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ANNAPOLIS-Work on two 8,125-sf restaurant/service buildings in the $25 million Annapolis Technology Park gets under way. Developer MIE Properties expects the new additions, which are part of the first phase of the mixed-use park endeavor--to be ready to go sometime next spring.
FORT LAUDERDALE-The long-term office lease is for 30,044 sf at Cypress Financial Center here. The building is 73% occupied. The asking per-sf rental range for full-service, class A space in that submarket is $22 to $27 per sf.
BIRMINGHAM, AL-The Alabama-based REIT, with a total market capitalization of $2.8 billion, will be paying fourth quarter dividends on its Series A and C issues that equate to annualized payments of over $2 per share.
VANCOUVER, WA-A city consultant's report, released this week, confirms that the City of Vancouver's planned Downtown convention center will lose hundreds of thousands of dollars each year. The good news is the money is already lined up to cover the losses.
HOUSTON-Tile Outlet will open doors in 11,790 sf at the Hunting Bayou Center in East Houston. Dollar General taps 7,500 sf at the Champions Point Center in the northwest corridor. NewQuest Properties owns both centers.
ORLANDO-The 84-year-old developer of the affluent 3,000-acre Heathrow community, 25 miles north of Downtown Orlando, has been named the top entrepreneur in the United States. He vies for international honors in Monte Carlo next year.
SANFORD, FL-After two years of talks, Seminole County elected officials have agreed to partner with Sanford, FL, the county's largest city, in developing a 63,000-sf Downtown exhibition and meeting structure that could attract small business events.
WASHINGTON, DC-The famed Watergate Hotel goes up for grabs as owner Blackstone Real Estate Advisors puts the luxury property on the market though Eastdil Realty. Blackstone anted up nearly $40 million for the hotel in 1998. It is currently valued at about $33.7 million.
SAN FRANCISCO-Property owners Shorenstein Co. and Bank of America have leased the Bank of America building's 60,000-sf executive suite to Dodge & Cox, an asset management company.
LOS ANGELES, CA-Office and industrial markets will begin to recover next year, but a full-scale recovery won't occur until 2004, says a USC Lusk Center forecast released today.