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MAPLE SHADE, NJ-The owner of the Macy's store in this South Jersey community will use the money to refinance a short-term loan used to acquire the property recently.
ST. PAUL, MN-Two bills supporting a $350-million Twins ballpark here passes a committee, while a $500-million Vikings-Gophers plan loses its first test in the House. The threat of Major League Baseball contraction appears to be helping the Twins' ballpark bid.
BOSTON-The environmental legislation passes the Senate here. If the bill makes it through the house, it would give the state's Executive Office of Environmental Affairs the power to prevent development in towns with the environmental justice designation.
MINNEAPOLIS-The chain will open company-owned units in Gaithersburg, MD and Richmond, VA, this spring. This follows a recent opening in Omaha, NE, the first of as many as 15 new franchise restaurants expected to open this year.
AUBURN HILLS, MI-Grubb & Ellis' Southfield, MI office wins the assignment to sell the Simplified Employment Services building in the Oakland Technology Park. The price of the two-story building has been reduced to $7 million.
LAS VEGAS-Radisson Hotels & Resorts levels the playing field between franchiser and franchisee by eliminating monetary penalties for canceled pacts. The upfront cost will be more, but Radisson's betting the change will keep people in the system.
DALLAS-A 55,290-sf warehouse in Farmers Branch, empty since mid-2001, fetches well above $30 per sf from a local investment group while a 5,000-sf office building in Uptown, vacant for 1 1/2 years, pulls close to the $600,000 asking price.
COSTA MESA & CUPERTINO, CA-Trammell Crow Residential has sold two of its luxury rental communities to Sobrato Development Cos. at near record per sf prices for non-beachfront rental units in Los Angeles and Ventura Counties.
DALLAS-American Realty, Transcontinental Realty and Income Opportunity Realty are on their way to being one. An October 2001 settlement plan of a drawn-out lawsuit gets court approval a week after corporate chieftains are acquitted of securities fraud.
WASHINGTON, DC-Hillel: The Foundation for Jewish Campus Life has purchased the 45,000-sf building at 800 Eighth St. and is renovating the structure, all for an estimated $18 million. The building is to serve as Hillel's new headquarters.