Staff and Wire Reports

The Abbey Co. has purchased Catalina Landing, four office buildings in downtown Long Beach, Calif., and the only waterfront office complex in the city. The purchase price was undisclosed...

Crown American Realty Trust remains a retail REIT underdog in spite of gains in occupancy, funds from operations (FFO) and same-center net operating income (SSNOI) for second quarter 2002. With a portfolio of more...

Though sales are still straggling at Sears, the company managed to beat earnings estimates for second quarter 2002. The Hoffman Estates, Ill.-based retailer’s total revenues declined 0.4% to $10.1 billion, driven...

Oak Brook, Ill.-based Inland Real Estate Acquisitions Inc. has purchased three office buildings in Celebration, Fla., through a sale-leaseback transaction with The Walt Disney World Co. Terms of the deal were not...

Same-store sales took a decided upturn in June, a phenomenon Wall Street analysts say will prove beneficial to retail REITs. Median same-store sales for the month were up 4%. "Given the better than expected same-store...

Loan delinquencies in the commercial real estate market are running well below levels in the late 1980s, according to data from the American Council of Life Insurers. Specifically, retail delinquencies are 77% lower...

Whirpool Corp. has selected Chicago-based Jones Lang LaSalle to provide property management services for 8 million sq. ft. of new distribution centers worldwide and facilities management services for 1.1 million sq...

West Coast developer/owner/manager Center Trust joins the Russell 3000 Index this month. The Manhattan Beach, Calif.-based REIT ranked No. 54 on Shopping Center World’s ranking of top owners for 2002 with a portfolio...