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Terreno Realty Buys Washington, D.C., Industrial Property for $115.5M

Terreno Realty Buys Washington, D.C., Industrial Property for $115.5M

WASHINGTON, D.C. – Terreno Realty Corporation (NYSE:TRNO) has acquired an 820,000-square-foot industrial property in Washington, D.C., for $115.5 million. The 28.2-acre property is located at 3015-3535 V Street. The facility is situated one block from New York Avenue/Route 50, in the northeastern section of the District of Columbia. It is also near the Amtrak Northeast Corridor, the U.S. National Arboretum and the Anacostia River. Notable tenants in the area include Anchor Construction Corp. and Premium Distributors. The industrial facility includes 102 dock-high and eight grade-level loading positions, as well as parking for 470 cars. It is currently 87 percent leased to 22 tenants. The seller was not named. Terreno was..

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Decron Properties Sells Shopping Center Portfolio in Southern California for $108.5M

Decron Properties Sells Shopping Center Portfolio in Southern California for $108.5M

LOS ANGELES — Decron Properties Corp., a private, family-owned and operated real estate company based in Los Angeles, has sold a three-property portfolio comprised of neighborhood shopping centers located in Southern California markets. The gross sales price was $108.5 million. The portfolio consisted of grocery- and drugstore-anchored assets totaling 370,453 square feet. Properties included Mission Foothill Plaza located at 28721-28841 Los Alisos Blvd. in Mission Viejo; Park Oaks, located at 1640-1970 N. Moorpark Road in Thousand Oaks; and Ontario Plaza, located at 920-1070 N. Mountain Ave. in Ontario. Bill Bauman, executive vice president, and Kyle Miller, corporate managing director, of Savills Studley represented the seller in..

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Business Tycoon Ted Turner Reflects on His Successes, Sacrifices at Annual Buckhead Coalition Luncheon

Business Tycoon Ted Turner Reflects on His Successes, Sacrifices at Annual Buckhead Coalition Luncheon

ATLANTA — Billionaire entrepreneur and legendary media mogul Ted Turner, who along with Coca-Cola and Delta Airlines helped put Atlanta on the map, captivated a packed house at restaurant 103 West on Wednesday afternoon during the annual luncheon of the Buckhead Coalition. Business and political leaders from across Atlanta and Fulton County gathered to hear the 76-year-old, straight-talking Turner reflect on his life and career during a one-on-one interview with Sam Massell, president of the Buckhead Coalition and former mayor of Atlanta from 1970-74. Turner didn’t disappoint. He and Massell bantered back and forth for 20 minutes, leaving the audience hungry for more. The Background Turner began his career as an account..

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Rite Aid to Build New $90M Distribution Center in Spartanburg, S.C.

Rite Aid to Build New $90M Distribution Center in Spartanburg, S.C.

SPARTANBURG, S.C. — Rite Aid Corp. (NYSE: RAD) plans to build a 900,000-square-foot distribution center in Spartanburg, S.C. The $90 million project will be Rite Aid’s first new distribution facility in 15 years. “Spartanburg is an ideal location for our new distribution center,” says John Standley, Rite Aid chairman and CEO. “We thank the state of South Carolina for its cooperation and support during our site selection process and we look forward to breaking ground on our new facility, which will help us to further optimize our supply chain and better serve our stores and customers across the Southeast.” Rite Aid is working with Johnson Development Associates, a leading real estate development firm based in Spartanburg,..

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