ATLANTA-The Greenwich, CT-based firm is expanding its existing one-million-sf distribution center in Palmetto, GA with a 10-year lease at an estimated rent of $4 per sf. The contract is believed to be the largest industrial leasing deal done this year in Georgia, area brokers tell GlobeSt.com.
PHILADELPHIA-During four years of litigation, Vail, CO-based Booth Creek Holdings withdrew its offer of $88.5 million to purchase the Champion, PA-based Seven Springs Resort. Yesterday, the Pennsylvania Supreme Court
PHILADELPHIA-Under three different programs, the US Department of Housing and Urban Development grants $2.955 million to Wilkes-Barre, PA for homeless shelters, libraries, vocational rehab centers and office tenant recruitment efforts.
PHILADELPHIA-Plymouth Meeting, PA-based Kramont Realty Trust fills a vacated Acme Supermarket space in Doylestown, PA to Kohl's Department Store. The lease with the Menomonee Falls, WI-based retailer, which involves a 30,000-sf expansion of the retail center, brings occupancy to 100%.
PHILADELPHIA-A 1.59-million-sf distribution facility in Carlisle, PA is one of five regional properties in a newly created national distribution network formed by Aurora CO-based ProLogis and Greenwich, CT-based Unilever Home & Personal Care, North America. Owner ProLogis leases the properties.
ATLANTA-Area brokers familiar with the Downtown submarket tell GlobeSt.com on condition of anonymity the leases are for an estimated 10 years at quoted rents of $22 per sf with a combined estimated value of $50.6 million, making the deal among the largest to date in metro Atlanta.
PHILADELPHIA-The manufacturer/retailer of maternity apparel expands, moving some of its Downtown operation into a 70,318-sf existing structure on the 1,000-acre center under development by the Philadelphia Industrial Development Corp.
ATLANTA-With $135 million on hand, the Irving, TX-based REIT pays Lowe Enterprises of Los Angeles $69,712 per unit for the 18-year-old, 208-suit property six miles from Downtown Charlotte. FelCor plans to invest another $3.6 million to convert the hotel to its original Doubletree brand.
PHILADELPHIA-The oldest African-American-owned and developed shopping center in the US is slated for an upgrade and expansion. King of Prussia, PA-based Kravco's Downtown Works will handle the redevelopment.
ATLANTA-In preparation for a move to a leased 511,000-sf distribution center in Braselton, GA, locally based Haverty Furniture Companies sells its 204,040-sf property to Atlanta-based Hanover Acquisition Group for $4.4 million and leases it back through December.