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COMMERCIAL REAL ESTATE: A look at the people, trends
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Deals

March 10, 1998

Charleston, S.C.-based Golf Trust of America Inc. has purchased the ocean-front Sandpiper Golf Course, an 18-hole facility near Santa Barbara, for $36.5 million. The high-end course will be leased to an affiliate of Environmental Golf and an affiliate of the owner of the adjacent 400-room Santa Barbara Club Resort & Spa, in a joint venture.

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New Jersey-based housewares chain Bed Bath & Beyond has signed a 10-year, $5.2-million lease for 40,000 square feet of retail space in Pasadena's Hastings Village shopping center at the northwest corner of Foothill Boulevard and Halstead Street. The store, currently under construction, is expected to open in late 1998, according to Nancy Williams of Grubb & Ellis, which represented Bed Bath & Beyond in the transaction.

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Hollywood Center Studios, a studio rental company, has paid approximately $4 million to acquire a 3-acre parcel from the City of Los Angeles for corporate expansion. The company purchased property on Romaine Street, immediately north of its headquarters on Las Palmas Avenue.

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