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ATLANTA-The supplier of Dove, Lipton and other consumer products adds 443,520 sf to its 600,000-sf distribution facility in a 10-year lease estimated at $4 per sf. Denver-based distribution specialist ProLogis owns the building, operated by a third-party logistics provider.
WOODLAWN, MD-The Social Security Administration has signed on to temporarily occupy the 145,800-sf property that was once a Sam's Club. After remodeling the property, the organization will relocate some of its workers to the space until the multi-million renovation of its headquarters is complete.
PHOENIX-Brokers are boasting about the market, but it's not as rosy as they'd like to believe, according to Hendricks & Partners. Absorption is down and so is the pipeline. Researchers say it could be some time before construction picks up.
BOCA RATON-Crocker Realty Trust sells off its remaining 4.3 million-sf portfolio to SCH Corp, which assumes $199 million in debt as part of the deal. Neither party is disclosing the exact purchase price for the group of 89 buildings.
LONDON-Dacorum Borough Council has resolved to grant detailed planning consent for Nicholson Estates' Pounds 45 million ($65 million) mixed-use redevelopment of the Plough site in Hemel Hempstead town centre.
STAMFORD, CT-A partnership controlled by New York City developer Larry Silverstein has sold the 360,000-sf Ridgeway Shopping Center here to Urstadt Biddle Properties of Greenwich, CT. for $89.3 million.
WASHINGTON, DC-The Madison Hotel gets a new owner with pension fund Multi-employer Property Trust's reported $80-million acquisition of the luxury property and its adjoining office building. A 30-million renovation is planned.
TRENTON, NJ-The action will allow Manex Entertainment to build a major new production complex and enable the YMCA, which also eyed the site, to build a new facility of its own nearby.
DENVER-The New Jersey-based REIT will wait until market conditions improve before continuing to execute its strategy of exiting non-core West and Southwest US markets.