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COSTA MESA, CA-The former VP of leasing at the private REIT steps into the vacancy created when Patrick Donahue became president and CEO. The promotion also nets a seat on the firm's five-member executive committee.
FORT WORTH-Keller Properties takes the deed to the Courtyards on Calmont, using 1031 Exchange money and a $682,000 loan. The 88%-occupied complex was on the market for six months before it traded.
JERSEY CITY-Xtra, a specialty grocery chain, is set to take over the 50,000-sf store vacated by CitiMarkets in this city's Martin Luther King Drive Hub, a redevelopment project.
CHICAGO-The $67.6 million in recent sales by the REIT includes the US West Dex Center in Salt Lake City to Bridge Partners Inc. for $11.6 million. Mixed-use and flex office properties in Santa Monica, CA, as well as an industrial asset in Hayward, CA, also have no place in Equity Office Properties Trust's portfolio.
HOMEWOOD, IL-Leona's has snatched up the site of Surma's, a venerable eatery in this south suburban town, in an continuing effort to expand its presence in the Chicagoland area.
ATLANTA-In its first formal reply to ex-chairman John A. Williams' ongoing fight to regain control of the company, the apartment REIT says that if Williams succeeds, the firm will have problems recruiting top management personnel in the future.
DETROIT-Two brokerage firms have handled two industrial transactions totalling more than 200,000 sf. The space users in both deals are both automotive suppliers.
CHICAGO-Jones Lang LaSalle wins the assignment to market two acres at the southwest corner of Madison and Des Plaines streets, which could be developed as a 900,000-sf office tower under current zoning.
LONDON-The European Bank for Reconstruction and development is to stay in its existing headquarters at One Exchange Square, Broadgate in the City of London. Canary Wharf had been attempting to entice the bank to a new HQ in Docklands.