MBK NORTHWEST has sold the 590,000 sq. ft. power center component of Lakewood Towne Center in Lakewood, Wash., for $81.1 million. Inland Real Estate Acquisitions Inc. was the buyer. Lakewood Towne Center, a 1 million sq. ft. open-air center, also includes three other components: a neighborhood retail center, an entertainment center and a civic center.
US REAL ESTATE LIMITED PARTNERSHIP , an affiliate of USAA Real Estate Co., and Trammell Crow Co. have joined forces to develop a 960,000 sq. ft. industrial building in Carlisle, Pa. Trammell Crow put the property under contract and procured the entitlements to develop the site, while US Real Estate is acquiring the property. Trammell Crow will be responsible for development and leasing activity on the site, which is near Interstate 81.
THE 262-ROOM REDMOND MARRIOTT TOWN CENTER HOTEL has opened at the Redmond Town Center in Redmond, Wash. The center is an open-air, mixed-use complex owned by The Macerich Co. and Pacific Premier Retail Trust. Set on 120 acres, Redmond Town Center totals 1.28 million sq. ft. of leasable area and includes such retailers as BON-Macy's, Bed, Bath & Beyond and Borders Books.