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CORAL GABLES, FL-Gables/Kovens Inc. goes with a national name to build Gables Club Tower, a planned 98-unit luxury condominium project in the exclusive Sunrise Harbor section of this community six miles south of Miami.
CLERMONT, FL-Instead of selling the 28 acres on State Road 50 at a healthy profit, South Lake Hospital accepts $350,075 from Lake-Sumter Community College, the same amount the hospital paid for the tract three years ago. Clermont is 25 miles west of Downtown Orlando.
MARLBOROUGH, MA-The commercial real estate market along Route 495 takes a turn for the worse as a number of major firms look to get rid of large chunks of their properties in this area. The vacancy rate here has risen 3% in a few months.
ROMEO, MI-The village eyes property in nearby Washington Township for a possible Taubman Centers Inc. mega mall. It would be able to recoup taxes to pay for water and sewer, as well as provide police and fire protection.
CHICAGO-Heller Financial, Inc., in the midst of a $5.3-billion tender offer by GE Capital Corp., buys a portfolio from Bank of America, NA, Banc of America Commercial Finance Corp. and Bank of America Canada.
BOISE-Locally-based Albertson's Inc. reports a loss for the second quarter, the second in the grocery store chain's 42-year history. The loss mostly can be attributed to a company acquisition two years ago of American Stores.
DALLAS-A Texas family trust, busy assembling land tracts along the Oklahoma border, has added 4,400 acres of commercial land to its portfolio. The deal skirts an auction by three days. The property was carrying a minimum reserve price of nearly $400 per acre.