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ATLANTA-As anticipated, the locally based real estate firm took a $47.1 million hit on its second-quarter earnings after settling a class action and related law suit and another suit from an Atlanta homeowners association.
BALTIMORE-LaSalle Investment Management sees bust for Wall Street a boom for Main Street. As real estate stocks post strong gains, the underlying real estate market remains relatively healthy.
SIGNAL HILL, CA-Private investor F&B Properties purchased the multi-tenant industrial park from publicly traded, San Francisco-based Rreef. The eight-building Walnut Avenue Business Park was 93%-occupied at the time of sale.
EAST HANOVER, NJ - Transactions by Ceridian and Prudential reduce the available space at the 187,000-sf class A facility to just 17,000 sf. Lincoln Equities owns the asset.
PHOENIX-The state Auditor General's office is gearing up for a move into 15,848 sf of office space at 2929 N. 44th St., taking the building to 100% occupancy. Brokering the five-year lease are teams from NAI Horizon and Grubb & Ellis.
DALLAS-In a survey of 2.8 million apartment units, M/PF Research in Dallas says the impact of a slowing economy has started to invade the multifamily sector. Rent growth has slowed as a tact to keep occupancy high. The nation's average is pegged at 96.1%.
QUEEN CREEK, AZ-A Canadian investor has paid $1.35 million for 30 acres of undeveloped land in Queen Creek, a small community 30 miles southeast of Phoenix. For now, it's a land bank, but planned freeway projects are sure to spark development.
RICHMOND, VA-The auto retail REIT announced its intentions to do a deal several weeks ago, along with quarterly earnings. Nine CarMax properties in seven states are in this $102.4 million deal, with a 15-year lease term and two 10-year renewal options.
CHICAGO-Investors find well located retail still a profitable investment, even in a down cycle. In this case, the buyer was interested in the high-leverage, self-liquidating financing on the property.