SYDNEY-ComLand Ltd., sold by the Commonwealth Government, owns two major master-planned development sites. Lend Lease has been ComLand's joint venture partner and development manager for both of these projects, through Delfin Lend Lease.
HAYWARD, CA-A partnership controlled by Felson Companies of Hayward acquires a 391,000-sf warehouse situated on 25 acres that in three years will be redeveloped into residential as part of the city's master plan.
SEATTLE-Seattle Lighting Fixture Company acquires a 115,000-sf warehouse near the West Seattle Freeway from a partnership composed of a Lehman Brothers subsidiary and Argent Ventures, which acquired the building in 2000 in order to convert it for use as a telecom hotel.
MAUI-Sunterra Corp. of Las Vegas agrees to acquire the partnership interests it does not already own in West Maui Resort Partners LP, which owns and operates the 413-unit Embassy Vacation Resort Ka'anapali here.
SAN FRANCISCO-With job growth of at least 1% expected in San Francisco, Oakland and San Jose, it appears retail owners have survived the downturn and can expect decreasing vacancy, rising rents and continued interest from investors.
TIGARD, OR-RealNet Investments of Portland pays Coe Manufacturing slightly more than $5 million for a 155,301-sf industrial building that the seller has leased back for 10 years. RealNet is in the process of flipping the property to a tenant-in-common partnership.
SEATTLE-An early meeting last week with the design review board has the project architect for the proposed $50-million project redesigning the corner of 7th and Union, among other things.
SYDNEY-Concerned the would-be $11-billion marriage with General Property Trust is misunderstood in the marketplace, the company further explains the proposed transaction, which would be a stapling of Lend Lease Shares and GPT Units, not an exchange.
HENDERSON, NV-Led by Focus Property Group of Las Vegas, the consortium submits the winning bid for land here located southwest of Anthem Parkway and east of I-15 that was auctioned by the Bureau of Land Management.