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PHILADELPHIA - The Johnstown, PA-based REIT pays Equitable Life $151 per sf for the 331,000-sf portion of the La Crosse, WI, center not owned by anchors Sears, Marshall Field's and Herberger's. Valley View's total of 587,000 sf includes a 35,000-sf detached strip center.
PHILADELPHIA-Michael D. Blunt is promoted to associate director of the financial services group at the local office of Cushman & Wakefield of Pennsylvania. He joined this office in 1995. Meanwhile, C&W expands a law firm's lease at One Liberty Place.
BOSTON-Raymond Property Co., a locally based real estate developer, forms a joint venture with Hines Interest LP to develop large-scale residential projects. The team is looking at properties in the downtown area and in the Route 495 area within Route 128.
WOODBRIDGE, NJ-RealShare New Jersey, slated for this Thursday and headlined by a stellar slate of speakers, is expected to attract more than 300 of the Garden State's top real estate professionals.
CHANDLER, AZ-Three restaurants have opened in the past month and more are on their way in a major push into the Phoenix market by the Greenwood Village, CO-headquartered chain. To date, the chain has eight spots in the metro.
PHOENIX-The Maricopa Data Storage Center takes another 12,334 sf at its Magnolia Street location in the Arizona Industrial Center. The extra space, secured by a seven-year lease, was had for 39 cents per sf triple net.
MIAMI-The Boynton Beach, FL property was purchased by an Orlando investment group for $21.75 million or about $39.11 per sf. The property comprises a 556,000-sf manufacturing/warehouse building on 90 acres. Motorola will lease back 190,000 sf in the facility.
AUSTIN-The Louisville, KY firm signs for 3,000 sf at the Summit at La Frontera after inking a new reciprocal agreement with Dell Computers. Lexmark will move into an 87,711-sf building close to Dell's campus.
SHENANDOAH, TX-Today Realty Advisors puts in Weitzman at the two-year-old power center, where occupancy is now 82%. The plan is to revisit local brokers, court more national retailers and draw on its positioning near the Woodlands.
CARLSBAD, CA-Construction on the class A development, known as Ocean Ridge, will begin this January. Designed to encompass 75,000 sf, the built-out project will feature a state-of-the-art energy management system with computerized security, as well as an integrated fiber optic cable and telephone systems network.