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LEESBURG, FL-Commissioners unanimously voted to annex a 3,443-acre cattle pasture that is zoned for four million sf of industrial; 1.3 million sf of commercial; 5,320 multifamily units; and 10,102 single-family, two-family and triplex units. Some residential activist groups argue the project is too large for a small city (Pop. 15,624) to manage.
SANTA ROSA, CA-Sonoma County Supervisor Mike Cale says 19,064 Cooley Ranch is, without a doubt, the greatest acquisition made by the county to date. The Cooley family has owned the property for 90 years.
PHOENIX-The NBA's Alton Lister has scouts out in the East Valley, a target area for the first of several Wingstop Restaurants. Lister has secured a development pact with the Dallas-based chain for his Arizona drive.
NEW YORK CITY-Put up for bid in April by Sara Lee to dispose on non-core assets it acquired in 1999, the six leaseholds have an average term of 20 years. The former diners range in size from 10,000 sf to 16,000 sf.
NEWPORT BEACH, CA-The locally based investment and development firm has sold the 280-unit complex to a pension fund client, as the Inland Empire's multifamily market continues to heat up.
SAN LEANDRO, CA-Alameda County takes just under 4,000 sf of class A office space for nine years while Western Metals & Lathe signs on for a 13,000-sf will call office.
ORLANDO-Locally based Hunter's Creek Charter School Inc. pays the Dallas-based developer an estimated $1.05 million or $70,000 per acre for a 15-acre parcel to construct a $7 million, 700-student classroom project in the 4,000-acre Hunter's Creek community of south Orlando.
HOUSTON-Marcus & Millichap is predicting another 5% hike in flex office rents by year's end. Investor interest is strong, fueled by a hardy local economy, a brisk energy industry and lower borrowing rates.
BOSTON-The city council here could kill the plan to build a new ballpark for the Boston Red Sox in the Fenway if it does not approve of key aspects of the plan. Meanwhile, another venue in the Fenway might become available.
HOUSTON-Marcus & Millichap is predicting another 5% hike in flex office rents by year's end. Investor interest is strong, fueled by a hardy local economy, a brisk energy industry and lower borrowing rates.