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DALLAS-Williamsburg Properties, an entity of Vancouver, BC-based JEL Investments, gets a $16.5-million loan or 93% of the cost to acquire and transform a 16-year-old North Dallas complex into for-sale condos, the property's original intent.
CHATHAM TWP., NJ-The 15-acre property, which can be divided for residential development, includes a former estate house, and a barn converted for offices and dining. Marketing of the property follows the tenant's relocation to new offices in Basking Ridge, NJ.
PHILADELPHIA-Toronto-based IPC US Income REIT agrees to buy the 23-story, 529,000-sf McDonald Investment Center for $86 per sf. The class-A office building in Downtown Cleveland is 94% leased. Anchor tenants are McDonald Investments and Key Bank.
SAN FRANCISCO-Plans for the Letterman Digital Arts Center, the proposed new headquarters for Lucasfilm, may be scaled back following several complaints about the project's size and appearance.
TUCSON-The Barclay Group can make final plans now that two years of talks and a year of battling its neighbors come to a close. A first quarter 2003 start and a fourth quarter delivery are being planned for the Old Spanish Trail Crossing center.
SEATTLE-After breaking company sales records with a new store in Seattle last year, KremeWorks has decided to open two new Krispy Kreme stores in Seattle, and both may be open early next year.
SAN DIEGO, CA-Five Star Parking says the parking garage, which won approval recently from San Diego's Centre City Development Corp. will be the first of several parking facilities the company expects to build throughout the city over the next several years.
WILLIAMSBURG, VA-The 300-acre mixed-use project known as New Town gets underway with a celebration of the development and the start of its first property, the 60,000-sf SunTrust Building. New Town will ultimately offer 1 million sf of office space, 500,000 sf of retail space and 1,600 residences.
DALLAS-Tom Metcalfe and Charles W. Kelly are in negotiations to buy the business from Steve Stringer. The deal will close by fall. The firm's name will stay the same, but its nine-broker size is sure to change.
ROSEBURG, OR-The facility would be built out of a former grocery store that anchors a mostly vacant strip center owned by a woman from California. The city is offering up all the incentives it can muster to try and close the deal.