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WINTER PARK, FL-The Chicago-born developer/investor built the 200-room Langford Resort Hotel, Orlando area's first air-conditioned lodge in 1956, for $1 million or $5,000 per room. The replacement cost today would be $30 million, industry estimators tell GlobeSt.com.
WAYLAND, MA-Pounding rain this past Friday came after a storm that caused $10 million in damage. Governor Paul Cellucci has applied for federal funding to help with the flood recovery.
WINSTON-SALEM-The Greenville-Spartanburg area in South Carolina, 75 miles southwest of Downtown Charlotte, is sizzling as new highways pave way for commercial development.
ORLANDO-Trammell Crow Co.'s John M. Crossman says changes in tourist flow, anchor tenant migration and the debut of high-end product could quickly alter Central Florida's 46 million-sf market currently at 93.6% occupancy.
AUSTIN-A 55,000-sf medical campus is on the drawing boards for far South Austin. The project will consist of seven buildings, ranging in size from 5,500 sf to 9,500 sf. Ground will break in July, with delivery in spring 2002.
CAMBRIDGE, MA-A recent, sudden increase in vacancy rates here does not mean rents will be plummeting anytime soon, according to David Begelfer, CEO of the National Association of Industrial and Office Properties.
MAPLE GROVE, MN-United Properties has re-leased 98% of the 85,000-sf building in the last eight months. Norstan Communications left the former Wedgwood Commerce Centre I building two years ago.
NEW YORK CITY-Property managers and vendors agree that when the economy was thriving and capital was flowing some poor business models came online and were unable to properly service clients, but the shakeout is eliminating them.
CAMDEN, NJ-A new 6,425-seat park on the shores of the Delaware River, across the river from Philadelphia, is the next piece of the long-term puzzle of reviving South Jersey's largest city. It will be home to the Riversharks.
MINNEAPOLIS-Padilla Speer Beardsley will anchor the four-story, 80,000-sf building, which is part of city's plans to redevelop the riverfront. The site is part of a former railroad yard and has been vacant for years.