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TOMS RIVER, NJ-The S.D.D. Inc. project, currently under construction, features an existing Target store and will build out to more than 304,000 sf with the addition of Lowe's and several other tenants.
TROY, MI-The Championship Auto Racing Team Professional racing group leaves the Top of Troy building for Indianapolis. Meanwhile, the city works to keep financially-troubled Frank's Nursery at its headquarters on Long Lake Road.
IRVINE, CA-The company's owner, Philip Quaranta, has purchased a 2.2-acre parcel here and plans to build a corporate headquarters building for R&B Gear on the site. Completion of the 33,216-sf facility is slated for October 2002.
SAN FRANCISCO-The vacancy rate of small spaces in San Francisco has dropped 1.5% since February. Real estate expert Hans Hansson sees this as a potential window of opportunity for landlords to divide larger spaces in the future.
NEW YORK CITY-Newly formed Normandy Real Estate Partners snags its first Manhattan office asset in the low to mid-$400s per sf. The buyer says 1370 was being pursued by those squeezed out of the 450 Park Ave. buy. Normandy bought the asset in partnership with Scott Landis.
ORLANDO-But the New York-based consulting and appraisal house gives the Orlando area low evaluations in retail and office. Apartments, Orlando's strongest sector, won a No. 4 ranking. Industrial placed fifth out of 59 metro markets surveyed in Integra's 12th annual Viewpoint analyses.
ST. PAUL, MN-The insurance company's staff architect will now turn his attention from space planning to safety and security. He was involved in the design and construction of the 401 Robert building.
ORLANDO-Martin W. Boelens Jr. and Robert W. Boyd have agreed to plead guilty on separate charges of securities, mail and wire fraud in the total $214 million sales of unregistered mortgage-backed securities to 2,000 private investors across the country. Securities salesmen Thomas S. Spencer of Orlando and Anthony V. Micciche of Tampa, FL also agreed to plead guilty in the 15-month-old investigation.
SAN MARCOS, CA-City leaders give the nod to a major renovation of the Vallecitos Town Center. Built in the mid-1980s, the center is near Nordahl Road and state Route 78.
SHOREVIEW, MN-Shoreview Village Mall's owner hires Minneapolis artist Aldo Moroni to paint murals at the 20-year-old retail center and anchors it with a health food store, gift shop and pharmacy.