HONG KONG-Lend Lease agrees to sell the advisory company that created its $1.6-billion, fully invested closed-end global property fund to the management team that created it. The team left the company and created their own firm after Lend Lease decided it didn't want to start new funds, as the new firm will be doing.
SAN FRANCISCO-The new owner of Canada Life Assurance Co. unloads 90 New Montgomery St., a 125,000-sf, 1980s office building that was included in the acquisition of the company.
TULALIP, WA-New Jersey-based Chelsea Property Group signs a 75-year lease for development of a 500,000-sf outlet mall at the tribe's 495-acre business park, Quil Ceda Village, where a 227,000-sf casino opened this past summer.
OREGON CITY, OR-Clackamas County Commissioners approve plans to build a shopping center on a 25-acre parcel along State Route 212 that is zoned industrial and covered in wetlands.
MONTREAL, QUEBEC-Eight months after it hits the market, Toronto-based Northam Realty Advisors buys the 970,000-sf Cite Multimedia complex here for USD $110.8 million, making it Montreal's largest transaction over the past 12 months.
SAN JUAN, PUERTO RICO-An investment group that includes an affiliate of Tishman Realty Corp. acquires the Old San Juan Hotel & Casino with plans to spend $7 million upgrading the six-year-old property, after which it will change from a Wyndham-branded hotel to a Sheraton.
LAFAYETTE, CA-Centillium Corp. takes a 104,400-sf building in Fremont, CA, American Express renews a 75,000 sf lease in Phoenix and Quantum Design leases a 50,000 sf building in San Diego.
SANTA CLARA, CA-Archstone-Smith Trust sells Los Padres Village, a garden-style community consisting of 11 two- and three-story buildings. The buyer is Pacifica Cos. of San Diego.
BELLEVUE, WA-Wolfgang Puck Worldwide sells the Cucina! Cucina! trademark and eight of the 12-restaurant chain's nine stores in Oregon and Washington to a British Columbia-based investment group that plans to give the chain a new look and a new menu, starting with the Lake Union property.
ROGERS, AR-General Growth Properties Inc. and the Pinnacle Group are jointly planning to develop an outdoor lifestyle center here that will be anchored by a Dillard's department store. Macerich owns a similarly-sized mall 14 miles away that also has a Dillard's.