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HOUSTON-Royal White Cement exercises a purchase option riding with a lease cut last year after a fire gutted its other rented site near the Port of Houston. Now that the deal's done, the cement importer intends to put 30,000 sf up for lease.
MIAMI-Interstate Hotels & Resorts signed a long-term contract to manage the 156-room Radisson Kendall Hotel and Suites, located on 22 acres at 9100 N. Kendall Ave. The property is owned by Kendall Hotel Resort Limited Partnership.
LONDON-Wilson Bowden Developments has sold its 365,000-sf Water Gardens retail and office development in Harlow, Essex, to Resolution Property for pounds 70million ($115 million). This represents yields of 6.75%.
SURPRISE, AZ-The 13,000-sf pharmacy will rise on 3.5 acres at an intersection known as the Orchards. The chain's Pittsburgh-based developer, Gustine Properties, will deliver the store in the fourth quarter.
CHULA VISTA, CA-Roel Construction Co. has built out new office space, as well as reception and interview areas for the US Probation Office Southern California District. The organization's 15,000-sf space is located at 303 H St. within Gateway Chula Vista.
SAN DIEGO-Grading begins on Sycamore Walk, a new residential project designed to deliver a total of 70 affordable condominiums, as well as 50 townhomes, to the San Diego market. Prices will range from the $120,000s to the mid-$300,000s.
DUBLIN, CA-The $125-million mixed-use development with a traditional main street shopping experience celebrated its grand opening last week. The retail space is all but full and the first phase of the residential is 78% leased.
HAMPTON, VA-Economic redevelopment efforts for the City of Hampton take a giant leap forward with the recent groundbreaking ceremony for the city's 345,000-sf convention center and an adjoining 300-room Embassy Suites hotel.
ORANGE, CA-The value-added specialist acquires a 50,000-sf industrial building from the owner of Toyota of Orange. A new lease trails the purchase to take occupancy to 100%. The seller wanted and got a quick closing.
TAMPA-Brad Luger, executive director of Advantis Real Estate Services Co./GVA's investment services group in Florida, posted 2002 transaction volume of $50 million in a challenging industry year, the firm states.