MEXICO CITY-The San Francisco-based developer of distribution facilities has acquired 162 acres in the Cuautitlan submarket here for development of a 2.9-million-sf industrial park in partnership with local partner G.Accion.
PRAGUE-Rodamco Europe and AM Group (formerly Amstelland MDC) sign a contract to develop a 613,000-sf shopping center here. About 40% of the center has been pre-leased.
SAN FRANCISCO-The venture will utilize approximately 60%-65% leverage. It will initially target Bay Area life science property investments. Management believes investors can expect leveraged returns of 16%-18%.
RENTON, WA-The first phase will include eight buildings totaling 353,000 sf that will be available for lease or for sale, in whole or in part. Completion is expected in September. Five of the buildings will have 24-foot clearances appropriate for manufacturing and warehousing.
FT WAYNE, IN-The manufacturer of work and hunting clothes signs a $1.8-million lease for space in a 474,000-sf former single-tenant facility here with visibility from Interstate 469.
PORTLAND-In partnership with a community investment bank, the city's urban renewal agency will invest proceeds from the sale of $100 million in federal tax credits in redeveloping several properties located along Martin Luther King Boulevard in Northeast Portland.
BERKELEY, CA-The Pioneer, constructed in 2002, is a 60-unit, five-story structure with ground-floor retail space that is located adjacent to the University of California Berkeley.
KAHULUI, HI-The publicly traded owner of some 29,000 acres on Maui signs an agreement to buy back Kapalua Bay Hotel, one of three luxury hotels located on its Kapalua Resort property.
KIRKLAND, WA-Relocating from West Seattle, Electronic Evidence Discovery Inc. signs on for half of a vacant building at the 274,000-sf office development here that is owned by HAL Real Estate Investments.
PORTLAND-Sage Hospitality Resources, a Denver firm that specializes in the restoration and conversion of historic properties is awarded what will amount to about $20 million by the federal government in support of its plans to convert the upper 10 floors of the 16-story, 650,000-sf historic department store building into a high-end hotel, while Meier & Frank compresses itself into the five lower floors.
