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BEAUMONT, TX-CBL & Associates finishes up work on an 80,190-sf mall, secured in 2001 when it bought 21 malls and two centers from the Richard E. Jacobs Group. The center, with a trio of anchors, opened at 91% leased.
WEEHAWKEN, NJ-300 Boulevard East, which features Cable & Wireless and Level 3 as its key tenants, is said to move from Argent's portfolio into that of CalPERS.
LONDON-The scale of the downturn in Britain's industrial market has been highlighted by new figures which put floorspace availability at over 190 million sf, a 10-year high and on a par with the worst years of the last recession.
FORT MYERS, FL-Kings Towne Oaks Revocable Trust and Kings Towne Oaks LLC paid $32,721 per unit cash for the 136-unit complex, which was 95% occupied at the time of closing. The new owners plan to spend $350,000 on renovations to the property, which was originally built in 1974.
WOBURN, MA-The Winchester Orthopaedic Group nearly quadruples the size of its practice by taking 15,943-sf of space at 150 Presidential Way. A broker involved in the deal tells GlobeSt.com that the area continues to struggle and relief is not expected anytime soon.
DALLAS-The new owner is the new property manager for the 98%-occupied Chateau Plaza. Brokers are being courted for the leasing job while Jones Lang LaSalle talks to hold onto its four-year assignment. But, the lead tenant too has some thinking to do.
LOS ANGELES, CA-The groundbreaking for a $22 million technology center, slated for today (Monday, Dec. 2) at East Los Angeles College, is the first step in a $200 million building program.
CHICAGO-A class action lawsuit seeks to stop Equity Residential from charging up to three months of lease termination fees and return money paid by former tenants. Equity Residential owns 34,353 units in Florida, where 13.5% of its net operating income is produced.
PHILADELPHIA-The Port Washington, NY-based REIT contemplates redevelopment of an 89,000-sf former Montgomery Ward unit and other renovations for the 523,000-sf mall located on 44 acres in Camp Hill, PA. The seller is an affiliate of Connecticut General Life Insurance Co.
GIBRALTAR, MI-Made in Detroit, reorganizing after filing Chapter 11, still plans on building a $350-million project along Detroit River that would include a golf course and marina. The filing follows the rejection of a partner who would have infused capital.