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GENESSEE COUNTY, MI-Both Somerset Town Centre and Park Place Centre are located here. In making the deal to refinance these retail properties, the insurance company Farm Bureau assumes the risk of a stagnant local economy.
DALLAS-John T. Amend of WorkPlaceUSA is the only real estate professional in this year's lineup of 25 regional execs in the running for E&Y's entrepreneur of the year. Vice presidents for Carter & Burgess and McCarthy land prestigious board appointments.
TEMPE, AZ-Puckett's Flooring writes a check for about $1.9 million to Chamberlain Development for an office/warehouse property with easy freeway access. The new building has about 4,000 sf of office space and more parking than the old address.
TORRANCE, CA-The LA-based Casa Leaders buys a new, 35,858-sf facility along 228th Street that will take its primary warehouse operations from Harbor City. The retailer is planning to move by month's end into a design with 24-foot clear heights.
ATLANTA-The Chicago-based owner and operator of a 10-million-sf national portfolio of office and industrial properties negotiated a new three-year lease for 26,104 sf at 1165 NorthChase, an 85,152-sf building in the NorthChase Office Park.
MONTVALE, NJ-The largest importer of Italian wine, Winebow Inc. has purchased a 63,113-sf, three-story building from International Paper. Winebow is relocating its headquarters from Hohokus.
PALOS HEIGHTS, IL-High Technology Inc. has sold the 24,250-sf building at 11824 Southwest Hwy. to Vision Realty Partners for $1.875 million. It was 95% occupied at the time of sale.
FORT WORTH-The law firm of Kelly, Hart & Hallman renews 59,591 sf and takes another 1,701 sf in back-to-back deals at City Center in the Fort Worth CBD. The five-year deals are just the latest wave in the renewal rush this year at the landmark property.
MIAMI-The financing, from Fremont Investment and Loan, is to fund the construction of the luxury condominium development in Bal Harbour, FL. Bellini, a project of developer Martin Z. Margulies, will contain 81 estate-sized homes. It is set to be completed in September 2004.
NEW YORK CITY-Is the New York City office market in even weaker condition than its high vacancy rates indicate? One quarterly report suggests "hidden space" is a factor that needs to be considered.