Globest Sectors

PHOENIX-With the highest number of vacant big boxes in the West, the Valley is fertile ground for discount retailers looking to tap middle-class dollars. Discounters are finding some sweet deals in the metro's upscale neighborhoods.

CHICAGO-New Jersey-based Chelsea increases its presence in the Upper Midwest with the acquisition of two outlet malls, one in the Twin Cities market, another that serves the Milwaukee and Madison metro areas.

LONDON-Liverpool City Council has granted planning permission for Grosvenor and Henderson Global Investors' one million-sf retail-led scheme for the Paradise Street area of the city centre.

PORTLAND-Umpqua Holdings Corp. receives $70 million in capital financing to fund the cash portion of the previously announced $215-million merger with Centennial Bancorp. The transaction is expected to close in the fourth quarter.

WESTWOOD, CA-The office building on Santa Monica Boulevard is 32% vacant. The four-story, steel-frame structure was built in 1985. A remodel is planned.

ATLANTA-After nearly a decade-long absence from this market, the Troy, MI-based company partners with Royalton Investments to buy the nine-story, 86%-leased, 125,603-sf building. Hayman may build condominiums on its rooftop parking deck.

MIAMI-The price of the 29-year-old, 183-unit project in Plantation, FL, equates to $48,907 per unit. The project, originally built as a condominium community, has one- and two-bedroom units and is approximately 95%-occupied.

PHILADELPHIA-Cincinnati-based based trustee L.J. Shapiro sells the 100,000-sf, 25-year-old shopping center in the northern Cincinnati suburb of Forest Park for $2.28 million to Mendos Inc., which plans a significant upgrade. Anchors are Family Dollar and NAPA Auto Parts.