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GIBBSTOWN, NJ-The funding, arranged by GMAC Commercial Mortgage, covers a 394,000-sf warehouse/distribution facility that is 100% occupied by a furniture company.
SEATTLE-The first of three buildings that comprise a 162-unit residential-over-retail project at 23rd Avenue South and S. Jackson Street--the largest mixed-use development in the Central Area in the last 30 years--will be ready for occupancy by November, with the remainder coming online in January 2004.
LONDON-Deputy Prime Minister John Prescott has thrown out proposals by Land Securities for a 250,000-sf second phase at the Coppergate shopping centre in York. The developer has promised to go back to the drawing board in a bid to come up with an acceptable scheme.
PLYMOUTH MEETING, PA-With the disposition of Century Village administration building in West Palm Beach, FL and Hillcrest Mall in Phillipsburg, NJ, the locally based trust realizes net proceeds of $8.9 million. In selling these non-core assets, Kramont narrows its focus.
AURORA, CO-The urban center at Fitzsimons will anchor the north end of a 35-acre zone in the life sciences city. With 487 mid-rise residential apartments, restaurants and convenience retail at the street level, it is intended for informal daily encounters among scientist, clinicians, students and visitors.
KUALA LUMPUR-The 450-room Westin Kuala Lumpur is owned by Ireka Corporation Berhad, one of Malaysia's largest construction and development companies. It is the first higher-end hotel to open in Kuala Lumpur in the last six years.
LONDON-Famine relief charity Oxfam is to move its headquarters operation from nine separate buildings in Oxford into a single 85,000-sf building on Arlington Securities' Oxford Business Park.
BOSTON-Roseland Property Co.'s proposal for a 585-unit residential complex at Pier One might be held up if the company doesn't work out a deal with the local pilots. The project still needs its final Chapter 91 license from the Department of Environmental Protection.
TUALATIN, OR-Four appeals to the 680,000-sf Bridgeport Village development are dealt with by the City of Tualatin as Opus Northwest prepares to begin grading work at the 29-acre site next to Interstate 5 in Tualatin.
WASHINGTON, DC-New York's Related Capital Co. and its affiliate, Charter Municipal Mortgage Acceptance Co., reach out to those in need of low-income housing by providing $7 million in financing two housing developments.