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CHICAGO-A New York investor who went public with his group's demand for the ouster of former Prime Group Realty Trust chairman Michael W. Reschke and chief executive officer Richard S. Curto says their resignations this week may open doors to lenders that have been closed.
ORLANDO-The 400 members of Teamsters Local 385 are pinning their hopes on a federal mediator to determine if a new three-year contract that doesn't guarantee a 40-hour work week is legal. The workers say they will strike without a contract.
AUSTIN-The California gourmet food maker, Michael Angelo's, marks its 10th year in Austin by carving out a deal for extra space adjacent to its 96,000-sf building in ProLogis Trust's Corridor Park Corporate Center in North Austin.
NEW YORK CITY-One of five such grants awarded nationally, the award has been earmarked to help foster the design of Durst Organization's NYCyberCenter's power generation and distribution systems.
SAN DIEGO-Three grocery-anchored centers have been sold to locally based Pan Pacific Retail Properties in deals totaling $60.5 million. The company financed the deals with a combination of cash and draws under its unsecured line of credit.
PHOENIX-Terms of the deal are hushed, but it's definitely a long-term commitment by Menasha, says a broker. The Wisconsin-based packaging company is rolling two metro Phoenix sites into a good size chunk of a 215,000-sf industrial structure.
NEW YORK CITY-A savings of 30% is being eyed by Real Estate Board members who are eager to reap the benefits of self-insuring. Terrorism coverage, however, is not on the agenda, according to board president Steven Spinola.
DENVER-Tim and Diane Mueller want a court to force American Skiing Co. to go through with its $91.4-million sale of the Steamboat Springs ski resort, which was cancelled at the last minute.
FORT WORTH-Some 3.55 million sf of leasing assignments have been added to Fort Worth-based Woodmont Co.'s responsibilities. The package represents the first "enclosed mall" contracts for a new initiative.
TROY, MI-The temporary restraining order against Penske Auto Centers, Inc. requires the company to keep its 550 centers at Kmart stores across the US and go about its business as usual.