FOUNTAIN HILLS, AZ-Madrona Acquisitions takes control of the 31,442-sf Fountain Oasis for $4.5 million in a sale/leaseback with developer, Fountain Vista Properties. The buyer's first deed in Phoenix is a four-year-old office building with a 55% occupancy.
HOUSTON-Trammell Crow Co.'s office leasing director persuades Grubb & Ellis Co.'s top team to join the firm. Steve Rocher, Kristen Rabel, and Charles Scoville bring more than four million sf of office leasing assignments with them.
HOUSTON-National Office Partners closes the last round of sales for a disposition that began last year. In all, $2.2 billion has traded hands to position the JV for a $1.3-billion refueling. A Chicago building already is under contract.
HOUSTON-National Office Partners closes the last round of sales for a disposition that began last year. In all, $2.2 billion has traded hands to position the JV for a $1.3-billion refueling. A Chicago building already is under contract.
TEMPE, AZ-Biltmore Holdings finalizes its development plans for Riverside Office Plaza. The firm will break ground on 75,286 sf of class A condos next month and follow with as much as 300,000 sf of build-to-suits
PHOENIX-The fully leased medical office building trades for $2.1 million or $300,000 more than the list after 10 offers roll in for a prize leased to Catholic Healthcare West until 2009. The winner is a 1031 exchange buyer from Southern California.
PHOENIX-Clark Security Products Inc.'s seven-year lease, with a payout pushing $1 million, takes a Lincoln Commerce Park industrial building to 100% occupancy. Finish-out will be done in time for a March move-in.
HOUSTON-The local apartment REIT reports concession totaled $11 million for fourth quarter 2004, a decrease of $1 million. Total concessions declined about $90 per unit on an annualized basis.
HOUSTON-Northline Mall's owners decide to replace the 1960s-era product with an open-air power center, set to rise at the perimeter of the 77 acres so the mall can remain open during construction and then be razed. Construction begins this year.