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WASHINGTON, D.C. – GVA Advantis has completed a recapitalization with a private equity group in Washington, D.C., controlled by Jeffrey Neal. Neal's firm will have controlling interest in GVA Advantis and will providing equity, leadership and vision for the company. “This is a great opportunity for diversifying and expanding my business and investment endeavors into a new spectrum of the real estate industry. With the planned growth and retooling of GVA Advantis, we will be able to offer a wide variety of real estate expertise to a broader range of clientele than my past businesses have allowed,” Neal said. Neal also stated that his private equity group is comprised of individual investors with specific real estate and other industry experience and expertise that will be instrumental to Advantis' future. The group was assembled to assist senior management with setting the strategic direction and leadership of the company. “Our goal in the next five years is to continue providing the highest level of services to all of our clients as well as expanding Advantis' capabilities into contiguous markets and new product areas where my strengths can add value to the clients' businesses,” Neal said. Immediate steps will be taken to size …

TRACY, CALIF. — AMB Property Corp., an industrial real estate developer, plans to enter California’s Central Valley with a 658,000-square-foot build-to-suit development in Tracy. The facility has been named AMB Pescadero Distribution Center and will serve as the regional distribution center for a major retailer, whose name has not been disclosed. AMB says they are looking ahead past the economic slump to the future. “Retailers are taking space, even in this current economic climate, in order to reconfigure their supply chain and gain increasingly-important operational efficiencies,” said Mark Saturno, managing director of the company’s West Central Region. Although Tracy has a relatively small commercial real estate presence, there is room for continued growth. The facility will be located near Interstate 5, the main north-south highway on the West Coast from Seattle to San Diego, and Interstate 580, which connects the Central Valley and the San Francisco Bay Area. “California’s Central Valley is rapidly gaining momentum as a preferred distribution location from which customers can, in one day, reach the major population centers of the Western U.S.,” Saturno said. Scheduled to meet LEED standards, the facility AMB’s San Francisco Bay Area market portfolio now totals approximately 11.6 million square feet of …

BRAINTREE, MASS. — New Boston Fund has acquired Granite Woods Corporate Center, a two-building, 168,218-square-foot office property located in Braintree. Situated on 7.5 acres, the property includes the 83,578-square-foot Building 1 and the 84,639-square-foot Building 2, which is built on top of two levels of decked parking. The two buildings are connected by a skyway. The property is 100 percent occupied by a tenant roster that includes Verizon Communications, Travelers Insurance, VNA of Boston and the Telephone Worker’s Credit Union. New Boston Fund provided in-house representation. The seller, Campanelli Cos., was represented by Peter Joseph, James McCaffrey and Chris Phaneuf of Eastdil Secured. The acquisition price was not disclosed.

SAN DIEGO — The Corky McMillin Companies recently broke ground for the development of a 104,397-square-foot Class A office building, which is located within the 360-acre Liberty Station mixed-use project in San Diego. Located on Decatur Road in the Lincoln Station Office District, the three-story Building 902 will feature open floor plates, a two-story lobby and two third-floor balconies with panoramic bay and downtown views. Designed by KMA Architecture & Engineering, the property is expected to achieve LEED certification. Green elements utilized in the project include water efficient fixtures to reduce water usage by 30 percent, fossil filter inserts for storm water quality control, roof slope and finishes to reduce heat island effect, and locally sourced materials to reduce environmental effects of processing and transportation, Additionally, 10 percent of all construction materials will be from recycled sources. Completion is slated for summer 2009. BYCOR General Contractors is overseeing the construction of Building 902. Don Mitchell, Scott Kincaid and Jill Morton of CB Richard Ellis are the exclusive leasing agents for the building.

ST. LOUIS — Paric Corp. has completed the $16 million historic renovation of the 104,820-square-foot Tudor Building, which covers the 1900 block of Washington Avenue in St. Louis. The interior of the facility, which was formerly the Wrought Iron Range Company building and has been vacant for more than 20 years, was rebuilt to include 64 residential loft units and 14 street-level retail spaces. Historic elements of the two-story structure were salvaged and reused when possible, and architectural elements were field fabricated to match existing historic woodwork, which enabled the project to earn historic tax credits and Brownfield tax incentives. Paric, which was chosen by Tudor Development and Tudor Retail Partners to act as design/build contractor, was assisted by a number of other companies involved in the project.

HUNTSVILLE, ALA. — ACTS Retirement-Life Communities has acquired Carlton Cove from Carlton Cove, Inc. for $27.25 million. The entrance fee continuing care retirement community is situated on 43 acres in Huntsville. The property includes 49 single-family and duplex homes, 113 independent living apartments, and a 91-unit, 105-bed health center.

The Research Triangle area of North Carolina is a destination for technology, biotechnology and healthcare companies. With the highest rate of Ph.D.s per capita in the United States, one the fastest growth rates in the country, its central location, and nationally known for cutting edge research and development across a wide range of fields, fueled by Duke University, University of North Carolina-Chapel Hill and North Carolina State University. Quintiles Transnational Corporation, like many other companies, is taking advantage of the power of research in this area as it provides a broad range of professional services in drug development, financial partnering and commercialization for the pharmaceutical, biotechnology and healthcare industries. With 18,000 employees and offices in more than 50 countries, Quintiles was searching for the most appropriate place for its global headquarters. It was found as Quintiles has unveiled plans for its new global corporate headquarters at what will now be called Quintiles Plaza in Imperial Business Park, located at Interstate 40 and Page Road in Durham, the heart of the Research Triangle. More than 1,300 of Quintiles’ employees work in the Triangle area, a number that is expected to grow to approximately 2,000 by 2012. To accommodate the growth, Quintiles …