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MARINA DEL REY, CA-The retail REIT expects a $24-million gain from the sale of the 448,000-sf community shopping center here, which it acquired in 1996. Buyer M&A Realty Partners assumes the property's $58-million mortgage.
LAKE OSWEGO, OR-As part of the settlement, B.A.S.S. Construction Co. receives an option to purchase a 425-acre tract of Lincoln County land--the property at issue in the litigation--by June 28, 2002.
PEORIA, AZ-The Peoria Unified School District pays nearly $2.1 million to a local investment group for 20 acres in the Arrowhead submarket. The district intends to use the site, located one mile west of Loop 101, to park its 114-bus fleet.
WOOD-RIDGE, NJ-The money will finance the acquisition, also arranged by the advisory firm, of the 2.5 million-sf Curtiss-Wright Industrial Complex by two prominent real estate families.
HOUSTON-A 10-year tenant stays put in its 11,000-sf office at 1111 Fannin in the heart of the city's CBD. Chase Bank is the owner of the 450,000-sf, class B property, which bears a 99% occupancy.
LONDON-New research shows that England is becoming more and more densely populated. Government figures show that the number of dwellings in the country has gone up 7% since 1991.
CHICAGO-A Baymont Inn & Suites is still set to come to River North, a Harrah's opens most of its new rooms on the Lake Michigan shore across the state line and a renovation continues at the Executive Plaza.
GREENWOOD, MS-Philadelphia-based Binswanger/CBB arranges the sale of a 73,659-sf industrial property here. Buyer is the John Richard Collection, a home-furnishings company.
BALTIMORE, MD-The County Council has voted to sell five properties in hopes of raising about $6 million in cash. The sites cover a total of 20 acres and range in value from approximately $3 million to $4,700.
ROCKWALL, TX-A local developer pays close to the $3.9 million sought by the joint venture seller for 129 acres that border the 233-acre Rockwall Technology Park and Interstate 30. The plan is to resell the land for retail and light industrial use.