The sale price was not disclosed, but because of encumbrancesheld on the land by others and ground leases that are to be boughtout by Schnitzer, the actual cost of the land transfer will be"very much north" of the figure reflected in the recenttransaction, according to Tochterman Management director ConnieGrant.
In other activity, Seattle-based Magnolia Hi-Fi, Inc. sold its13 area audio-video stores – and their $100-million annual sales --to national retailer Minneapolis-based Best Buy Inc. for$87-million. Magnolia will continue to operate the stores as awholly-owned subsidiary, with Jim Tweten continuing as president,and Thomas Conrad will staying on as senior vice president andCOO.
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