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FEDERAL WAY, WA-Weyerhaeuser Co. agrees to sell roughly 115,000 acres in western Washington to Boston-based Hancock Timber Resource Group. The deal is valued at $211 million, and Weyerhaeuser will use the proceeds to help pay down debt.
BALTIMORE, MD-Montgomery Park Business Center, the 1.3 million-sf redevelopment project of the former Montgomery Ward Catalog Building, signs up collection firm NCO Group Inc. as its first private sector tenant. The Horsham, PA-firm takes on 100,000 sf for its new call center.
PARSIPPANY, NJ-The construction firm will drop its local identities and operate nationally from its existing headquarters here. The restructuring will also include a new marketing division.
WRENTHAM, MA-Roseland, NJ-based Chelsea Property Group submits plans for a 60,000-sf shopping center to be developed on its 16-acre parcel on Route 1A in front of the Wrentham Village Premium Outlets, a 170-store shopping complex it developed.
PORTLAND-Despite several retail chains closing stores in the market, other retailers are thriving and expanding and heretofore stalled projects are being revived, according to a third quarter report from Norris Beggs & Simpson that backs up a national report, which ranked Portland as one of the best retail markets in the country.
BOISE, ID-Unlike their counterparts in much of the rest of the country, Boise apartment dwellers see a slight rise in rents this year, according to a recently released survey by RealFacts, the multifamily data specialists. The average occupancy rate remains around 90%, where it has been stuck for all of 2002.
BOSTON-The Residences at Chestnut Hill secures financing for the second phase of its development. Developer CFK of Newton Development Co. LLC, closes on a $12-million construction loan to build 22 garden-style units that will sell range in price from $500,000 and $1.5 million.
ARLINGTON, VA-A $101-million deal for Tishman Speyer affiliate TST/Pentagon City WorldCom Inc.'s former MCI headquarters gets the thumbs-down from a bankruptcy court judge. The 540,000-sf, two-building property could end up being leased for the time being.
HOUSTON-GSL Investments acquires a fully leased property on 2.2 acres in an ongoing portfolio building to take advantage of today's market conditions. Strohmer Symphony is the seller of 9111 Glesby St.