WILMINGTON, DE-Exercising an 18-month-old option, the newly public REIT pays $51.7 million for a 263,000-sf class A office building here that is fully leased to financial institutions that will pay $4.5 million in rent in 2004. Last month, the company acquired more than 100 retail banking locations.
OAHU, HI-The Department of the Air Force selects Actus as the developer of rental housing at Hickam Air Force Base. The project involves $200 million in development over the first five years and is in addition to a much larger military housing privatization contract awarded to Actus earlier this year.
SYDNEY-A joint venture of the two companies is selected to partner with the New South Wales Government for the development of Rouse Hill Regional Centre, a planned community in Sydney's north-west corridor.
WILSONVILLE, OR-The Beaverton, OR-based company leases about one-third of a new 250,000-sf building developed by publicly traded AMB Property Corp. at a cost of $11.9 million.
OAKLAND, CA-Extra Space Storage of Salt Lake City acquires a 37,000-sf light industrial building here for $3.35 million and plans to convert it for use as a public storage facility.
SEATTLE-Washington Mutual Inc. says it will open three new multifamily lending offices by the end of 2003 in Boston, Miami and Washington, DC. Last fall, the bank opened an office in New York City that generated $450 million in applications in its first 120 days.
SAN FRANCISCO-Eugene Reilly, most recently a partner with Cabot Properties in Boston, will head up domestic development for the publicly traded industrial REIT.
LAS VEGAS-A California private investor acquires the 488-unit Sandpiper Apartments here from Rayman Associates Nevada LP. The property, built in 1987, is located about three miles west of The Strip.
MANCHESTER, NH-A multi-million dollar renovation is under way here on a multi-story 108,500-sf building that will be home to Allegro Systems, which recently signed a long-term lease agreement with an estimated value of $17 million. The company is relocating and expanding from 22,000 sf in nearby Concord, with plans to add up to 250 jobs.
SEATTLE-The locally based clothier signs a 10-year lease for 78,000 sf of a planned 85,000-sf office building in the South Lake Union area, giving its developers the commitment they need to finance construction.