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MIAMI-The medical equipment company signed a mid-term lease estimated to be valued at approximately $450,000, based on the $7.50 to $8 per sf asking rental rates at Beacon Centre. This lease brings occupancy in that building to 100% and at Beacon Centre to 98%.
OSSINING, NY-A local commercial broker has filed a $120-million lawsuit in New York State Supreme Court charging that the Town of Ossining and some of its chief officials conspired with a local business to deprive him of a brokerage commission on the sale of a parcel of property.
FORT WORTH-The Clover Ridge Apartments are laid out in a 14-building design on six acres that have been held in reserve for five years. Fort Worth's Smallwood Cos. gets 90% of the construction cost at a 6% fixed interest rate to build market-rate units.
NEWPORT BEACH, CA-Jeff Dun, formerly the regional vice president of Koll Construction, founds Coast Pacific Builders, a commercial builder that starts with a flex office project in Pasadena.
SAN ANTONIO-This morning, engineers and contractors started surveying the Watermark Hotel site to assess damage and try to determine what caused a four-story brick wall to fall. A worker and pedestrian were injured in Wednesday's collapse.
SAN DIEGO, CA-Three tenants take office space at San Diego's Champions of the West Tower in separate transactions that carry a combined value of more than $2.6 million. The tenants are Leavitt Management Group Inc., Edward D. Kosakoski DMD and ULR Insurance Services.
LONDON-Headline rents in the key Thames Valley office market fell by an average of 6% during 2003, according to the latest research from Atis Real Weatheralls. The firm's new South East Office report says that if landlord's incentives are taken into account the real fall in rental values could be three times higher.
DETROIT-A $13-million, 40,000-sf building honoring Father Solanus Casey, founder of the Capuchin Soup Kitchen and under consideration for sainthood, will be dedicated Saturday. About 180,000 visitors a year are expected.
SAN SIMEON, CA-After years of battling with the San Simeon community over development of a 250-acre resort on its seaside property, Hearst Corp. has thrown in the towel and agreed to help preserve it as open space.
DENVER-Developer and retail investment totaling $19.8 million will be the largest source of financing for the Dahlia Square Shopping Center project. Another $7.5 million comes from tax increment financing.