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ESCONDIDO, CA-The locally based REIT announces favorable operating results for the year ended December 21, 2002 with highlights including a rise in revenue of 13.8% and a 22.2% increase in funds from operations.
CITY OF INDUSTRY, CA-Jim Center and Rick Sheckter will share management duties at the San Gabriel Valley office. Both are industrial specialists with the firm and consistent leading producers.
ATLANTA-Nelson Schwab replaces Joel Manby as chairman of the Branson, MO-based entertainment company. Manby will continue to be based here, where the conglomerate operates Georgia's Stone Mountain Park.
LAKEVILLE, MA-In a deal that demonstrates the continued strength of the area's industrial market, CRA/Waste Management leases a 104,723-sf industrial facility at 260 Kenneth Welch Dr. The company will use the facility as the center for its Northeastern US beverage-processing operations.
HAWAII-The department store chain already has a presence at the Prince Kuhio Plaza on the Big Island and the Queen Kaahumanu Center on Maui, and will soon open an additional 62,000-sf store in the former venue and an 86,000-sf location in the latter.
NEW YORK CITY-The down market continues to push brokers from one firm to another. And as firms compete for revenues, brokers are competing for signing bonuses. Those who don't may opt to start their own boutique firms.
LONG BEACH, CA-Dr. Lee's Los Angeles-based Jamison Properties pays about $19.3 million for its first office building in Long Beach, taking title to the 157,076-sf Circle Business Center. It was 95% leased at sale time.
SEATTLE-Six years after leaving Mithun to launch their own design studio, Paul Wanzer and Kim Munizza are selling their company to Mithun. Specializing in retail, restaurant and hotel interiors as well as high-productivity workplaces, the pair has done work for REI, Starbucks and Microsoft.
HOUSTON-Prosperity Bancshares in Houston hopes for a second-quarter closing on the purchase from Chicago-based MB Financial. The Houston bank is marking its second North Texas purchase in two years in a plan to increase its footprint in the state.
LONDON-Hilton is investing pounds 27 million ($44 million) in the expansion of its hotel at London's Gatwick Airport. The hotel is linked directly to the South Terminal at the world's sixth busiest airport.