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LONDON-Short-term economic uncertainty is continuing to stifle corporate property decisions, according to the latest research from CB Hillier Parker. Activity in the Central London office market remains subdued.
SALEM, NH-Babies R' Us gets a $2.8 million first mortgage for its 38,791-sf store at 477 South Broadway. The property is located on the city's main retail artery and serves the southern New Hampshire and northern Massachusetts markets.
ATLANTA-The retired co-founder Home Depot Inc. and president/CEO of the Atlanta Falcons says he has too much on his administrative plate. However, area real estate sources tie the resignation to the legal problems between Post and its former chairman, John A. Williams.
HOUSTON-Lincoln Property Co. and Rreef America partner on a repositioning play with a 112-unit complex nestled in a primo neighborhood inside the Loop. More than $1 million will be spent to upgrade units and abate asbestos.
ATLANTA-The locally based restaurant development chain saw 1Q, same-store sales increases at LongHorn Steakhouse, Bugaboo Creek Steak House; and The Capital Grille. But company chairman and CEO Philip J. Hickey Jr. cautions that the 2Q performance could be flat.
ORLANDO-The 32-year-old Tampa International Airport is selling $260 million in revenue bonds, while eighty miles away the Orlando-Orange County Expressway Authority, the largest road-building agency in Central Florida, has made a $285 million bond offering.
CARLSBAD, CA-Summit Realty Advisors pays $4 million to Teknon LLC for the 27,262-sf facility. In conjunction with the sale, Teknon LLC inks a 10-year lease to occupy the building.
OAKLAND, CA-The 195-unit apartment tower on the Lake Merritt waterfront is acquired by a joint venture of The Related Companies of California and the East Bay Asian Local Development Corporation.
CHICAGO-SMB Development has acquired a 21,900-sf Near North Side building at 865 N. Larrabee on more than 25,000 sf of land for $2.95 million. Also, the Chicago Police Sergeants Association has paid $245,000 for 1616 W. Pershing Ave.
NEWBURGH, NY-New York State officials believe that revisions to the boundaries of the Newburgh-Stewart Empire Zone will reap $55.6 million in new investment, including a 1.2-million-sf distribution center to be built by Wal-Mart in Wallkill.