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ATLANTA-The newly formed Community Improvement District is expected to generate annual taxes of $600,000 while providing clean-looking entrance roads to commercial, industrial and residential developments.
JACKSONVILLE, FL-The locally based office and industrial developer paid Union Labor Life Insurance Co. of Washington, DC $8.25 million or $31.13 per sf for the 15-year-old, 265,000-sf Commonwealth Commerce Center and 18.5 adjoining acres.
BENSENVILLE, IL-General Manufacturing relocates from Franklin Park to 50,000 sf at 28-30 Garden Ave. here, while high-speed printing machine manufacturer Xeikon takes 53,200 sf at Itasca Highlands Business Park.
LOS ANGELES-The Main Mercantile Building, with Oxford Street Properties at the helm, joins the growing list of former office buildings being converted into loft-style apartments in Downtown LA.
SAN DIEGO-The 83,411-sf facility is located at 7615 Siempre Viva Rd. in Otay Mesa's six-building Britannia Corporate Center campus. Buyer Tara Materials Inc. plans to relocate its Hy-Jo picture frame division into the facility.
COLLEGE PARK, MD-The Clark Construction Group Inc. gives the University of Maryland a helping hand with its new engineering facility by serving as the general contractor on the 155,000-sf project. The $39 million building is expected to be up and running in December 2004.
LONGVIEW, TX-The East Texas borrower gets a loan of almost $1.3 million, representing an 85% LTV, to purchase a fully leased, four-building asset with no deferred maintenance and no immediate lease rollover.
MT. LAUREL, NJ-The new owner sees its acquisition as part of an effort to expand its statewide presence in the upscale shopping-center genre. The newly purchased asset is 92% occupied.
BINGHAM FARMS, MI-Company is now in process of liquidation plan. Assets that were reevaluated dropped by $6.3 million, but company earned money in fourth quarter.