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.
ATLANTA-The Charlotte-based developer joins Cincinnati, OH-based Robert Rhein Interests in a 470-acre planned community that will include a 240-acre business park, 30-acre retail village, 40-acre multifamily complex and up to 700 Rhein-built single-family homes adjacent the 2,000-acre Ballantyne development.
ATLANTA-The Charlotte-based real estate company has hired Cathleen Hardman from Aurora, CO-based ProLogis to provide strategic planning and compliance services for all federal, state and local taxation issues for the company's $700-million portfolio.
PHILADELPHIA-The Long Island-based UPREIT pays an average $82.40 per sf for two Giant Eagle grocery-anchored centers in Cleveland and one in Columbus anchored by a Big Bear Supermarket. The seller is Pepper Pike, OH-based Visconsi Companies.
ATLANTA-The Charlotte-based UPREIT pays Newark, NJ-based Prudential Insurance Co. $66,551.72 per unit for the 290-unit complex on Lake Norman in Cornelius, NC. The facility was completed in 1996 and is 95% leased at an average rental of $835 a month.
ATLANTA-With the signing, locally based Creditor Resources takes the two-building Perimeter 400, class-A office facility to 98% occupancy. Local area brokers tell GlobeSt.com the estimated aggregate value of the five-year lease is $3.54 million. The average quoted rent is $21 per sf.
PHILADELPHIA-Although it has failed to negotiate new terms with the carpenters union in an attempt to eliminate labor problems that have plagued the Convention Center, the center's authority heads for Harrisburg with a last-minute plea for $232 million for expansion.
ATLANTA-Funds averaging $56,470 per unit are awarded to the contracting division of Charlotte-based Crosland Inc. for development of Kimberly Park II, a 170-unit affordable housing project on 17 acres, or about four city blocks in Winston-Salem, NC.
ATLANTA-Seven separate leases, valued at an estimated $8.22 million and ranging from 12,700 sf to 2,800 sf, are filling the 21-story, 560,000-sf, class-A building in Buckhead that was completed late last year by New York-based Trizec Properties Inc. Average rental rates range from $26.90 to $28.12 per sf.
PHILADELPHIA-The Largo, FL-based drug store chain leases a 415,000-sf, single-story building at Penn Warner Industrial Park in Fairless Hill, PA previously occupied by Toys R Us. Owner Equity Industrial Properties is retrofitting the space for Eckerd's November move-in.