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LOS ANGELES-Developer MBK Southern California Ltd. gets contract for $80-million facility in Antelope Valley community of Lancaster, but county will spend another $30 million on furnishings and off-site improvements.
SAN FRANCISCO-In a blow to Mayor Willie Brown and developers, Proposition L is passing, though just barely. The more restrictive of two competing measures, L permanently bans new office projects in parts of the Mission District and other rapidly changing areas.
LODI, CA-Mike Perot and Bob Brost of Champion will oversee the project, which is scheduled for completion next July. Champion's past developments have included build-to-suit projects for Nestle, General Electric, and Microsoft.
SALISBURY, NC-Winston-Salem developer Rick Stanley already has acquired 320 acres for the planned Platinum Business Park southwest of here and about 50 miles northeast of Downtown Charlotte. Development costs alone could reach $20 million.
CARLSTADT, NJ-Goldman Sachs affiliate adds 12 more buildings totaling more than 650,000 sf to its rapidly growing Garden State holdings as its aggressive acquisition program continues to move forward.
WEST PALM BEACH, FL-Rusty Mackey has no fears in creating a product he has never done before because the demand is out there, he says. He plans parks here and at Coconut Creek, FL in Broward County.
PHOENIX-Voters in Arizona rejected two growth measures that would have severely restricted development, rejected a plan to build a mixed-use development near the Grand Canyon and approved a proposal to build a $330-million stadium.
YONKERS-As part of an effort to increase its business in the New York metropolitan area, the bank announces approximately $9 million in commercial loan closings on properties in New York City and New Jersey.