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DALLAS-Harvest Partners is negotiating the final piece of the plan for Park Lane Place, a 700,000-sf project with new retail, 300 to 450 residential units and redeveloped office space that will neighbor NorthPark Mall. As the plan gels, the retail team is hired.
CHICAGO-Mark Rose moves up from chief financial officer to become chief operating officer for the Americas region while Bruce Westwood-Booth joins the company as SVP of the capital markets group.
PHILADELPHIA-Although average CBD asking rates inched up to $26.38 per sf in the third quarter, according to C&W research, the average effective rate on a 10-year, full-floor, class A lease is in the low $20s per sf.
MIAMI-Woolbright Pembroke Ltd., controlled by Woolbright Development Inc., paid about $112.75 per sf to a limited liability company controlled by Schiff-Turnberry Properties for the 211,969-sf center here. Built in 1984, the center recevied a major renovation in 1993 after Hurricane Andrew.
HOUSTON-Weingarten Realty Investors spent $73 million on four shopping centers in Texas, Colorado, Georgia and Florida. The purchase marks Weingarten's first retail venture in the Atlanta area.
MIAMI-Rodrigo Nino, former vice president of development sales for Fortune International, founded Prodigy International Development Sales. He is experienced at selling and marketing luxury high-rise condominium projects. He plans on representing $500 million in residential real estate.
HOUSTON-Construction debt has been retired at the Center at Fuqua, 103,282-sf shopping center, and replaced with a $10.2 million loan from GE Asset Management.
DORCHESTER, MA-The broker involved says that this is one of the highest mortgages per sf for a free-standing supermarket in the region. The recently completed Shaw's Supermarket totals 44,200 sf.