REAL ESTATE

CBL names board member

BY CSA STAFF

Chattanooga, Tenn. CBL & Associates Properties announced Wednesday the appointment of Thomas DeRosa to its board of directors.

DeRosa fills the vacancy resulting from the death in February 2010 of Claude M. Ballard who served as a member of CBL’s board of directors since the company’s initial public offering in 1993.

DeRosa is former vice chairman and CFO of The Rouse Co., and is currently a director of health care REIT, a NYSE-listed REIT focused on senior housing and healthcare real estate. He also serves as a director of Dover Corp., a NYSE-listed global provider of equipment, specialty systems and services for various industrial and commercial markets and as a director of Value Retail PLC, a private U.K. owner, operator and developer of high-fashion outlet shopping villages in Europe.

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REAL ESTATE

Massive industrial park in Maryland to be sold at foreclosure

BY CSA STAFF

Baltimore A Carroll County industrial park near Baltimore is slated to be sold later this month after its owner allegedly defaulted on the $13 million loan it borrowed to buy the 147-acre property, according to the Baltimore Business Journal.

Alex Cooper Auctioneers has scheduled a May 20 sale of the 900,000-sq.-ft. Hampstead Industrial Center, where Jos. A. Bank Clothiers, Stanley Black & Decker and Solo Cup Co. lease space.

The park’s owner is a subsidiary of San Francisco-based BTR Capital Management, which bought the 20-building complex in 2005 for $16 million. BTR Hampstead LLC borrowed $13.2 million from Ixis Real Estate Capital of New York to finance that purchase.

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Hhgregg opens six Baltimore-area stores

BY CSA STAFF

Indianapolis Electronics retailer Hhgregg said Monday it will open six new stores in the Baltimore area on May 6.

The new stores are located in Hanover; Annapolis; Catonsville; Bel Air; Towson; and Glen Burnie, Md.

“We are excited to expand our footprint in the state of Maryland by opening our first Baltimore-area stores,” said Jeff Pearson, VP marketing, Hhgregg.

Each store will be about 30,000 sq. ft. The company currently operates 145 stores in Alabama; Florida; Georgia; Indiana; Kentucky; Maryland; Mississippi; North Carolina; Ohio; South Carolina; Tennessee; Pennsylvania; and Virginia.

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