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NORTH MIAMI BEACH- Chicago-based Corus Bank has provided an $84 million construction loan, and City National Bank of Miami has provided $15 million in mezzanine financing for the 48-story, 386-unit condo tower here.
CHICAGO-"There's a decent chance that within 90 days we can be pushing 90% occupancy in that building," says president and CEO Thomas August during a recent earnings conference call.
ATLANTA-The 120,000-sf, open-air shopping center on 10 acres in suburban Vinings, GA signs Ann Taylor Loft to a 6,000-sf, estimated 10-year lease in the 7,500-sf building where asking rents hover between $30 to $50 per sf.
SUN CITY, CA-The drug store chain leases a one-acre tract for 60 years for a second store in the Sun City area. With the land in hand, the plan is to build a 12,683-sf store. Work will start soon, with delivery set for the summer.
ORLANDO-A Volusia County civic association plans to appeal Circuit Court Judge Edwin P.B. Sanders' ruling on the estimated $12.5 million supercenter, one mile from an existing Wal-Mart in West New Smyrna Beach, FL.
LEXINGTON, MA-Gateside-Lexington refinances its 106,656-sf building at 113 Hartwell Ave. The building, which is situated on nearly 10 acres, was constructed in 1968 and has been fully leased by Instrumentation Laboratories ever since.
GREATER BOSTON-The area's almighty laboratory market is showing signs of vulnerability, according to a 2002 fourth-quarter report released by Spaulding & Slye Colliers. But the fundamentals of the market remain solid and the industry's importance in fighting bioterrorism means that it will likely attract more public funding.
ORLANDO-Elected county officials here are setting up a nonprofit corporation that will issue tax-free bonds for the $325 million cost of the proposed 450,000-sf, 80-acre Osceola Convention Center and 800-room hotel, 10 minutes from Walt Disney World.
DEDHAM, MA-The Massachusetts Bay Transportation Authority puts out a request for proposal for a developer to acquire and develop a 37-acre parcel that once served as a train yard on the Readville-Dedham line. The agency says that interest in the site is high.
PARIS-Property consultant FPDSavills advised the German real estate firm on the loans, which include funding for French newspaper Le Monde's headquarters building and two office assets.