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ALLENTOWN, PA-The Arlington, VA-based provider of marketing support services inks a long-term lease at the business center owned by West Conshohocken, PA-based Keystone Property Trust for an undisclosed rental rate, estimated at about $4.25 per sf, according to local brokers.
PORTLAND-The bankrupt department store chain's attorney tells GlobeSt.com that the failed department store chain has an agreement with Alamo to sell them all but four of its leaseholds subject to higher offers at auction next week in Portland.
HOUSTON-The prize is a 57,750-sf industrial building, occupied by a Baker Hughes subsidiary, near Clay Road and Sam Houston Parkway in the northwest submarket. The 5.7-acre holding carries a 2002 assessment of $1.3 million, according to the county.
SCOTTSDALE, AZ-Phil Marvin of Eugene, OR gets title to four properties in Scottsdale's historic district after identifying the buildings and waiting until the owner was willing to sell. It's the investor's third metro Phoenix buy in about a year.
MEMPHIS-The fast-food chain has partnered with Well Done Enterprises to develop 23 restaurants in Washington, DC and two outlets in State College, PA over the next 10 years. Back Yard will also open more than 20 stores this year, five of which will be co-branded with Taco Bell.
RIVERSIDE, CA-Turner Development will start out with a 167,000-sf first phase in nine freestanding industrial buildings and a multi-tenant commercial building on a project site near La Sierra University. The first phase will deliver in February 2004.
ARLINGTON, VA-The Market Commons--a one-year-old, highly successful retail and residential development--gets a new owner as the Teachers Insurance and Annuity Association of America acquires the property for a whopping $166 million from Market Commons developer McCaffrey Interests Inc.
PHOENIX-A 1031 Exchange delivers a sale for a 23,213-sf office building that's 94% leased in short- to medium-term pacts, one of the reasons that it came to market. The buyer, a Reno owner, took the opportunity to get into a metro Phoenix property.