TUALATIN, OR-After giving notice that it would vacate the 24,000-sf building it leases in the 325,000-sf flex-office development here, the maker of integrated circuits and software for computer monitors and televisions decides to stay for at least another 26 months.
BELLEVUE, WA-Principal Real Estate Investors of Iowa pays about $136.5 million for the 480,000-sf class A office development here that was developed and sold by Hines, which has been retained as property manager. The three-building complex is 95% leased.
AMSTERDAM-The publicly traded industrial REIT from San Francisco hires away the senior asset manager for a $390-million logistics facilities investment fund to head up leasing, asset and property management for its portfolio of cargo and logistics facilities throughout Europe.
SYDNEY-The parent company of Surry Hills, Australia-based Medina Serviced Apartments and Vibe Hotels pays AUS$30 million ($20.7 million) for the 192-unit hotel here and plans a AUS$4-million ($2.8-million) makeover that will turn it into a four-star hotel.
KENT, WA-Tarragon Development closes on 10.5 acres of the former Borden Chemical plant here and simultaneously breaks ground for the $39-million first phase of the $100-million redevelopment.
SAN FRANCISCO-The Jenkintown, PA-based REIT acquires the 373,500-sf class A office building for $135.7 million. The seller, Charles Schwab & Co., has leased back 100% of the building for 20 years at an annual rental rate of $10.8 million, or about $28.90 per sf.
WHISTLER, BC-Toronto-based Four Season Hotels and Resorts begins operating its first mountain resort in Canada here at the site of the 2010 Olympic Winter Games. Vancouver, BC-based Intrawest Corp. owns the property and the ski resort.
LYNNWOOD, WA-Berlex, the US affiliate of publicly traded Schering AG Germany agrees to purchase 16 acres here from Opus Northwest LLC for development of a multi-building campus that eventually would allow them to vacate to leased properties in Bothell and Seattle.
BRISBANE, AUSTRALIA-The Los Angeles-based publicly traded real estate owner and operator lands a Coles Myer grocery store and an ALH pub with gambling facilities as the anchors of a $28-million shopping center development here that is scheduled to open in September 2005.
SAN FRANCISCO-Currently spread out in three buildings, the bank is consolidating its local operations onto the 25,097-sf third floor of Two Embarcadero Center and will open a retail location at One Embarcadero in a 4,335-sf space currently occupied by Pottery Barn.
