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ATLANTA-Owner/developer Hamid Jahangard has invested a total $21 million in the acquistion and refurbishing of the 28-year-old hotel at an aggregate per-room cost of $50,480. Daily room rates are $70 to $130.
ATLANTA-The Rochester, NY-based photographic supplies and manufacturing company is relocating 300 sales and marketing staffers in the third quarter to the 18-story, 93%-leased Perimeter Summit building developed by Houston's Hines Interests Inc.
DENVER-The Frederick Ross Co. taken on 12 new partners, who have acquired 24% interest in the city's oldest and one of its largest commercial real estate firms. Local owners and fresh ideas prompt the decision to sell to the investors.
MARLBOROUGH, MA-Micro Component Technology closes down its factory here. The St. Paul, MN-based company wants to consolidate its manufacturing facilities.
LONGMONT, CO-The Longmont Super 8 has garnered the top spot in the hotel chain, besting 1,699 facilities for the honor from Cendant Corp. Aurora, CO-based Stonebridge Cos. owns and manages the award-winning facility.
KANSAS CITY-Attempts are being made to pay unsecured creditors to close the Chapter 11 bankruptcy of Kroh Brothers Development. The company was a significant player in the office and retail market until the 1986 tax reform.
KANSAS CITY, NORTH, MO- Cerner Corp., a health industry software company, is looking at the former casino complex that recently went on the auction block. Cerner is in negotiations with the bidders.
FARMINGTON HILLS, MI- The Lutz Capital Corp. sells three retail buildings in three states for Steppingstone Properties. The properties totaled 25,400 sf and were in Mishawaka, IN; Saginaw, MI and Jacksonville, NC.
SAN JOSE-At its recent annual meeting in San Francisco, the 45-year-old family-owned brokerage firm made several announcements, foremost of which is that the company has joined the CORE Network.
FORT MYERS, FL-Former U.S. Sen. Connie Mack has joined the Washington, DC-based law firm Shaw Pittman Potts & Trowbridge as a senior policy adviser in the firm's government relations practice. The firm has a 35-lawyer real estate practices group. Fort Myers is 125 miles southwest of Downtown Miami.