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CHANDLER, AZ-JRS Investments, a candy vendor, spends $2.95 million for 5.3 acres as a site for a distribution center. The Barefoot Beach Club, an investment group, spends almost $195,584 for 1.4 acres. SunAmerica is the seller.
EDISON, NJ-The funding was arranged for Denholtz Associates. The portfolio encompasses a total of more than 230,000 sf of industrial space in Branchburg, NJ and in Lehigh Valley, PA.
DALLAS-The borrower is Southwest Housing Development Corp. and the projects are 256 units in South Dallas and 280 units in Austin. Related Capital puts up $15 million in equity while its subsidiary finances $31 million in debt via bond investments.
WASHINGTON, DC-Marriott International Inc. moves ahead with its Middle East expansion plan with the October opening of the multi-million dollar Jordan Valley Marriott Resort & Spa. The estimated $25 million luxury resort is one of four properties Marriott will open in the Middle East by year's end.
DENVER-Sources tell GlobeSt.com a 235,000-sf building at the US Post Office Annex site in LoDo, constructed by Hines Interests, could become the home for the Rocky Mountain News, Denver Post and the Denver Newspaper Agency.
WASHINGTON, DC-The National Multi Housing Council's 2002 National Apartment Management Survey of Compensation and Benefits Practices finds employee turnover is on the decline, dropping 49% from year 2000 numbers. But a sluggish economy means increases in employee compensation will take a hit.
PHILADELPHIA-The Rahway, NJ-based developer adds a 96,235-sf office/warehouse building in Fogelsville, PA and another 64,800-sf property in Allentown, PA to its portfolio. Both are 100% leased. Holliday Fenoglio Fowler arranges financing.
VISTA, CA-The company is serving as the general contractor for the new $1 million Aloha Motors auto dealership, which is scheduled to break ground in November. Slated for completion by April 2003, the dealership will rise on a 1.8-acre site just north of the 78 Freeway.
BUENA PARK,CA-A Newport Beach investor acquires the two-building, 155,384-sf office complex on Beach Boulevard from a partnership of Laguna Hills, Calif.-based Birtcher Property Services and New York-based Praedium Funds.
FAIRFIELD, NJ-The four separate transactions all occurred in 750,000-sf office and industrial complex managed by Sheldon Gross Realty for multiple owners. The largest of the four was just under 52,000 sf.