PHOENIX-Taubman Centers will collect $43.5 million more than it paid for the 611,000-sf, open-air center in 1994. Under the announced terms, Macerich will pay $51 million in cash, turn over 811,000 partnership units and assume $77.5 million in debt.

MEDLEY, FL-The five-year warehouse/distribution lease at Beacon Station here is estimated to be valued at about $727,330. The power tool distributor is moving from a Broward County location.

LOS ANGELES-The real estate investment firm hires Nancy Kresek as chief financial officer.

DES PLAINES, IL-Atlanta-based developer Seefried Properties Inc. hires former MTI Construction Services, LLC co-owner and president of development Craig J. Phillips to direct its efforts in this market, which already include a $6.9-million build-to-suit at 400 E. Touhy Ave.