Dana Warp Mill Sold

PPH:

The Dana Warp Mill was sold at auction this morning to the real estate investor
who took over the loan on the building last month. Sasa Cook, the sole bidder at
the auction held at the mill, bought the 250,000-square-foot building for $2.5
million. He said he expects to close this week. Former owner Tim Flannery
defaulted on his mortgage in September, and Bank of America placed the building
into receivership. Since them, CB Richard Ellis/Boulos Property Management has
been managing the building and will continue to do so.

- John C.L. Morgan