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Corrections Corp. wins Calif. prison facility contract; DCT Industrial buys Dallas development sites

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Corrections Corp. wins Calif. prison facility contract; DCT Industrial buys Dallas development sites

This feature rounds uprecent property news from covered companies and highlights larger deal coveragealready published.

* Corrections Corp.of America will house as many as 120 residents at its 120-bed CAI-BostonAvenue residential re-entry facility in San Diego under a new contract with theCalifornia Department of Corrections and Rehabilitation.

The contract will begin Aug. 1 and will continue through June30, 2018, with three one-year renewal options. The company expects the contractto yield revenue of about $4.0 million per year.

* DCT IndustrialTrust Inc. recently acquired 27.4 acres in Dallas, where it plans tobuild two class A, multitenant facilities.

Specifically, the company will develop a 270,000-square-footfacility called DCT MillerRoad on 17.5 acres in the Northeast submarket and an 112,000-square-footfacility called DCT DFW TradeCenter on 9.9 acres in the DFW Airport submarket.

* Preferred ApartmentCommunities Inc. purchased the roughly 301,711-square-foot shopping centerin Forsyth County, Ga., for an undisclosed amount. The company bought the propertyJuly 15 via a subsidiary of its New Market Properties LLC unit, which funded thetransaction with a 10-year, 3.85% first mortgage loan from Protective Life InsuranceCo.

In April, the company closed on its purchase of fee simple interestsin six grocery-anchored shopping centers across three states. The acquired propertiesare Anderson Centraland Fairview Marketin Greenville-Spartanburg, S.C.; RosewoodShopping Center in Columbia, S.C.; East Gate Shopping Center and Fury's Ferry in Augusta, Ga.; and in Birmingham,Ala.

* Winthrop RealtyTrust said that the Hershey Co. signed a lease for about 6,940 squarefeet of retail space and 3,100 square feet of external signage at 701 Seventh Ave.in Manhattan's Times Square. The property, also known as 20 Times Square, is ownedby a Winthrop venture. Cirque du Soleil/NFL Experience is already present at theproject.

* Pennsylvania RealEstate Investment Trust said European fashion retailer Primark openedat Willow Grove Park Mall in the Philadelphia area. Primark is occupying space thatpreviously housed Sears.

* Digital RealtyTrust Inc. sold two data centers: 210 North Tucker Blvd. and 900 Walnut St. in St. Louis, Mo., to NetralityProperties.

Additional coverage:

Md. investors soughtfor MGM Resorts' $1.3B resort casino development: The investment opportunityis open to residents in Prince George's County, Md., and minority business enterprisesin the county and across the state.

Dream Global launchesbought-deal offering to fund German property buy: The company will usepart of the proceeds to redeem the company's 5.5% convertible debentures.

Hines Global REITII wraps up Utah property acquisition: The property comprises four classA buildings in the Salt Lake City submarket.

Bluerock Residentialpicks up 90% stake in Atlanta asset: The mixed-use property contains336 units and ground floor retail space.

JLL Income pays$64.5M for Calif. warehouse portfolio: The portfolio comprises fivebuildings in the Greater Los Angeles submarket.

City Office closes$49.8M Fla. office portfolio acquisition: The company acquired the portfoliovia two joint venture limited partnerships with RP Portfolio.

Regency Centersbuys Seattle shopping center: The company paid $36 million for the property.

Pennsylvania REITinks deals for Pa., NJ property sales: The company is also marketingfor sale another Pennsylvania asset.

Liberty Propertyinks deal with American Water on NJ office development: The planneddevelopment will form part of the company's mixed-use project called The CamdenWaterfront.

KBS Legacy PartnersApartment REIT to test market appetite for 11 properties: The REIT engagedHolliday Fenoglio Fowler to market for sale a 3,039-unit multi-housing portfolio.