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ORLANDO-Developer Sergio Naya tells the court he has only $19,000 in the operating till and needs at least $110,000 to operate monthly and complete the second of two 17-story, 204-room hotel towers in Orlando's main tourist corridor in south Orlando. The second building in the Sandy Lake Towers venture has been under construction for 10 years.
NEPTUNE, NJ-Work is proceeding on the initial phase of the project announced earlier this year by a local partnership that hopes to attract a range of technology-related users.
PHILADELPHIA-Zurich Structured Finance is the new majority partner of the 142-old landmark, which completed a $95-million renovation in 1988. Former owner the Brickstone Cos. will continue to manage the center.
MIAMI-The locally based builder of single-family and multifamily homes attributes the increase to a $1.6 million pre-tax gain on the sale of two partnerships.
DETROIT-The Trenton, MI city board is willing to plunk down $250,000 to come up with answers about acceptable uses for 315 acres of shoreline land. SmithGroup consulting has been hired to work with property owners on the study.
BOURBONNAIS, IL-He plans to capitalize on the growth potential of the I-57 market, especially if Chicago's third airport gets approval in Peotone, IL. The area features a skilled workforce and good transportation.
HOUSTON-The high-profile NASA-Clear Lake area has one tenant renewing and two new ones coming on board. Colliers International's Houston office has sealed the 24,789 sf in pacts. The largest deal is a 15,100-sf renewal for ATA Associates.
WALL TWP., NJ-Direct Success Inc., which serves the pharmaceutical industry, will use the former Lab Volt office building as its corporate headquarters. Schultz/TCN arranged the sale.
VANCOUVER, WA-The Washington Court of Appeals decision, written by Judge J. Dean Morgan, dismisses opponents' claims that the 18,000-sf amphitheater would violate noise statutes. Opponents may now appeal to the state Supreme Court.
CHICAGO-Although the economy may be slower now than it has been in a number of years, a new report finds that the appetite of investors for retail properties in the northern suburbs is still strong.