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NEW YORK CITY-A local developer's proposal has gotten the nod from the city's Economic Development Corporation to build a 226,000-sf mixed-use complex on a partially vacant Bronx site.
AUSTIN-Littlefield Corp. has raked in a $141,538 gain in a securities sale and a total return of 34%. The gain boosts July performance into the black in comparison to a $369,992 loss recorded a year ago for the same time frame.
POINT PLEASANT, NJ-This shore community, which bought the site from Meridian for $3 million, will use its profits on a new recreation area. The buyer's plans haven't been disclosed.
ORLANDO-One of the real estate industry's favorite deal-makers today is Section 1031 of the Internal Revenue Code. The law allows owners to exchange like-kind properties and defer capital gains taxes for an unlimited term.
MARLBORO, MA- Sepracor Inc., a locally based pharmaceutical company, builds an office and laboratory building here on the grounds of a private school. The company is seeking property tax relief from this city for the $28-million project.
CHICAGO-Cushman & Wakefield reports north suburban Lake County is seeing an increase in deals involving users, boosting sales prices above replacement costs. The east O'Hare market also is holding up well.
CHICAGO-A falling stock market also have made the returns on triple-net leased properties attractive to investors looking to defer capital gains taxes on the sale of their real estate while locking in a stable return.
PORTLAND, OR-Ashforth Pacific says it will use its management assignment for EcoTrust's innovative Jean Vollum Natural Capital Center in Portland Pearl District as a platform to demonstrate the company's own environmentally friendly approach to property management.
The 241-unit Renaissance Plaza project, a public/private venture originally scheduled for delivery in July, will begin quietly letting tenants start moving in over the next few weeks.
CHICAGO-LaSalle Investment Management, Inc.'s fund ultimately hopes to raise $150 million, which including leverage, would allow it to buy $375 million worth of medical office buildings. The first buys are in St. Louis and Richmond, VA.