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SKOKIE, IL-Yes, they pay relatively high dividend returns now, and REIT share prices have enjoyed double-digit returns. But one local real estate banker says it's still buyer beware for investors.
AZUSA, CA-The nonprofit Laborers Training and Retraining Trust pays $1.9 million for 10.4-acre parcel here in the San Gabriel Valley. Group will build a school aimed at churning out more workers for the construction industry.
WESTMINSTER, CA-The Pavilions Center, which is anchored by Vons Pavilions and Target, has added Easy Life Furniture to its list of tenants. Easy Life has signed a $1-million lease for retail space at the complex. Slated to open its doors later this month, it will be the newest of Easy Life's three stores.
HOUSTON-Warehouse Associates has secured another 1.4 acres for its 35-acre Corporate Center Kirby in South Houston. The developer has 108,000 sf under construction and is gearing up for another 137,000 sf.
LONDON-The rate of rental growth in the retail sector is slowing most quickly in London and the South East, according to DTZ Research. But many of the UK's top retail locations are still showing rental increase above the rate of inflation.
SPOKANE, WA-Old Navy opened its doors to crowds this week at the Spokane Valley Mall. JP Realty nabbed the popular clothing retailer as one of four mall tenants, and the 20,400-sf store is expected to boost activity at the strip center.
LONDON-HSBC has sold a 100,000 sf office development in the Paternoster Square complex, next to St Paul's Cathedral, to the German open-ended fund CGI and developer City Offices.
HOUSTON-The Visionary Community Church of Houston has closed on the acquisition of an 18,000-sf distribution center. Also in Houston, an equipment and parts supplier has snagged an 18,450-sf industrial site from Waste Management.
NEW YORK CITY-A newly released study says decentralization, diversification and higher insurance premiums are among the paradigm shifts the real estate community can expect in the wake of last week's tragedy.