ATLANTA-The nation's largest public power company downsizes from 130,000 sf in Nashville's Highland Ridge Tower to 58,400 sf at One Century Place. The 11-year lease is for an estimated aggregate rent of $20 per sf.
ATLANTA-The city lost a motion to dismiss the complaint filed by the local chapter of NAIOP and the Greater Atlanta Home Builders Association. The suit alleges Atlanta is misusing its impact fee revenue from developers.
PHILADELPHIA-Cincinnati's locally based energy supplier buys naming rights to the Downtown Convention Center for $12 million, putting the reduced expansion plan back in play after the airline company backed out of an earlier commitment to hang its name over the door.
PHILADELPHIA-The Minneapolis-based giant retailer Target has paid about $29,993 an acre for 148.7 acres in West Jefferson Commerce Park outside Columbus, OH, to build a 1.35-million-sf distribution center. Area real estate representatives estimate its total cost will exceed $130 million.
PHILADELPHIA-King of Prussia, PA-based O'Neill has sold the one-story, 150,800-sf office building on 15.5 acres in Horsham, PA, for $21.3 million. Built in the 1960s for retail, the property is now anchored by DaimlerChrysler offices.
ATLANTA-The Raleigh, NC-based affiliate of CBRE appoints D. Edward Pulliam senior vice president of leasing. He was previously vice president of leasing for Daniel Corp.'s Mid-Atlantic region and a senior marketing rep for Raleigh-based Highwoods Properties for 14 years.
PHILADELPHIA-Three soon-to-be vacated Ames Department Stores at shopping centers in Eastern Pennsylvania are being marketed for lease by the centers' owner, Lakewood, NJ-based Lightstone Group. The properties are in Shamokin, Stroudsburg and Lewisburg and range from 53,000 sf to 61,489 sf.
ATLANTA-The locally based REIT hires 16-year industry veteran Steve Yenser to head retail leasing. Yenser leaves his post as senior vice president of asset management, Eastern region, at Chicago-based General Growth Properties.
PHILADELPHIA-Following the resignation of Louis Vogt as president and the assumption of that role by CEO Jeffrey Friedman, the Richmond Heights, OH-based REIT has announced the loss of management responsibilities for 11 client-owned properties and will now shift executive duties.
ATLANTA-The locally based company paid $12.38 per sf for the defunct retail chain's former 597,546-sf corporate offices on 40 acres at 245 Great Circle Road., in the Nashville MetroCenter business park. Hodges has started a $2.7-million renovation.