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SAN DIEGO-Centre City Development Corp.'s board of directors recommends the approval of a series of new bonds in an amount not to exceed $20 million and also gives the green light on several project budgets.
FORT LAUDERDALE-Cornerstone Premier Communities is planning to demolish three motels to make room for the two-building, 156-unit, luxury oceanfront condominium community in Fort Lauderdale Beach. Occupancy is anticipated in the fall of 2004.
PHOENIX-Tucson climbs five spots to 17 in the national ranking while Phoenix edges up six spots to the 18th spot. Employment growth, albeit moderate, and decline in retail construction, save for pre-leased properties, account for the improved outlook.
PHOENIX-Beth Randall, Nate Pattee and Brad Libey will be responsible start-to-finish oversight for building jobs in the Valley. Their handiwork can be seen at Hamstra Square, Prescott Lakes Athletic Club and Wells Fargo Octotillo Corporate Center.
DETROIT-The metro area retail market dropped in NRI ranking to 36 out of 38, slipping six spots from the previous year, though the area's vacancy rate is one of lowest in Midwest. Marcus and Millichap attributes it to higher unemployment and a vacancy increase but say investor demand remains strong.
JACKSONVILLE, FL-Beach Center LLC paid New Vision Properties $3 million or $85.23 per sf for the 100%-occupied, 35,200-sf office-retail-showroom-warehouse complex at 11744 Beach Blvd. in Jacksonville, FL. Buyer and seller are from Jacksonville.
MIAMI-Quantum on the Bay will feature two interconnected towers, 51 and 43 stories, with 699,253 sf of residential space. The estimated construction cost for the 750-unit project is $90 million.
SAN DIEGO-The development, known as Market Square Manor, is approximately 75% built-out with completion slated for this summer. The complex will bring 200 affordable apartment units to the East Village's senior population.