RECENT NEWS
CBL & Associates Sells Four Retail Properties for $30 Mln
July 20, 1999 CHATTANOOGA, Tenn. – CBL & Associates Properties, Inc. (NYSE:CBL) sold four assets, including two department stores and two free-standing properties, for approximately $30 million.The sale includes a store currently leased by Dillard's at Hamilton Place...
RioCan Declares Monthly Distribution of 8.75 cents
July 20, 1999TORONTO –RioCan Real Estate Investment Trust (TSE:REI.UN.) increased its monthly distribution to 8.75 cents per unit, payable Aug. 6 to unitholders of record July 31.RioCan's policy is to adjust its monthly distributions at the end of...
Former Northrop Site in Thousand Oaks, Calif. Becomes $50 Million Office-Industrial Park
July 20, 1999 THOUSAND OAKS, Calif. – Two Los Angeles-based developers start construction this month on the $50 million Conejo Spectrum, which is rising on a 100-acre site formerly occupied by Northrop Grumman. The park is located in...
Prudential to Sell Gateway Complex in Newark, N.J.
July 20, 1999NEWARK, N.J.– Prudential Insurance Co. of America said it has agreed to sell three office buildings in Newark's Gateway office complex to a venture involving Morgan Stanley Real Estate Funds, Gale & Wentworth, Tishman Speyer and...
Pa. Convention Center Expansion Moving Ahead
July 20, 1999PHILADELPHIA (AP) – Three architectural firms have been hired to begin schematic drawings to expand the Pennsylvania Convention Center's 1.3-million-square foot facility. The Vitetta Group of Philadelphia and the Atlanta-based Thompson, Ventulet & Stainback signed on...
Eastgroup Acquires Properties in Arizona and California for $12 Million
July 20, 1999 JACKSON, Miss. – EastGroup Properties (NYSE: EGP) said it paid $7.4 million for the Yosemite Distribution Center (102,000 square feet) in Milpitas, Calif., and $4.8 million for the Interstate Commons Distribution Center (136,000 square feet)...
South Central Regional Digest
July 20, 1999 Enron near deal to rescue convention center hotel projectHouston Business Journal, July 20HOUSTON—Enron Corp. is very close to signing a deal with Crescent Real Estate Equities Inc. that could financially rescue the long-delayed convention center...
Boddie-Noell Properties Declares Unchanged Dividend
July 20, 1999 CHARLOTTE, N.C. -- Boddie-Noell Properties, Inc. (Amex: BNP), a Charlotte-based real estate investment trust, declared a regular quarterly dividend of $0.31 a share, to be paid Aug. 17 to shareholders of record as of Aug....
Mid-Atlantic Regional Digest, July 20
July 20, 1999Developers seek rezoning for Winston-Salem area shopping center The Winston-Salem Journal, July 20WINSTON-SALEM -- Azur U.S. Inc. and Kelley Properties Inc. are asking the City-County Planning Board to rezone 50 acres along Hanes Mill Road to...
Northeast Regional Digest, July 20
July 20, 1999Mayor vows support for Turnpike offrampThe Boston Globe, July 20BOSTON – City officials are looking at options for a new Massachusetts Turnpike offramp to connect the city's Back Bay hotels with South Boston waterfront development now...
BancBoston Robertson Stephens Analysts Predict 2nd Qtr Industry Earnings Up 10-11 Percent
July 19, 1999 SAN FRANCISCO – BancBoston Robertson Stephens said its senior real estate analysts, Jay P. Leupp and Robert L. Levy, are predicting a stable environment and strong performance for the commercial real estate industry's second quarter...
New Plan Excel Realty Trust Issues $175 million In Unsecured Notes
July 19, 1999 NEW YORK--New Plan Excel Realty Trust, Inc. (NYSE:NXL) announced two note issues totaling $175 million.The first consists of $150 million of unsecured, 10-year fixed rate notes with a coupon of 7.4%. Underwriters are Salomon Smith...
Duke-Weeks Adds 248-Acre Emerald Valley Property To Its Holdings
July 19, 1999 CLEVELAND -- Duke-Weeks Realty Corp. said that it expanded its Cleveland area holdings with the addition last week of a 248-acre Emerald Valley industrial park property. Located outside the Village of Glenwillow, near Cleveland, the...
St. Joe Gets Okay for Florida Development
July 19, 1999JACKSONVILLE, Fla.– The St. Joe Co. (NYSE:JOE) said the Walton County, Florida, Board of County Commissioners approved the first phase of St. Joe's proposed resort and residential community, WaterColor, located on the Gulf of Mexico in...
Duke-Weeks Plans Spec Development in Tampa, Orlando
July 19, 1999 INDIANAPOLIS – Duke-Weeks Realty Corp. said it has started building a speculative office building in eastern Tampa and a distribution facility in Orlando, Fla.The office building, Highland Oaks II will contain 125,000 square feet. It...
CarrAmerica Sets Earnings Release, Conference Call For Aug. 6
July 19, 1999 WASHINGTON -- CarrAmerica Realty Corp. (NYSE: CRE) said it will release second quarter earnings on Friday, Aug. 6, prior to market opening. CarrAmerica will conduct a conference call to discuss the second quarter the same...
Mid-Atlantic Regional Digest, July 19
July 19, 1999Fidelity Bond & Mortgage files for Chapter 11Philadelphia Business Journal, July 19BLUE BELL, Pa. – A mortgage banking operation that Republic First Bancorp Inc. bought into in May 1998 and wrote off as a loss within...
Archstone Completes $100 Mln Share Buyback
July 19, 1999 DENVER – Archstone Communities (NYSE: ASN) said it has completed its $100 million share repurchase program.The company repurchased 5.04 million of its common shares at an average price of $19.78 per share. Archstone has 139.21...
Southeast Regional Digest, July 19
July 19, 1999 Huge one-story office site proposedTriangle Business Journal, July 19DURHAM – Hamilton Merritt Co. has started construction on a 120,000-square-foot office building that will be the largest single-story office building- ever built in the Research Triangle...
Boston Health Firm Buys Logan Outpatient Center
July 19, 1999HINGHAM, Mass. – Occupational Health & Retirement Inc. announced today that it has acquired the Logan International Health Center from the East Boston Neighborhood Health Center Corp. "The center is an outpatient service, and the beauty...
Midwest Regional Digest, July 19
July 19, 1999 Siemens, Navistar plan S.C. plantThe Detroit News, July 17AUBURN HILLS, Mich. – Siemens Automotive will team with truck manufacturer Navistar International to build a $100-million plant in Richland County, S.C., that will employ up to...
Canadian Regional Digest, July 19
July 19, 1999 Booming builders: Broccolini construction is on track for first $100-million yearMontreal Gazette, July 19 MONTREAL – Fifty years being founded by Italian immigrant who began building cottages around Montreal, Broccolini Construction is on pace to...
Northeast Regional Digest, July 19
July 19, 1999 For Thompson Street, a new boutique hotel New York Times, July 18NEW YORK – Another boutique hotel is rising — the $25 million, 12-story hostelry called 60 Thompson, named after its address between Spring and...
Bedford Property Investors Announces $24 Mln of New Acquisitions in Western States
July 19, 1999 LAFAYETTE, Calif. -- Bedford Property Investors, Inc. (NYSE: BED) announced five new acquisitions. In Arizona, the Company purchased two properties: --On June 4, 1999, a new single story, 57,913 square foot back office building was...
First Industrial to Develop 1.3 Mln /sf of Projects For Tenneco and Tractor Supply
July 19, 1999 CHICAGO—First Industrial Realty Trust, Inc. (NYSE: FR) said it won two major contracts for build-to-suit development projects. Combined, the projects total 1.3 million square feet, representing a total investment of $33.3 million. The companies that...
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