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PALM BEACH, FL-The leases would be acquired by the company's wholly owned taxable REIT subsidiaries from Innkeepers Hospitality, the company's main lessee, for $5.25 million cash. The deal is subject to certain conditions, but the first phase of lease acquisitions is expected to close in the third quarter.
MIAMI-As the market offers several attractive options for office tenants, retaining tenants has become a priority of property owners and a large amount of space has been renewed.
WILMINGTON, MA-Evans Packaging Company acquires a 20,000-sf industrial building at 150 West St. for $915,000 from Getov Realty Trust. The company bought the building empty and has already leased out the first floor of the two-story building.
OCALA, FL-Paul R. Allen, founder and president of Oakton, VA-based Oakmont Advisors LLC, joins TBW chairman Lee Farkas and president Ray Bowman on the company's executive committee. Ocala is 65 miles northwest of Downtown Orlando.
LOS ANGELES-Developers acquire the long-closed eatery and plan to build 48 apartments there. The shuttered restaurant has been the scene of numerous movie shoots.
STATEN ISLAND, NY-Saint Vincent Catholic Medical Centers chose Cushman & Wakefield to act as its real estate advisor for the disposition of the land at its Bayley Seton Campus here.
GREATER BOSTON-Richards Barry Joyce & Partners' 2003 Mid-Year Review & Forecast demonstrates a sluggish real estate market for the Greater Boston area. Vacancy and availability rates are on the rise for nearly every segment.