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NEWHALL, CA-Curtain is raised on restored theater, which local officials hope will ignite more development and redevelopment in their quaint but tired central business district.
ATLANTA-The acquistion of Fort James Corp. for an undisclosed price makes Georgia-Pacific Corp. the leading global producer of the specialty item and widens its presence in the retail sector.
MIAMI-The 31,546-sf, former Miami Board of Realtors' structure off Downtown at 2000 and 2040 Coral Way sold for $2.11 million or $66.95 per sf. Seventeen years ago, the property went for $2.17 million or $68.78 per sf.
DALLAS-It's been a very good year for Turner Corp., and it's going to get better. The Dallas-based firm is predicting a record high of $5.7 billion in the value of new contracts by year's end.
HOUSTON-Three Riverway and the Cabot Oil & Gas Building have new owners in deals that may be signaling a year-end flurry in the office tower market. Three Riverway fetches a reported $130 per sf and the Cabot Building, $160 per sf.
PURCHASE, NY-National Realty reports it has begun construction on the redevelopment of the Orange Plaza shopping center that will eventually feature such tenants as Wal-Mart, Kohl's, Circuit City and Bed Bath & Beyond.
CHARLOTTE-The 25-acre project along five blocks of abandoned land on the city's blighted West Trade and Fifth Streets in the Third Ward will encompass 1.1 million sf of office for the bank's technology center; 75,000 sf of retail; and 600,000 sf of multifamily.
STOCKTON, CA-Despite the Chapter 11 filings of theater chains around the nation, Krikorian Premiere Theatres says it will design, own and operate a 90,000-sf downtown theater here in an effort to revitalize the aging business district.