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MIAMI-The loan will be used to develop Downtown Dadeland, a $140 million mixed-use retail/residential village to be located here. The project, for which preconstruction began in November, will include 416 condominiums and 115,000 sf of retail space.
DENVER-According to the year-end Transwestern Outlook Report, the Denver-area economy suffered its weakest period since 1987 with a negative net absorption and a rise in office vacancy, but a diversified economy may be its saving grace.
ABINGDON, VA-Virginia wins out as the location for Tennessee-based glass manufacturer AFG Industries' new $30 million glass coating facility. AFG will erect the 150,000-sf structure in Washington County's Oak Park Center for Business and Industry.
EVANSTON, IL-The privately held company has acquired Lemont Center in Lemont, Snow Valley Center in Lisle, Applewood Center in Matteson, Ridgeland Center in Palos Heights, Lakewood Center in Plainfield and Chateau Center in Willowbrook, in addition to two Downstate assets.
IRVING, TX-The broker's been hired to hawk the 6,500 rooms, the second block put up for sale in two years in a portfolio realignment favoring high-end, resort-type properties.
MIAMI-On Feb. 12, the company plans to kick off the $5 million-plus project, which will include a retail building, four restaurants and the extension of Main Street east of Ludlam Road (Northwest 67th Ave.).
SAN DIEGO-Crescent Chancellor Park LLC secures another tenant for its San Diego office complex, as orthodontist Dr. Paul Styrt signs a 10-year lease for 2,868 sf here.
CHICAGO-LaSalle Investment Management revenue offsets declines in leasing and property management fees, helping Jones Lang LaSalle post a 2002 profit after showing a loss in 2001. However, the company is optimistic it will eventually see a pick-up in leasing income.