ATLANTA-Continuing its march through the Southeast, Oak Brook, IL-based Inland Retail Real Estate Trust adds the newly constructed, grocery-anchored center in Jamestown, NC to its portfolio for $6.64 million. It holds an 18-month master lease on the 85%-occupied shopping center.
PHILADELPHIA-The Cleveland, OH-based global paint and decorating industry giant renews and expands its lease at the corporate center in Malvern, PA, making it the company's northeast headquarters. According to published
ATLANTA-The locally based firm names Kent LaRoque to head operations. LaRoque brings 30 years of tech-industry and business operations experience to the post.
PHILADELPHIA-Following an attempt to dissuade Hershey Trust from selling its shares of Hershey Foods, Attorney General Ron Fisher asks a state court to issue a restraining order delaying the sale. Meanwhile, reports of an $11.5-billion Nestle bid circulate widely.
PHILADELPHIA-Locally based Berwind Property Group begins two buildings in the 340-acre center in Collegeville, PA, 100% pre-leased to Madison, NJ-based Wyeth Pharmaceuticals. BPG plans an additional 275,000-sf of class-A office space in the center as 32,000-sf One Providence reaches completion.
ATLANTA-The Charlotte-based architectural firm replaces Vernon Brannon, acting chief financial officer, with the permanent appointment of William S. Shropshire Jr. He comes from Dyersburg Corp., also in Charlotte. Brannon returns to operations at HLM.
ATLANTA-Joe Pangburn is promoted to director of development/build-to-suits. Jef Gilder is director of structured transactions. They joint Tom Hallowell who heads the sale/leasebacks sector of the locally based firm.
PHILADELPHIA-The Clean Ohio Fund dispenses grants for the purchase of approximately 500 acres of wetlands and wildlife habitats in seven locations in central Ohio. Prices range from $1,000 per acre in Prairie Township to nearly $120,000 an acre in New Albany.
ATLANTA-Locally based Richard Bowers & Co. hires T. Randall Hoye as vice president and associate broker. Hoye was formerly with Regent Partners and Cousins Properties, both Atlanta companies. Hoye will handle office and industrial clients.
PHILADELPHIA-The local chapter of the United Brotherhood of Carpenters and Joiners rejects a recommendation by the Pennsylvania Convention Center Authority to merge six unions that work at the center into three. The move threatens support for the center's expansion.