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MIAMI-The real estate investment trust based here is working with CVS developer Cedarwoods and construction firm Tri-C on the project, which they expect will be finished by the end of the year. The project's construction cost is about $3.7 million.
SEATTLE-The self-storage REIT forks over three million common shares for 19 storage centers in Minnesota, pays $164 million for 36 centers developed under a tax retention operating lease facility and pays out another $153 million to gain a majority stake in Shurgard Europe.
CHICAGO-Arro Corp. acquires the 196,000-sf former General Mills plant, located on 30 acres at 10459 S. Muskegon Ave., for $3.45 million. The deal is part of a trend that has seen food companies among the healthiest industrial tenants and buyers.
ESCONDIDO, CA-A private investment group acquires the 87,000-sf shopping center, which is part of the 115,400-sf Gateway Center mixed-use development that celebrated its grand opening this past March.
GLENDALE CA-The hamburger chain opens its first ever mall location at the Glendale Galleria in a 5,331-sf lease with a long-term commitment for a street-front location. The restaurateur's usual fare is there, except the drive-through, of course.
PALM DESERT, CA-With leases in three of four buildings, Investco Financial of Seattle is ready to add more product to the 40-acre, first phase of the Desert Business Park & Design Center. Construction also nears for 17 lots sold to owner-users.
EDISON, NJ-The 369,000-sf asset, owned by a local investment group, houses the warehousing/distribution operations of Popular Club Inc. Principal Global Investors provided the money.
BOULDER, CO-Sterling Rice-Group chose the building because of its 360-degree views of the community and its location in the heart of downtown. They will occupy the entire fourth floor of the new building.
GRAND HAVEN, MI-A shopping area in tri-cities location will become the new home of a 127,000-sf Home Depot as anchor, as well as 50,000-sf of retail space and two outlots. Ramco-Gershenson secured the in-fill location for the center where Home Depot perceived a retail void in the market.