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ORLANDO-Dream Harvest Inc. is willing to pay $89.23 per sf for the 64-year-old, five-story, 325,000-sf former hotel resort property developed in Eustis, FL by the heirs of New York's Waterman Fountain Pen Co.
DALLAS-John Aldrich, Colliers' president, isn't retiring or jumping ship. He merely is ending a two-year interim appointment, with pleasure. His phone's been ringing ever since word got out that Kennedy-Wilson's Allen Gump returns to Colliers tomorrow.
CHINO HILLS, CA-A 16,000-sf section of the 85,813-sf Country Club Marketplace II has been purchased by a private investor. The recently acquired parcel consists of 10 tenants, including Blockbuster Video, Subway and Postal Annex.
AURORA, CO-The $4.3-billion project will create $3.1 billion annually in activity by 2010 and $6.3 billion upon completion, according to an independent study by Washington, D.C.-based Hammer, Siler, George Associates.
HOUSTON-Parker Rodriguez has the office building and one acre of land along Skyline Drive. Now, he's formulating a new landscaping plan in line with his profession. The acquisition comes with a tenant.
AUSTIN-There's no other word for it but "grim." In three years, flex occupancy has fallen 20%. The first quarter logged a negative absorption of 903,374 sf for flex, more than all of 2001. Overall, vacancy is 14.9%.
NEW YORK CITY-Brookfield Properties Corp. has refinanced its initial short-term construction loan at 300 Madison Ave. with a $560 million bond issuance. Completion of the 35-story office building is set for August 2003.
TUCSON-NextHealth picks up mezzanine financing for recapitalization from Boston's Charlesbank. The financier, in turn, gets some profit participation from the Miraval resort and Sierra Tucson treatment center.
CHICAGO-An area five miles south of the Loop could begin to see new retail development replacing boarded-up storefronts along S. Halsted St. through tax increment financing, city officials hope.
AUSTIN-Construction crews have descended on 4200 W. Braker Lane, where Regions Bank is building its sixth Austin-area location. The project includes space for other offices and is part of Quarry Lake, a 600,000-sf, mixed-use development.