Two Las Vegas buildings sell for $30M

A joint venture between CIP Real Estate and Buchanan Street Partners has sold two office buildings in Las Vegas, Nev., for a price of $30.2 million.

The properties, which were both fully occupied by Credit One Bank N.A. at the time of sale, are located within the Hughes Airport Center, a 3.3 million-square-foot business park.  more...

Pa. shopping center purchased for redevelopment

Walnut Street Capital has paid $12.4 million to purchase a shopping center in Warminster, Pa., and plans more than $5 million in renovations, according to a press statement released today.

Warminster Plaza, sold by Warminster Group LP, comprises 120,388 square feet and is located at 654 York Road.

The new owners are planning new storefronts, parking lots, landscaping and the addition of in-line square footage along with pad sites to give the center a picturesque feel reminiscent of a main-street setting, according to the press statement.

Inland affiliate buys Houghton Mifflin facility

Educational textbook publisher Houghton Mifflin Co. recently sold and leased back a 513,512-square-foot distribution facility in Geneva, Ill., for $25.8 million.

Inland Real Estate Acquisitions purchased the 25-acre property, and Houghton Mifflin will lease the property through 2019.

The transaction is the second property Inland Real Estate Acquisitions has purchased in recent years in the educational industry -- a sector with special significance for the Inland group, as all four of its founders were teachers before they began their careers in real estate.