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MONTEREY, CA-Even though the Carmel Valley Airport property is zoned for residential use, the owners must gain approval for other land-use possibilities, including "clustered" residential development, affordable housing, multi-family housing, or commercial, recreation or resort facilities.
NEW YORK CITY-With more than 86,000 rooms in 412 hotels, the surviving company will retain a major Pittsburgh presence but will be headquartered in Washington DC. Company officials say it will be the largest independent operator of full-service Marriott, Hilton and Sheraton hotels.
HOLLAND, MI-Several factors, including the low use of the plant and lower sugar costs further north in Canada, were among the reasons for Northfield, IL-based Kraft Foods North America to close the 429,000-sf facility.
CHICAGO-Executive vice president for leasing and operations Antonio Bismonte is staying through the end of the month before leaving to "pursue other interests." senior vice presidents Steve Budorick, Paul Layne and Doug Winshall assume his duties.
FRISCO, TX-Jay Allison, chairman and CEO of Comstock Resources, wears his hat as board president at today's construction start for the 65,000-sf Legacy Christian School, touted as the first private school north of Texas 121. Delivery is set for August.
ORLANDO-The locally based restaurant company and the tribe jointly broke ground today on Indian reservations with a 90,000-sf complex in Tampa, FL and a 115,000-sf project in Hollywood, FL.
SEATTLE-The National Science Foundation is promising the money over the next five years for the development a new science and technology center on the University of Washington campus.
ATLANTA-Cousins Properties Inc., headquartered in Atlanta, and Bank of America have completed a $150 million refinancing of the landmark Bank of America Plaza office tower.
LAWRENCE, MA-Centercorp Retail Properties and The Davis Companies sell Plaza One Fourteen, a 103,926-sf shopping center located at the intersection of Routes 114 and 28 for $10.3 million to Capwell Lawrence LLC, an affiliate of Albemarle Equities, LLC and Goldstein Associates.
HOUSTON-New owner Sterling American has slid in a new property manager and is fine-tuning renovation plans for the complex at 9301 Dairy View Lane in Houston. Repositioning is in order since rent averages just $542 per month.