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SOUTHBOROUGH, MA-The Archon Group sells 120 Turnpike Rd to TA Realty Associates for $11.7 million or $148 per sf. The building is fully leased with good credit tenants.
LYNNWOOD, WA-In yet another sizable retail transaction in Snohomish County, a Redmond, Wash.-based private partnership purchases the retail center for $6.4 million. Anchored by a QFC market, the center was 84% leased at the time of sale.
NEW YORK CITY-2002 is shaping up nicely for THCR, with a best-ever Q2 following two consecutive record-breaking quarters. EDITDA for the first six month of '02 is up 35% over the same period last year.
RICHMOND, VA-Multi-family REIT United Dominion Realty Trust Inc. wraps up $475 million in transactions during the second quarter. The company also reports $54.4 in FFO for the same period, a 10% jump over the second quarter of 2001.
MONTEBELLO, CA-Inland Kenworth signs a 10-year deal to occupy five acres in Montebello in an expansion from facilities in nearby Vernon. The facility which will serve primarily as the company's regional showroom and repair center.
AUSTIN-In all, 11,776 sf is spoken for in a submarket with a 17.5% vacancy. Celite Systems, which already occupies 11,156 sf, took another 3,476 sf from Sun Microsystems at Lakewood on the Park.
MIAMI-The North Miami Beach-based REIT spent $50 million to buy five supermarket-anchored centers at an aggregate yield of 10% and also purlchased one retail development site, company chairman/CEO Chaim Katzman reports.
MIAMI-Denver-based American Investment and Management Co. has sunk $230 million in total renovations and new construction at the 80-year-old Bay Road property in Miami Beach over the past five years.
VANCOUVER, WA-Several months after submitting for a 162,000-sf expansion at the 887,000-sf Vancouver Shoppingtown, Westfield America Inc. now is pondering a much smaller expansion, if any at all.