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CHARLOTTE-After a five-year search, Realtors Bill Rankin and Harry Porter found a one-acre parcel housing the 14,000-sf Korean Presbyterian Church building in the East Morehead district. They paid a total $975,000 which equates to $22.38 per sf for the land and $69.64 per sf for the structure.
NEW YORK CITY-The rage for the last few years has been virtual operations, but with Wall Street's brutal beating of technology stocks, eyes are taking a fresh look at the industrial sector.
NORTH MIAMI BEACH, FL-Locally-based Geopak Corp. paid Reynolds Metals Development Co. $1.17 million or $272,093 per acre ($6.25 per sf) for a 4.3-acre parcel near Interstate 75 and Shotgun Road in Sunrise, FL, Broward County, 30 miles north of Downtown Miami.
DUBLIN, CA-Property owners and their lawyers say proposed zoning for their land is inappropriate and too restrictive. Their concerns will be addressed at a City Council meeting scheduled for Dec. 19.
BOSTON-After losing its anchor tenant, Modern Continental Enterprises receives a commitment to lease 28,000-sf of space at Independence Wharf. The 14-story former factory building is being converted to Class A office space.
RENTON, WA-The national electronics retailer paid Boeing Realty Corp. $15.2 million for 23.1 acres here. Fry's is planning a new 144,000-sf store on a portion of the property.
ROCKVILLE, MD-Federal Realty Investment trust has a new vice president, investor relations. Andrew P. Blocher was with CRIIMI MAE. Now he is responsible for Federal Realty Investment Trust's investor relations activities.
SEATTLE-The former president a Seattle-based real estate appraisal and consulting firm, Arscott will be involved in property acquisitions, dispositions and development projects throughout the United States.
NEW YORK CITY-The final flurry of sales--encompassing seven properties in Canada and the US--brings the total value of shed properties to $1.7 billion.