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SAN DIEGO-The largest neighborhood shopping center real estate investment trust on the West Coast--on an acquisition binge in the first quarter--announces strong earnings and funds from operations at the outset of 2002.
WASHINGTON, DC-Georgetown Center I, a 100,000-sf Class B office building, becomes the property of Carr Capital Corporation for $14.4 million. The structure is 100% leased and counts Georgetown University as one of its lead tenants.
CANTON, MA- Designs, Inc. will pay $170 million for the assets of Casual Male Corp. beating out Charlesbank Capital Partners LLC, which had bid $137 million for the locally based men's retailer. Casual Male filed for bankruptcy late last year.
UNIVERSITY PARK, IL-USAA Real Estate is revving up a large distribution center project for Sweetheart Cup. The San Antonio-based USAA will own and develop the building, the first in the 250-acre Commerce Center at University Park.
NEW YORK CITY-Colliers Turley Martin Tucker, which invested considerable effort courting the brokers and support staff members, says the new employees will bring experience to the firm. The gains come at the expense of CB Richard Ellis and Trammell Crow.
DALLAS-Allsteel, a leading office furniture supplier, opens its first Dallas showroom in space that's been dormant for two years at Chateau Plaza. Meanwhile, New Media
LONDON-Take-up in the central London office market has begun to recover, with occupiers taking 50% more space in the first quarter than they did in the preceding three months, according to new research from DTZ.
ORLANDO-Manuel A. "Manny" Garcia, one of the area's most successful culinary entrepreneurs, and Larry Stuart, former regional food/beverage director, Lowe's Hotels will operate the four restaurants as the Garcia-Stuart Hospitality Alliance.
AUSTIN-USOL backslides even further as Nasdaq says it's time for delisting because stock has traded below $1 for 30 days. The solution is to shift to Nasdaq's Small Cap market. Meanwhile, Rob Solomon bids adieu to the chairman's post.
IRVINE, CA-Crown Associates Realty Inc. acquires the 55,200-sf, single-tenant building from Investment Building Group. The facility's sole tenant is Acuity Brands Inc., which signed a 15-year lease here prior to the sale of the building.