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LONDON-Joey Kaempfer's McArthurGlen and airports operator BAA have broken up their highly-successful outlet mall venture BAA McArthurGlen. Although the business captured a massive 36% of the European outlet market, BAA is known to have seen it as a distraction from its core operations.
LONDON-Consultants for three regional assemblies have proposed the pounds 8.3 billion ($12.7 billion) expansion of Milton Keynes and south Midlands towns to accommodate 370,000 new homes.
ATLANTA-The locally based investment group buys the 90,215-sf property in North X Northwest Office Park from Ridgefield, CT-based VitalWorks for $6.55 million. Built in 1983, the building is fully occupied, primarily by the previous owner's former affiliate, PracticeWorks.
ORLANDO-Xentury City Development Co. of Orlando has until Oct. 1 to strike a deal with Osceola County on a planned 500,000-sf meeting/ exhibition structure and 30-story, 1,000-room hotel. Xentury is donating the $30 million, 30-acre parcel for the venture.
DALLAS-Eight office and industrial leases close around town with savvy talking from both sides of the street. The largest lease is 11,979 sf for five years and brings a doubling of space for the industrial user.
ATLANTA-Roswell, GA-based Foundation Development paid M-J Properties of Atlanta $36,585 per acre (84 cents per sf) for the tract near Cascade and Fairburn Roads where Foundation plans at least 200 units.
MIAMI-Steven Posner's Oceanfront LLC has until March 16 to submit development plans to the Broward County city for a planned 1,350-unit multifamily venture, 10 miles north of Downtown Miami.
MOORESTOWN, NJ-The financing package was arranged for borrower Moorestown Pleasant Valley Apartments by PW Funding. The owner will use the money for improvements to the property.
ORLANDO-Sandra Chase becomes the first female broker in Central Florida to take over a million-sf-plus suburban office leasing assignment. Senior vice president Tom Green, who had handled leasing, will focus on new operations and development for the Birmingham, AL-based REIT.
THOUSAND OAKS, CA-Baja Fresh, a chain of Mexican restaurants, signs a $6.5 million deal for 22,000 sf at the new Moody Court Corporate Center. Currently operating about 170 stores, the company expects to expand to more than 200 restaurants by year-end.