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TUCSON-Graystone Group Ltd. of Toronto has secured a $6-million loan in a refinancing of the 117,300-sf Manzanita Plaza in Tucson. The 10-year loan carries a 7.46% interest rate. The fully leased retail property was built in 1982.
CHEHALIS, WA-A Houston-based company has begun building a $360-million natural gas-fired power plant midway between Seattle and Portland in Lewis County. The 505-megawatt facility is slated to begin operation in late 2003.
SEATTLE-The Airport Communities Coalition has filed an appeal seeking to overturn a permit issued last week by the state Department of Ecology. The water quality permit was necessary for construction of a third runway at Seattle-Tacoma International Airport.
ATLANTA-The entry of Ronus Properties on Atlanta's commercial turf ends the management contract with locally based CNM Associates, a joint venture between Ronus Inc. and Ben Carter Cos. Carter now owns CNM and will continue to manage assets in that group's portfolio.
NEW HYDE PARK, NY-Seven stores on Ames Department Stores' latest list of upcoming closures are located in Kimco-owned shopping centers. By October, the largest publicly traded shopping-center REIT in the US will be looking at roughly 1.2 million sf space vacated by one of the country's biggest discount retailers.
DALLAS-Colliers International's Dallas president says it's easy to lose perspective as to what's happening in the Dallas-Ft. Worth market. Pricey giveaways are here as a counterattack to the slowdown. Still, it's not really as bad as it feels, he says.
DANVERS, MA-This area could be home to yet another semiconductor company as sources tell GlobeSt.com that California-based Applied Materials is close to a deal to lease a 290,000-sf building here. The building, which formerly housed Osram Sylvania, is currently being renovated.
DALLAS-The deal just made sense, says the broker who has signed American Airlines to another 31,087 sf for a second call center in an Invesco-owned, two-building CentrePort complex. The deal puts American Airlines into 98,087 sf of the 134,000-sf project.
PETALUMA, CA-Gateway Business Park owner Basin Street Properties, a commercial and mixed-use property developer, negotiated an agreement with SimplexGrinnell LP, a division of Tyco International