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MESA, AZ-A 23,838-sf spot in Red Mountain Plaza at the crossroads of Power and McKellips roads wins a long-term nod from the national retailer. The plan is to unlock the doors within a month.
PHILADELPHIA-The Indianapolis-based REIT acquires an industrial property to meet the needs of its client, Stanley Works, which leases 50,000 sf, or 66%, of the property in Cleveland's northeast submarket.
MIAMI-The $40 million toll system refunding revenue issue, series 2002, will be sold through lead Wall Street syndicator Salomon Smith Barney at an undetermined date depending on market conditions, New York-based Fitch Ratings says.
SAN DIEGO, CA-The CEO and CFO of Pan Pacific Retail Properties Inc. increase their ownership interests in the shopping center REIT through a two-step stock transaction. As a result, CEO Stuart A. Tanz now owns 21,667 more shares of common stock, while CFO Joseph B. Tyson's interest increases by 2,000 shares of common stock.
SAN ANTONIO-Kinetic Concepts has sealed a modified sale/leaseback of its Northwest San Antonio property, acquired in 1992. The firm keeps 130,000 sf for the headquarters and gets 30,000-sf expansion option in the 10-year master lease.
CHICAGO-Citadel Investment Group, LLC now has about 274,000 sf leased at the Central Loop office tower being developed by Prime Group Realty Trust, which now is 5,000 sf shy of hitting the 1-million-sf mark in leases at the 1.5-million-sf project.
ATLANTA-Henry is a former principal of locally based Lend Lease Real Estate Investments where he was portfolio manager for two institutional pension funds.
RED BANK, NJ-Kevork Hovnanian's gift will be given in the name of his 15-year-old grandson, who was killed in a recent boating accident. The beneficiary is this city's Riverview Medical Center.
SCITUATE, MA-In an expression of frustration at the state's affordable housing law which allows developers to bypass local zoning laws if their projects have an affordable housing component, some towns are asking the state to impose a five-year moratorium the projects.