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SALEM, MA-SSR Realty Advisors purchases Salem Station, a 266-unit apartment community from JPI Investment Company LP. The acquisition is the result of a pre-sale deal the two companies entered into in December 2000.
HOUSTON-A law firm moves into 25,572 sf in Phoenix Tower in a long-term lease that lifts occupancy to 81% in the 619,000-sf high-rise in the Greenway Plaza submarket. In the Galleria, a bank takes 4,864 sf.
SAN ANTONIO, TX-T REIT Inc. sells the grocery-anchored Thousand Oaks Mall in San Antonio $15.8 million, or $2.8-million more than it paid to acquire it in at the end of 2000. The buyer was Weingarten Realty Investors.
DENVER-Taylor Kohrs will be building a new $9 million recreation center in Laramie, WY. The company is expanding from its Denver base, which continues to enjoy success after 20 years. Another Denver-based company, Ohlson Lavoie, is designing the rec center.
YONKERS, NY-Mack-Cali Realty Corp. has acquired the 3 Odell Plaza office building here for $6 million. The REIT also announced it has leased approximately 45,000 sf of space at its new property to Montefiore Medical Center.
HOUSTON-The three-building, 38,271-sf complex sells after a year on the market. The property sits at the entrance to a town of specialty retailers, much like its tenant whose creditworthiness helped to secure financing.
NEW YORK CITY-In anticipation of adding 10 new member countries next year, the Council of the European Union leases 23,944 sf at 222 East 41st St. That is just about double the amount of space the EU currently leases.
ATLANTA-The North Miami Beach-based REIT pays $47.2 for the nine-year-old, 100%-leased, 512,630-sf Presidential Markets shopping center in Snellville, GA, 20 miles east of Downtown Atlanta. Cousins Properties Inc. and Presidential Marketcenter LLC, both locally based, were the sellers.
ATLANTA-Cousins Properties Inc. has landed a big name on its usually faceless board of directors. He is Erskine B. Bowles, a nationally recognized banker and the former chief of staff to former President Bill Clinton.