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HOUSTON-MetroNational won't be tapping the capital for 18 months, but it has locked in the financing with New York State Teachers Retirement System. The loan will replace a credit line now being tapped for the owner's share of a $300-million renovation.
DALLAS-Crow Holdings is about to sit down at the closing table for 2100 McKinney, the latest in a string of trophy sales pushing prices well above replacement costs. Commercial Developments International/East is still rumored to be the buyer.
VISTA, CA-The construction and mezzanine financing, arranged by Buchanan Street Partners, will cover 97% of the total costs of development for Burke's new 157,000-sf industrial project here known as Burke Sycamore Vista Business Center.
SAN ANTONIO-The Network Tech Center at 12400 Network Blvd. hangs a "no vacancy" sign with a triple leasing play. Two of the three tenants are in, with the third readying for a December move.
MIDDLEBOROUGH, MA-Campanelli Companies secures $5.3 million in financing for the development of the corporate headquarters for Champion Exposition Services. The 95,000-sf facility is located in the Campanelli Business Park of Middleborough.
CARROLLTON, TX-The increased value isn't coming from higher taxes, but rather increased personal business property from growing tenants. More Freeport exemptions are under consideration, a value-add move for the 2,200-acre park.
SACRAMENTO-The supplier of consumer package goods, under investigation by the Securities and Exchange Commission, is selling the stores to Save Mart Supermarkets for about $165 million.
AUSTIN-The Austin sandwich shop chain blames the economy for cutting into its margins, which had been $659,000 ahead of the game a year ago. The latest accounting is a setback, but corporate chiefs are planning their strategies to pull ahead.
PHILADELPHIA-As Indianapolis-based Simon Property Group becomes the sixth developer in three decades to abandon plans for the city's Delaware riverfront, Mayor Street sets a tight deadline for decision-making. Pennsylvania-based Keating Group and Tower Investments step into Simon's wake.
JERSEY CITY, NJ-Set for tomorrow, the ceremony will kick off development of two distribution centers that are a rarity these days- they're being done on spec.