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BOSTON-Coldwell Banker Residential Brokerage, the company formed out of the merger of The DeWolfe Companies--which was recently acquired by NRT--and Coldwell Banker Hunneman, adds two more regional real estate firms to its family, one in Maine and one in Rhode Island.
CHULA VISTA, CA-Lake Partners LLC, a Shidler Group entity, sells the property to Hylen-Otay LLC and McEwen-Otay LLC for $3.3 million. The complex, which stands at 690 Otay Lakes Rd., is occupied by tenants including Bonita Athletic Club and McMillin Real Estate and Mortgage Co.
DETROIT-An Indian tribe wins an injunction to prevent further building permits for three permanent casino sites in Downtown. Mayor Kwame Kilpatrick is confident the court will act quickly on an appeal.
ATLANTA-The Goodlettsville, TN-based discount chain that has leased more than 22 million sf, over the past five years, primarily in the Southeast, has run afoul of the SEC by overstating earnings by $100 million. CEO Cal Turner Jr. has resigned.
GILBERT, AZ-The Los Angeles-based International Church of the Foursquare Gospel buys the space it occupies and the rest of the park at 459 N. Gilbert Rd. Broker Lee Noble got the call to do the deal from a relationship spawned in 1975.
MIAMI-At 10 years and 10,000 sf, the lease translates to $34 per sf in the mixed-use Boca Center, Tower 1. This brings the occupancy of the two towers to 94%.
HOUSTON-The Thicket in the northwest submarket attracts 12 to 15 bidders, activity pushed by the upside potential. Of course, it comes with a renovation price tag. Brays Village Associates takes the deed from Denver's AIMCO.
ORLANDO-The locally based, reorganized timeshare developer's Grand Vacation Co. paid an estimated $5 million or about $100,000 per room for the Royal Regency Hotel in the Vincennes district, one of the city's more desirable residential areas.
ROANOKE, VA-The 133,600-sf manufacturing plant at 7702 Plantation Road has been sold in a $3.2 million sale-leaseback arrangement between owner and occupant Atlanta, GA-based BSC Ventures LLC, and buyer Autumn Investments. BSC will leaseback the space for its Double Envelope and Convertagraphics subsidiaries.
RICHMOND, VA-A $10 million loan is secured for the redevelopment of the historic structure at 15th and Dock streets. John B. Levy & Company facilitated the financing package for the 112,000-sf, class A office structure, which is currently only 30% pre-leased.