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MIAMI-Brookwood Biscayne Tower Investors LLC paid $43.5 million, or $159.77 per sf, for New World Tower here. The 272,267 rentable-sf, 72%-leased building includes a 12-story parking garage. The property's tenant roster includes numerous telecommunications companies.
CHICAGO-Real estate deals involving office properties Downtown, as well as west suburban Bellwood and southwest suburban Joliet, are part of the 22-count indictment against former Governor and Illinois Secretary of State George H. Ryan Sr. as announced by US Attorney Patrick J. Fitzgerald.
DENVER-The new seniors community will offer market-rate units for the spectrum of seniors, from those without medical assistance needs to those who skilled care.
WINTER HAVEN, FL-Kent Buescher, owner-operator of Wild Adventures in Valdosta, GA, contracts to pay Washington, DC-based Trust For Public Land $7 million for 120 acres in the 150-acre shuttered park. Polk County and the city are buying the remaining 30 acres for $2.5 million.
TOLLESON, AZ-London Land Co., paying $1.4 million for the acreage, will start courting fast-food franchises and retail developers for the northwest corner of 99th Avenue and Buckeye Road. Seller JCPenney had the property on the market for six years.
CHICAGO-In exchange for permission to build up to 1.5 million sf on two acres along the Kennedy Expressway between Madison and Monroe streets, MR Properties, LLC will now have to pay $20 million for the land.
PHILADELPHIA-With lease signatures from University of Pennsylvania's public radio station and Real Entertainment Group, Dranoff Properties' $15-million conversion of the historic 40,000-sf Hajoca Building begins.
MIAMI-The law firm, in a relocation from the Bank of America Tower here, is taking 45,000 sf of class A space in the new building for 10 years beginning Sept. 1, 2004.