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Real Estate

May 28, 2003

$148 Million Mall Sale Is Largest TIC

BY MICHAEL GOTTLIEb CREJ Assignment Editor Commercial real estate industry observers say a fundamental shift in the way real estate is owned and traded occurred with the $148 million sale of the Puente Hills Mall in the City of Industry May 14. The 1.2-million-square-foot mall's purchase from The Krausz Cos. , represents the largest tenant-in-common 1031 exchange transaction in the history of the relatively new investment vehicle.

BY MICHAEL GOTTLIEb
CREJ Assignment Editor

Commercial real estate industry observers say a fundamental shift in the way real estate is owned and traded occurred with the $148 million sale of the Puente Hills Mall in the City of Industry May 14. The 1.2-million-square-foot mall's purchase from The Krausz Cos., represents the largest tenant-in-common 1031 exchange transaction in the history of the relatively new investment vehicle.

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