REAL ESTATE

Grosvenor Americas sells Pasadena building

BY CSA STAFF

Pasadena, Calif. Property development and investment firm Grosvenor Americas said it has sold 2 North Lake, located in Pasadena, Calif. The transaction includes the 11-story 2 North Lake office building, an adjacent three-story building, a single retail tenant building at 902 Boston Court and an eight-story parking structure.

2 North Lake is at 90% occupancy.

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REAL ESTATE

Vestar delivers first LEED-certified retail development project in Ariz.

BY CSA STAFF

Oro Valley, Ariz. Vestar Development Co. announced its Oro Valley Marketplace project has earned LEED (Leadership in Energy and Environmental Design) Silver certification, marking the first retail project in the state to earn the designation, and one of the first in the Southwest.

The certification is part of Vestar’s GreenStar initiative, the Southwest’s first large-scale commitment to sustainable shopping center building techniques, according to Vestar. Its goal is to achieve certification for the company’s new development projects.

In addition to the LEED certification, Oro Valley Marketplace is the largest environmental restoration project in Oro Valley history. It opened in October 2008.

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REAL ESTATE

RMC Property names exec

BY CSA STAFF

Tampa, Fla. RMC Property Group said it has appointed Dan Morris VP acquisitions and development.

Prior to joining the RMC team, Morris was the director of retail real estate at Opus South Corp. based in Tampa, Fla.

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