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SACRAMENTO-The recent addition of two new hotels to Downtown Sacramento has not frightened local developers from proceeding with plans to develop a new, all-suites hotel in the area.
LONDON-Despite the well-documented problems facing the London office market, the UK's regional centres are faring well, with take-up rising by 21% year-on-year according to new research from Atis Real Weatheralls.
MIAMI-The New York City-based resort and vacation developer/investor purchased the telecommunications equipment for its Miami facility and plans to invest another $100,000 to improve sales and marketing performance.
ATLANTA-The permanent loan is for 10 years, locked at a 6.9%-rate, with a 30-year amortization, arranged by the Atlanta office of Chicago-based iCap Realty Advisors and funded by Newark, NJ-based Prudential Mortgage Capital. The 136,282-sf property is 98% leased.
HOUSTON-World Projects International renews a 6,134-sf lease for its headquarters at Greenbriar Place. Strategic Materials, a leading glass recycler, takes 5,969 sf in the city's southwest submarket.
MIAMI-Occupancy is at 65.8%, down 9.6% from last year while average daily room rates are down 6.8% to $113.72 because of a slow economy, fewer foreign tourist and fear of terrorism, Smith Travel Research of Hendersonville, TN says in a new report.
PARAMUS, NJ-The signing brings the recently rehabbed Shoppes at IV, owned by an affiliate of Phoenix Four Inc., to 96% occupancy. Strategic Resources Corp. is managing the property.
SONOMA, CA-Nevada Gold & Casinos, Inc., a developer of gaming properties, increases its ownership of Dry Creek Casino LLC from 51% to 69%, allowing it to receive more than 20% of the casino's earnings.
ORLANDO-Despite a fourth-quarter net loss of $21.9 million or a loss of 16 cents per share, the 71-year-old, Jacksonville, FL grocer ended fiscal 2002 on June 26 with net earnings of $86.9 million or 62 cents per diluted share versus $45.3 million or 32 cents per diluted share in 2001.
BROOKLINE, MA-A plan to turn the former St. Aidan's Church and its environs into a 74-unit market-rate and affordable-housing project is approved by the town's board of selectmen. The project involves using the church for some units as well as developing townhouses and an apartment building.