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DALLAS-It's not that Konover Property Trust doesn't like Texas, it's just not east enough for the North Carolina-based REIT, which is looking to sell all Lone Star State holdings. Credit Suisse First Boston has been hired to find a taker for 28 outlet centers, including five in Texas.
NEW YORK CITY-The changeover, which is expected to take a year to complete, is designed to deliver the benefit of cash flow without having to sell properties and pay taxes.
SAN JOSE, CA-The five parcels to be redeveloped are located throughout the San Jose central business district, with the largest being a 5.1-acre property at Santa Clara and First streets. Three parking lots also are on the list.
CRANBURY, NJ-Three office facilities, acquired in 1998, were extensively renovated and re-leased to get them ready to sell at the right time, which just happens to be now.
PORTLAN-In 2001, the state is expected to again see employment growth of about 1.4% with a personal income increase of 5%, according to US Bank's in-depth economic forecast and review by John Mitchell, economist for the bank's Western region.
LOS ANGELES-Minnesota Public Radio, host to the popular Prairie Home Companion show that satirizes life in the mythical town of Lake Wobegon, signs a 10-year lease for $3.5 million in the CBD's Figueroa Courtyard office complex.
PORTLAND-The Arlington Club, a century-old, members-only facility for Portland's business elite, is seeking $150,000 in damages caused during demolition of the Aero Club building that the Paramount Hotel replaced.