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ATLANTA-Spurred by rent cuts and concessions, Atlanta's apartment market realized solid demand during the April-June quarter for the first time since summer 2000, according to a study released this week by Dallas-based M/PF Research. Monthly rents average $800 a unit.
ORLANDO-Bidding against an unknown investor, the Scottsdale, AZ-based lender bested its rival after 11 back-and-forth bids for the 102-unit, four-building Sheraton Vistana Resort at the 6,300-acre World Golf Village community between Jacksonville, FL and St. Augustine, FL, 150 miles north of Downtown Orlando.
BARRINGTON, IL-A land sale, $1.8-million tax increment financing boost as well as approval of 24 condominium units and 18,000 sf of retail space could make the Cook Street Plaza project a reality after nearly a decade of talk.
FARMINGTON HILLS, MI-Motorola Automotive builds a new $23.7-million facility to be near automakers. The electronics giant will eventually employ 500 at its new complex at 12 Mile and Halstead.
SEATTLE-A group of developers has filed a petition opposing proposed changes to the state's energy code, saying that development of new residential towers will be faced with expensive obstacles if the changes are approved.
ORLANDO-The Orlando developer paid Curry Ford Associates $3.1 million or $41.05 per sf for the 75,500-sf Curry Ford East and University Square Associates $3.35 million or $36.81 per sf for the 91,000-sf University Square Shopping Center.
ORLANDO-International Speedway Corp. of Daytona Beach, which owns over 12 million sf of motor sports facilities nationally, posted record second-quarter earnings.
HOUSTON-Weingarten Realty Investors is selling $52 million in five- to 11-year notes at rates ranging from 5.14% to 6.11%. Weingarten's president says the move is aimed at paying down debt and "maintaining a strong balance sheet.
DEARBORN, MI-The company known for its popular workwear is building a new 56,000-sf facility as part of three-year business plan. It will house more than 250 employees beginning in August 2003.
PHILADELPHIA-Westmoreland County-based Premium Molding LLC obtains a $2.9-million low-cost loan from the Pennsylvania Economic Development Financing Authority to build an 80,000-sf plant in the Westmoreland Airpark development outside Greensburg, PA.