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Company Description

Contact Info

2810 Spring Road

Suite 106

Atlanta, GA 30339

United States

Phone: 770-433-9400

Fax:

EQK Realty Investors I operates a regional mall, Harrisburg East Mall, located in Harrisburg, Pennsylvania. The company qualified for and elected real estate investment trust status under the applicable provisions of the Internal Revenue Code. Lend Lease Portfolio Management, Inc serves as the ‘Advisor’ to the Trust. Jones Lang LaSalle Management Services, Inc., an affiliate of LaSalle Partners Incorporated, serves as the ‘Property Manager’ for the Trust's sole remaining asset, Harrisburg East Mall (the Mall). The Advisor is a wholly owned subsidiary of Lend Lease Real Estate Investments, Inc. Harrisburg East Mall Disposition Plan Management commenced marketing and sales activities relating to the Mall during the second quarter of 1998, which included the retention of an outside broker. On March 5, 1999, the Trust announced that it has entered into a non-binding letter of intent to sell the Mall to a private real estate group. The Trust has completed the disposition of two of its three real estate investments. The office buildings comprising Peachtree were sold in three separate transactions in 1992 and 1993. Two of the office buildings at Castleton were sold in 1991. The remaining office buildings at Castleton were sold in 1995. The Trust's remaining real estate investment is a regional mall located in Harrisburg, Pennsylvania. Harrisburg East Mall The Mall is located in Dauphin County, Pennsylvania, near the intersection of Paxton Street (U.S. Route 322) and Interstate 83. At December 31, 1998, the Mall had 82 in-line mall and outparcel tenants (excluding anchor store tenants) occupying approximately 284,000 square feet of gross leasable area Other than the anchor store spaces, which are occupied by JC Penney, Hecht's and Lord & Taylor, only Toys 'R' Us, which occupies approximately 45,950 square feet of space as the anchor tenant in the Mall's outparcel building, occupies more than five percent of the gross leasable area of the Mall. Other than The Limited Inc., which operates seven stores at the Mall and which contributed 14.2% of the Mall's 1998 rental revenues, no other tenants, or group of affiliated tenants, contribute more than 10% to the Mall's total rental revenues. Competition Primary competition for the Mall consists of three regional centers located in the Harrisburg trade area: Colonial Park Mall, Capital City Mall, and Camp Hill Shopping Center. In May 2000, EQK Realty Investors I entered into a purchase and sale agreement with Uni-Invest (U.S.A.) Partnership, L.P. to sell the Harrisburg East Mall, the sole remaining real estate asset of EQK, which filed a voluntary petition in the United States Bankruptcy Court in December 1999, to Uni-Invest. History EQK Realty Investors I was founded in 1985.

 

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