Western

CITYCENTER UNVEILS RESORT CASINO PROJECT

by admin May 21, 2008

LAS VEGAS — CityCenter has unveiled its plans for a resort casino, which is slated to open in late 2009. Designed by Pelli Clarke Pelli Architects, ARIRA Resort & Casino will feature two curvilinear glass towers, lush foliage, wood and stone elements, and a three-story lobby and casino. Additionally, the project will feature a variety of dining options, including bistros, cafés and world-renowned restaurants. Other features include lounges, bars, nightclubs, a spa, a full service salon, a barbershop, a deluxe fitness room and a group exercise studio. ARIRA will be the core of CityCenter, a more than $8 billion vertical city currently under construction between the Bellagio and Monte Carlo resorts on the Las Vegas strip.

May 21, 2008

THORNTON TOMASETTI INC. SELECTED FOR STRUCTURAL DESIGN FOR TRANSBAY TRANSIT

by admin May 21, 2008

SAN FRANCISCO — Thornton Tomasetti Inc. has been selected to team up with Pelli Clarke Pelli Architects to provide structural design services for Transbay Transit Center in San Francisco. The new center will centralize the region’s transportation network by accommodating nine transportation systems, including AC Transit, Caltrain, MUNI, Golden Gate Transit, SamTrans, Greyhound, BART, WestCAT and the future California High-Speed Rail. For the centerpiece of the project, the design team has proposed transforming the roof of the transit center into a public park, City Park. The 5.4-acre park would feature attractions and amenities that characterize urban green spaces. The 40-acre redevelopment area surrounding the terminal station will be developed into residential and retail components.

May 21, 2008

Industrial Western

CARTER COS. TO DEVELOP 73,385-SQUARE-FOOT INDUSTRIAL BUILDING

by admin May 21, 2008

MESA, ARIZ. — Carter Cos. is developing Falcon Crest Business Center at 4030 E. Quenton Dr. in Mesa. The 73,385-square-foot industrial facility is divisible to approximately 7,500 square feet and offers 10 truckwells and eight grade-level doors. Ergonomic Solutions Inc. (ESI) has pre-leased 31,712 square feet at the property, which is slated for completion in first quarter 2009. Garrett Schoenberger and Andrew Markham with Grubb & Ellis|BRE Commercial are marketing the project.

May 21, 2008

Retail Western

TAUBMAN, MGM MIRAGE TO DEVELOP 1 MILLION-SQUARE-FOOT RETAIL PORTION AT M RE

by admin May 21, 2008

HENDERSON, NEV. — Taubman Centers Inc. has partnered with M Resort, Spa and Casino and MGM MIRAGE to develop a 1 million-square-foot retail component as part of the $1 billion M Resort, Spa and Casino development located at the intersection of Las Vegas Boulevard and St. Rose Parkway in Henderson. Owned and developed by Taubman, the retail portion will feature in-line shops, restaurants, theaters and fashion department stores. Construction is slated to start this year or next, with completion scheduled for late 2011 or early 2012.

May 21, 2008

Office Western

TRANSWESTERN REALTY FINANCE PARTNERS CLOSES $25 MILLION LOAN FOR OFFICE PRO

by admin May 21, 2008

SAN MATEO, CALIF. — Transwestern Realty Finance Partners LLC has closed a $25 million mezzanine loan for San Mateo Executive Park, which is located off Highway 92 between Highway 101 and Interstate 280 in San Mateo. The five-building office park totals 261,000 square feet. Transwestern’s investment was made on behalf of Transwestern Mezzanine Realty Partners III LLC, a fully discretionary investment fund with more than $300 million in capital.

May 21, 2008

Mixed-Use Western

GROUND BREAKS FOR THE NOLEN

by admin May 20, 2008

San Diego ¬— San Diego-based Davies Development & Investments Inc. has broken ground for the development of The Nolen, a mixed-use office development located in downtown San Diego’s Ballpark District. Designed by Fehlman LaBarre Architects Inc., the 13-story project will offer ground-level retail space and office space on the remaining floors. Each office tenant will occupy an entire floor and will have private, password-protected elevator access. Additionally, the top five floors will feature private balconies. The company plans to submit the project for LEED certification. Completion is slated for the first half of 2009. B&G Consultants are providing construction management; PCL is serving as general contractor.

May 20, 2008

Office Western

CORE COMPLETES DURANGO VILLAGE PROFESSIONAL PARK

by admin May 20, 2008

LAS VEGAS — CORE Construction~Nevada has completed the construction of Durango Village, a professional office park located at 6002 S. Durango Dr. in Las Vegas. Developed by Arizona-based SAXA, the project consists of 12 commercial office buildings totaling 91,763 square feet. Tenants can lease or purchase space from 1,200 to 29,000 square feet. Phoenix-based DFD CornoyerHedrick provided architectural services for the project.

May 20, 2008

Mixed-Use Western

TRADEMARK TO DEVELOP 80-ACRE MIXED-USE DEVELOPMENT

by admin May 20, 2008

AVON, COLO. — Fort Worth, Texas-based Trademark Property Company is developing Vail Valley Center, an 80-acre mixed-use development located in Avon. With approximately 4,500 linear feet of Interstate 70 frontage, the property is slated to include a mix of national, regional and local specialized retailers, restaurants, entertainment and other commercial spaces. Additionally, the center will feature multifamily housing, hotels and Class A office product.

May 20, 2008

Office Western

SUN LIFE FINANCIAL PURCHASES 28,517 SQUARE FEET OF OFFICE SPACE

by admin May 20, 2008

SALT LAKE CITY — The U.S. division of Sun Life Financial has acquired 28,517 square feet of space at a 13-story, 160,097-square-foot office tower located in downtown Salt Lake City. Sun Life now owns the entire building, which is located at 185 S. State St. At the time of acquisition, the property was 73 percent occupied. William Barres provided Sun Life’s in-house representation for the transaction. The acquisition price was not disclosed.

May 20, 2008

Retail Western

TWO-BUILDING RETAIL PROPERTY SELLS FOR $3.85 MILLION

by admin May 20, 2008

SANTA MONICA, CALIF. — Blair Chang of Prudential California Realty represented the undisclosed buyer in the acquisition of a two-building retail property, which is located at 2116 Main St. in Santa Monica. The 4,777-square-foot property sold for $3.85 million or $806 per square foot. At the time of acquisition, the property was 100 percent occupied by two tenants: Art Luna Salon and Santa Monica Kennels. Polly Johnson of Sperry Van Ness’ Los Angeles office represented the seller, Santa Clarita, Calif.-based NORSAN LLC, in the transaction.

May 20, 2008

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