Wells REIT acquires technology park near BWI
Wells Real Estate Investment Trust II has acquired WestQuest Technology Park, a 315,000-square-foot office complex in Linthicum near Baltimore-Washington International Thurgood Marshall Airport. The complex is leased to defense contractor Northrop Grumman Corp. until 2017.
Financial terms of the sale by WestGroup/ABS Capital were not disclosed. Wells REIT II, a public, nontraded REIT, specializes in office properties.
The complex of two connected five-story buildings was built for Northrop Grumman in 1992.
Lorraine Mirabella
Black & Decker names Mangan senior VP
Towson-based Black & Decker Corp. said yesterday that it had named Michael D. Mangan senior vice president of the corporation and president of the Worldwide Power Tools and Accessories business.
Mangan has served as senior vice president and chief financial officer for eight years. Stephen F. Reeves, vice president of global finance for the company, will succeed Mangan.
Andrea K. Walker
Continental to charge $15 for first bag
DALLAS : Continental Airlines Inc. said yesterday it is charging some coach customers $15 for a first checked bag, matching a similar fee imposed by most other major U.S. carriers. A company spokeswoman said the fee would help offset high fuel costs, which have caused Continental and other carriers to lose money this year. The fee took effect immediately on tickets for travel in the United States and Puerto Rico, the U.S. Virgin Islands and Canada for travel starting Oct. 7 or later. Bags that exceed weight and size restrictions could be subject to additional fees, the airline said. Houston-based Continental said the fee wouldn't apply to elite members of its frequent-flier program, those in first- or business-class seats, customers traveling on full-fare economy tickets, or military personnel and their families traveling on official orders. Most U.S. airlines charge customers who check more than one piece of luggage.
Associated Press
Bankruptcy judge OKs bonuses at Boscov
