MENLO PARK, CA-The small REIT formerly known as West Coast Realty Investors sells two vacant light industrial properties in August and may well to be holding two more, as two of its properties are currently occupied by businesses involved in bankruptcies.
BRAMPTON, ON-RioCan Real Estate Investment Trust's new partnership with the Ontario Municipal Employees Retirement System and the Teachers Insurance and Annuity Association College Retirement Equities Fund acquires Brampton Super Centre for $26.8 million.
SEATTLE-The first of three buildings that comprise a 162-unit residential-over-retail project at 23rd Avenue South and S. Jackson Street--the largest mixed-use development in the Central Area in the last 30 years--will be ready for occupancy by November, with the remainder coming online in January 2004.
KUALA LUMPUR-The 450-room Westin Kuala Lumpur is owned by Ireka Corporation Berhad, one of Malaysia's largest construction and development companies. It is the first higher-end hotel to open in Kuala Lumpur in the last six years.
TUALATIN, OR-Four appeals to the 680,000-sf Bridgeport Village development are dealt with by the City of Tualatin as Opus Northwest prepares to begin grading work at the 29-acre site next to Interstate 5 in Tualatin.
GREENVILLE, SC-A special purpose entity of Lexington Corporate Properties Trust obtains $14 million in acquisition financing from Bank of America to acquire a three-story, 192,884-sf, class A office building and call center in Greenville that is the regional headquarters for Verizon Wireless.
HILLSBORO, OR-The outdoor retailer signs a 10-year lease for 26,000 sf in the 368,000-sf lifestyle center that is set to break ground next week in east Hillsboro and open this time next year. The developer is Continental Real Estate of Columbus, OH.
AUSTIN, TX-A trio of real estate veterans form Royston Royalty Limited with plans to develop between 20 and 30 small- to medium-sized industrial buildings with fenced yards in and around the local suburb of Pflugerville, TX.
SAN FRANCISCO-In 1999, Marlton Manor in the city's Tenderloin neighborhood was at risk of being sold and converted to market rate apartments. Its residents organized themselves into the Marlton Manor Tenants Council with the assistance of Agape Outreach Center, and then partnered with Mercy Housing California and A. F. Evans in the acquisition, renovation and preservation of the property as affordable housing.
SEATTLE-Michael Belka, most recently a regional property manager with the Seattle office of Tower Realty Management Corp., will lead the management and leasing team for Unico, which owns and operates 6 million sf of office space.