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BLOOMINGTON, MN-Standard & Poor's is not changing its outlook on the quality of the mortgage debt now, but worries what will happen if the Ghermezians take over the mall from Simon Property Group.
PHOENIX-Work begins in 2004 on North America's largest design-build water treatment facility on 225 acres near Lake Pleasant. At the 2007 completion, the plant will provide 80 million gallons of water daily to 400,000 homes in the metro's northwest suburbs.
GLENDALE, AZ-The 112-unit complex's quality, high occupancy and positive returns brought at least five buyers into the bidding, but it was a Chicago man who took the deed with an offer just short of the $5.2-million asking price.
SUNNY ISLES BEACH, FL-The city has approved the $240 million, 248-unit Jade Beach tower. Colonial Bank is providing the $17 million land loan. The project's sales center is set to open this fall.
BETHLEHEM, PA-Following construction of a 200,000-sf facility in Northgate II, the company will relocate its headquarters from an 80,000-sf owned property, but continue to occupy that building with staff now in leased space.
ORANGE COUNTY, CA-The fast-growing Space Launch technology firm and an equipment leasing company called Capitalwerks LLC sign leases in separate deals involving an office building in Irvine and another facility in Santa Ana.
SAN LEANDRO, CA-The ailing enclosed mall, anchored by Macy's and Target, is a value-add play for Washington, DC-based Madison Marquette, which plans to spend another $30 million to attract new tenants and, ultimately, an institutional buyer.
AURORA, CO-The 466,106-sf class-A shopping center is 100% leased, with major tenants including King Soopers (subsidiary of Kroger), Kohl's, Borders Books and Old Navy.
LONDON-Software group BEA Systems has regeared its holdings on the Kingsmead Business Park in High Wycombe, Buckinghamshire. It has a new over-riding lease on the 41,954-sf Windsor Court at pounds 1.06 million ($1.765 million) per annum.