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WYLIE, TX-Sphinx Development Co. will deliver the 120 townhomes in Wylie in midyear 2003. Site work has begun on the $12.8-million Bachon Townhomes, going up on a 14-acre site. The 18-year loan's interest rate is locked in at 7.42%.
ANAHEIM, CA-The investment brokerage builds an office here with the addition of a former Grubb & Ellis apartment specialist, while two former G&E brokers return to the fold from other firms.
PASADENA, CA-The Northwest Pasadena Development Corp. obtains the debt and equity financing from Related Capital and Charter Municipal Mortgage to rehab a 133-unit affordable housing complex in northwest part of the city.
ONTARIO, CA-The Wisconsin-based hotel chain breaks ground here for its first hotel in the state. The four-story, 105-unit offering will be a joint venture with California developer Lew Wolff.
SAN FERNANDO, CA-Developers Joel and Adam Saitman recycled the three-building complex totaling nearly 40,000 sf on 1.5 acres and quickly found buyers for two of the buildings and a tenant for the third.
ORLANDO-The Orlando/Orange County Convention & Visitors Bureau, headed by Bill Peeper, is projecting total visitors of $40.9 million, down from $45.1 million the bureau predicted in August.
SCOTTSDALE, AZ-The locally based owner seeks the financing to help stabilize and restructure operations to emerge from a Chapter 11. Epic Resorts has been in Chapter 11 protection since July 2001. The deal still needs court approval.
TEMPE, AZ-Total Fab Solutions moves in soon to 13,699 sf at the Expressway Corporate Center in Tempe. The firm gets a 1,536-sf clean room and the balance in office space in a deal valued at $593,000 over its term.
GREATER BOSTON-Cushman & Wakefield releases its third quarter statistics and all the numbers point to a market that hasn't yet recovered but is beginning to stabilize. Vacancy rates are still high but have not changed significantly from the previous quarter.
NEWARK, CA-Coaster Company of America has committed to a 65-month lease with Prologis Trust to occupy a large warehouse in Newark. Prologis says the $6 million lease deal is the largest warehouse lease in the East Bay this year.