ST LOUIS, MO- American Financial Realty Trust agrees to acquire the 750,000-sf class A office building here from GE Pension Trust. Bank of America leases 466,731 sf in the building, which is 96% leased.
BERLIN-Under a management contract with Mediterranea Spa, a Sicilian public company, locally based Kempinski Hotels & Resorts will open the Kempinski Giardino di Costanza Grand Hotel & Spa in Mazara del Valla, on the island of Sicily.
SAN FRANCISCO-The locally based apartment REIT says that over the next year its president/CEO Frank McDowell will phase into retirement and Constance Moore, currently the company's executive vice president, will phase into the president/CEO role.
BEAVERTON, OR-The Cary, NC-based maker of customer relationship management software commits to the State Farm-owned business center here long term, signing a seven-year lease for 31,650 sf.
SACRAMENTO- Susan DeMars, an outside consultant for the California Mortgage Bankers Assoc. for the past three years, is appointed as the organization's executive director.
SAN FRANCISCO-The mixed-use residential property consists of the 27 units, 10,900 sf of ground floor retail and a 16,500-sf parking garage. The combined property was sold for an average $314,815 per door or upward of $245 per sf.
SYDNEY-The Cleveland-based mall REIT and the locally based investment bank close on the formation of Macquarie DDR Trust, which will list this week on the Australian Stock Exchange.
SEATTLE-Cure Water Damage, a water damage contracting chain, leases the 10,000-sf Messenger Sign Building here from Messenger Sign Corp., which plans to move out of the building in January and into a larger facility it acquired this summer in Georgetown.
MUMBAI, INDIA-Working with its international affiliate ATIS Real, the New York City-based tenant representation firm opens a new office here that is being led by Ashok Kumar, the former head of Insignia Brooke's India operations.
PORTLAND-Overall average vacancy hit 7.6% in the third quarter and is expected to reach 8% by the end of the year; by year-end 2004, despite rising employment, vacancy will average a record-high 8.2%, according to Marcus & Millichap.