% of the office space in Torre Almirante (Admiral Tower), a new 36-story 678,000-sf Downtown development here that was funded by the Emerging Markets Real Estate Fund II, a partnership of Hines and Trust Co. of the West.
SAN FRANCISCO-John Moe, most recently a senior vice president with DivcoWest Group in Palo Alto, CA, is now responsible for the leasing and marketing of CarrAmerica's 5.8-million-sf San Francisco Bay Area office and R&D portfolio.
MUNICH-The Dallas-based buyer of troubled loans acquires a $4.4-billion portfolio from the real estate financier for an undisclosed price. The portfolio includes non-performing loans, sub-performing loans and performing loans that have been placed on a watch list.
AUSTIN, TX-Atlanta-based Cousins Properties and California-based CommonWealth Partners sell Buildings III and IV at Austin Research Park to a private equity fund for $78.7 million. The buildings total 358,000-sf and are 100% leased through 2010.
LAS VEGAS-Planned for land adjacent to the Palms Casino Resort, One Las Vegas would be a 50-story condominium tower with 542 luxury units ranging in price from $500,000 to more than $10 million. Between now and next summer's scheduled groundbreaking for the tower, the Florida-based multifamily developer also will be working on Vegas Grand, a mid-priced, 880-unit development located a short ways from the Strip.
OVERLAND PARK, KS-About two dozen investors have joined forces to acquire Village at Lions Gate, a lakefront apartment community here that eventually will be converted into condominiums.