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ORLANDO-The locally based resort developer projects final buildout sales on the twin Muirfield venture at the north Florida Seascape Resort in Destin, FL will be $130 million. The company has pre-sold half of the 220-unit Muirfield I complex.
PLANO, TX-Lincoln Property Co. sells a high-end retail project to an entity of Clearview Investments, a boutique firm with deep-pocketed backers. The 112,389-sf design center, about two years old, was the first retailer to roll out in the tony Shops at Legacy.
NEW YORK CITY-Now that its REIT status is official, Trizec Properties will keep its headquarters in Midtown. The company currently has a 74-property portfolio and plans to expand its presence in seven core markets.
BOSTON-The Boston Redevelopment Authority's board of directors gives the green light to CWB Boylston LLC's Boylston Street Mixed Use Project. The 450,000-sf property, to be located within the Prudential Center Complex, will include a 168-room hotel, 105 residential units and retail space.
LOS ANGELES-Tenet Healthcare Corp. has signed a 10-year, $11.29-million lease for 33,500-sf in West Wilshire Center. The property is currently undergoing renovation and will have a new look in the second quarter of 2002.
CHICAGO-While trying to restructure debt on six retail centers hard hit by tenant bankruptcies, Horizon Group Properties, Inc. assets in Michigan, Minnesota and Nevada show improved occupancy. Still, first-quarter funds from operations are in the red.
SECAUCUS, NJ-Hilton Hotels brings its fast-growing brand, which targets mid-priced corporate and group travelers and now has more than 130 properties across North America, to the Meadowlands market.
OAKLAND, CA-Computer Sciences Corporation signs a 10-year lease to occupy 36,000 sf on the 11th and 13th floors of the building, which is owned by Shorenstein.
CORONADO, CA-Under the agreement, the hotel will pay the city $1 million over 15 years in exchange for public improvements related to expansion plans for the famous 30-acre Hotel del Coronado. Destination Development wants to build new guest cottages, a convention center and new pedestrian access.