AUSTIN, TX-At a 30% discount from its sale price 14 months ago, Drever Opportunity Fund LP acquires The Village at Gracy Farms, a luxury apartment community in Northwest Austin.
CHARLOTTE, NC-The buyer, Harbor Group International of Norfolk, VA, plans on spending an additional $864,000 to upgrade the 18- building, garden-style development built in the early 1980s.
PORTLAND-A city spokesman tells GlobeSt.com that the site is being used as staging for the $300-million so-called Westside Big Pipe project until 2007 and that no plans for its use after that has been contemplated by the city. Neighboring property is slated for residential development.
MUKILTEO, WA-Travis Industries Inc. signs a 12-year lease for a manufacturing building at Harbour Pointe in Mukilteo. The lease provides more than enough room for the company to consolidate five separate facilities in the Seattle-area cities.
SACRAMENTO-An abundance of speculative development will push vacancies higher this year, according to a new Marcus & Millichap report; however, investment activity remains strong and sales prices are forecast to increase by year-end 2003.
TULSA, OK-In a deal valued at $9.3 million, Tulsa-based Helmerich and Payne Inc. is relocating its headquarters from a building it owns to three floors in the 520,000-sf office tower owned by KBS Realty Advisors.
PORTLAND-In addition to several smaller leases in the new 10-story building, PPM Energy Leases 37,000 sf and the Art Institute adds 10,000 sf to its 72,000-sf lease, leaving only the fourth and fifth floors available.
SAN FRANCISCO-A real estate partnership sells 625 Market St., a 15-story office building built in 1907 and fully renovated during the 1990s. The two largest tenants are Bank of America and the Australian Consulate.
AUBURN, WA-The online and catalog reseller of computers and computer accessories will relocate from Renton to a 150,000-sf building at Boeing's Auburn plant this September.
SAN FRANCISCO-Thanks to the Jobs and Growth Tax Relief Reconciliation Act of 2003, if you construct a building and place it in service before Jan. 1, 2005, there is a very nice first year write off to be had.