RECENT NEWS
McKessonHBOC Names Frank Robinson to Realty Post
August 30, 1999 SAN FRANCISCO – McKesson HBOC Inc. (NYSE:MCK) has hired Frank A. Robinson to the post of vice president of corporate real estate. Robinson, who formerly held a similar post at the Tandem division of Compaq...
Urstadt Biddle Sells Non-Core Property for $2.8 Mln
August 30, 1999 GREENWICH, Conn. – Urstadt Biddle Properties Inc. (NYSE: UBP) sold, for $2.8 million, a retail property in Mesa, Ariz., that is triple net leased to Mervyn's. Urstadt Biddle will realize a gain of $1.4 million...
Sun Communities Plans $100 Mln MTN Offering
August 30, 1999 Sun Communities is planning to raise $100 million through an offering of medium-term notes.The Farmington Hills, Mich., REIT said that it might offer some of the securities in foreign currencies -- a hint that it...
Simon Property Venture Completes Part of $1.7 Bln Mall Purchase
August 30, 1999 INDIANAPOLIS – A venture led by Simon Property Group Inc. (NYSE:SPG) completed the first phase of its $1.7 billion purchase of a regional mall portfolio from New England Development Co.The venture acquired 10 malls, with...
Canadian Regional Digest
August 30, 1999 $15-Bln pipe dreamMontreal Gazette, August 30MONTREAL – A new coalition of municipalities, businesses and labour groups is calling for a massive, long-term $15-billion renewal program for Quebec's decaying infrastructure. The Coalition for the Renewal of...
Southeast Regional Digest
August 30, 1999Fiat eyes S.C. site for plantThe Business Journal of Charlotte, August 30CHARLOTTE, N.C. – A subsidiary of Italian automaker Fiat S.p.A. is considering building an $80 million to $100 million aluminum casting plant about 35 miles...
United Dominion Realty Outlook Revised to Neg by S&P
August 30, 1999 NEW YORK – Standard & Poor's revised its outlook on United Dominion Realty Trust Inc. (NYSE:UDR) and its operating partnership, United Dominion Realty LP, to negative from stable because the REIT's financial risk profile has...
Mid-Atlantic Regional
August 30, 1999Debt for Philly REITs is rocketingThe Philadelphia Business Journal, August 30 Reflecting a growing national trend, Philadelphia area property assetsare being sold off, stock buyback programs and refinancings arecommonplace, and REIT debt loads have doubled in...
Midwest
August 30, 1999 KC firm selected for Kansas lake resort developmentKansas City Star, August 28KANSAS CITY – CB Richard Ellis Development Team from Kansas City has been selected to develop and manage a resort and convention center planned...
Kennedy-Wilson Named Project Manager for L.A. Office Hi-Rise
August 30, 1999 LOS ANGELES – Bentall Corp. has retained Kennedy-Wilson Properties Ltd. as project manager for 1888 Century Park East, a Los Angeles office building it recently purchased.The unit of Kennedy-Wilson Inc. (NASDAQ:KWIC) has served as property...
Pacific Gulf Pays $3.1 Mln for Arizona Industrial Property
August 30, 1999 NEWPORT BEACH, Calif. – Pacific Gulf Properties Inc. (NYSE:PAG) paid $3.1 million for a 68,000-square-foot distribution facility in Tempe, Ariz.As part of the purchase, Pacific Gulf, a REIT that owns industrial properties, also took over...
Western Regional Digest
August 30, 1999Land condemned for Superior Marketplace valued at $300,000Boulder Daily Camera, August 30BOULDER, Colo. – A Boulder County jury ruled that two acres of land condemned to allow construction of the Superior Marketplace was worth $300,019 ---...
Hike in Construction Costs Forecast for Third Quarter
August 30, 1999 NEW YORK – Construction costs are projected to rise 1.06 percent in the third quarter, according to The Turner Corp. (NYSE:TUR). "The high volume of work continues to drive the market. Material escalation is having...
First Boston, Koll Might Pull Out of Dallas Development
August 30, 1999 DALLAS - Credit Suisse First Boston and Koll Bren Realty Advisors are re-evaluating their plans for Dallas' Republic Towers complex, a three-building office complex that the investment team has already spent $50 million on.The team...
Southcentral Regional Digest
August 30, 1999 Builder plans condos of ChampionsHouston Business Journal, August 30HOUSTON -- Greenwood Properties is preparing to extend its residential reach with construction of a 12-story luxury condominium project in northwest Houston. The development, dubbed Chateau Raveneaux,...
Cornerstone Properties Sells Carolina Building for $89 Mln
August 27, 1999 NEW YORK – Cornerstone Properties Inc. (NYSE:CPP) said it sold Charlotte Plaza to a public pension fund for $89 million, or $145/sf.The 17-year-old office building sits in the central business district of Charlotte. It contains...
Price Tag on Park Land Causes Sticker Shock
August 27, 1999 By Associated PressMONTROSE, Colo. (AP) - Members of Colorado's congressional delegation blasted a developer Wednesday for offering land in the Gunnison National Monument for nearly four times the appraised value. Two of three 40-acre parcels...
European-Backed Investment Firm Seeks U.S. Real Estate
August 27, 1999 DALLAS – A recently formed investment firm that is backed by European investors is planning to buy $75 million of properties in the Dallas, Atlanta, Washington, Houston and Tampa markets over the next two years.The...
Developer To Pay $2 Mln Settlement Charge
August 27, 1999 By Associated PressST. CHARLES, Md. (AP) - A real estate development company accused of illegally filling wetlands while building a Charles County road will pay nearly $2 million to settle the criminal and civil cases...
Immunicon Signs Seven-year Lease at Masons Mill.
August 27, 1999 HUNTINGDON VALLEY, Pa. – Immunicon Corp. has signed a seven-year lease with Woodmount Properties for a 17,000 square-foot facility in Phase 1 of Masons Mill Business Park.Immunicon currently occupies a smaller space in the contiguous...
Norway Says “Whites Only” Is OK in Real Estate Ads
August 27, 1999 By Associated PressOSLO, Norway (AP) - Norway's Supreme Court declared Friday it was legal to use such discriminatory statements as "foreigners unwanted" and "whites only" in real estate listings - a precedent that worries human...
Amresco Taps Trammell Crow to Manage 2.9 Mln sf Portfolio
August 27, 1999 DALLAS – Amresco Inc. (NASDAQ:AMMB) has hired Trammell Crow Co. (NYSE: TCC) to manage and lease a portfolio containing 2.9 million square feet of office space. The portfolio was recently acquired by one of Amresco's...
Southcentral Regional Digest
August 27, 1999 Halliburton sells leafy parcelHouston Chronicle, August 27HOUSTON – A real estate group has purchased a prime parcel of West Belt land that will be the cornerstone of a new major corporate office park called Oak...
AMLI Residential Joint Venture Acquires Atlanta Apartments
August 27, 1999 CHICAGO – AMLI Residential Properties Trust (NYSE: AML) has purchased AMLI at Windward Park, a new 328-unit luxury apartment community in Alpharetta, Georgia.It is the second property purchased under a joint venture previously announced with...
Southeast Regional Digest
August 27, 1999Industrial park gets OK from city councilDaytona Beach News-Journal, August 27DELAND, Fla.– Nuisance businesses will have a welcome place in Volusia County after an envisioned industrial park at the 255-acre Tomoka Landfill was approved, 4-3, by...
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