PRIME GROUP REALTY TRUST HAS sold a 3.4 million sq. ft. industrial portfolio to CenterPoint Properties Trust for $98.7 million. The purchase price includes the assumption of $38.8 million in debt. The portfolio includes 24 buildings in metro Chicago and Northwest Indiana, including 1455 Sequoia Drive in Aurora, Ill., and three land parcels in DeKalb, Batavia and Aurora.
PANATTONI has broken ground on a 360,000 sq. ft. industrial building in Sumner, Wash. Building 5 will be part of the 85-acre Rainier Park of Industry, which Panattoni launched in 2002.
FAISON ENTERPRISES INC. has sold the 470,000 sq. ft. Alexander Place Promenade in Raleigh, N.C., to Inland Southeast Raleigh Alexander LLC for more than $26 million. Anchored by Wal-Mart Supercenter and Kohl's, the retail development is part of a mixed-use, master-planned community.
THE ALTER GROUP is developing Stone Bridge Corporate Center, a 47-acre, Class-A office park in Manassas, Va. The 550,000 sq. ft. project is designed to accommodate build-to-suit offices ranging in size from 100,000 sq. ft. to 300,000 sq. ft. on sites of five to 40 acres.