Two 1970s-era buildings undergo renovation in Silicon Valley Koll Development Co. and Gibson Spenco Cos., two West Coast firms, acquired two industrial properties in Silicon Valley's Golden Triangle and plan to renovate both 1970s-era buildings.
Situated on 5.62 acres near Montague Expressway in Santa Clara, Calif., the facilities total 112,000 sq. ft., and each is 100% occupied with tenants that include the San Jose Mercury News and Bay Networks.
The redevelopment plan for the project includes a cosmetic upgrade of the buildings, which were originally constructed in 1972, with updated architectural treatments, including accent colors and awnings.
Feurstein Family Trust buys industrial complex in California Southern California's Feurstein Family Trust, an Encino, Calif.-based real estate company, purchased an eight-building complex from Alumax Inc. for an undisclosed amount.
Located within the 28-acre Hunter Industrial Park, the company will manage the now vacant 437,647 sq. ft. complex, which will be known as the Hunter Columbia Business Park.
Brooklyn waterfront site sells for $12 million One of the last remaining waterfront sites available for future development in New York City has just changed hands. The 300,000 sq. ft. warehouse complex, located on a 5-acre Brooklyn site where the East and Hudson rivers meet, sold for $12 million.
MLB Kaye International Realty's commercial services division represented the seller, and Eastern Consolidated Properties Inc. represented the purchaser, which plans to hold the property as an investment. Zoned for industrial uses, the complex is leased to corporate and government entities for 20 years.
CB Richard Ellis completes project for Miller-Valentine CB Richard Ellis of Phoenix has announced the construction completion of Sky Harbor Center, a 121,600 sq. ft. distribution and manufacturing facility at 1710 E. Grant St.
The speculative development, located within the masterplanned Phoenix Sky Harbor Center, is a project of the Miller-Valentine Group, based in Cincinnati.
LaSalle closes massive portfolio acquisition in Milwaukee In a deal arranged by LaSalle Advisors Capital Management, 2 million sq. ft. of industrial property is changing hands in Milwaukee.
LaSalle Advisors, a Chicago-based real estate firm, acquired the industrial portfolio on behalf of CalEast Industrial Investors, from Dallas-based Prentiss Properties Trust for an undisclosed sum.
The portfolio, which is 98% occupied, includes 21 office /industrial buildings and two land parcels totaling 24 acres near General Mitchell International Airport.
Permits issued for 106-acre industrial park in South Florida Site work is already under way and the first building permits have been issued for Seneca, a 106-acre industrial park on the north side of Hallandale Beach Boulevard, west of I-95 in Pembroke Park, Fla. The property, which is a project of Southern Facilities Development Inc., will be ready for occupancy in mid-1999.
The first phase of Seneca will consist of two buildings totaling more than 235,000 sq. ft. The entire complex will have 14 buildings with layouts ranging from 7,800 sq. ft. to 500,000 sq. ft. Each building will offer 24-foot clear ceilings, three docks per bay and concrete truck courts.