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WASHINGTON, DC-Southern Energy Inc. has paid Potomac Electric Power Company $2.75 billion, including permitted capital expenditures, for four power plants, an office site, and assorted assets throughout the region.
SEATTLE, WA-The project proposed along Westlake Avenue will include ten floors of office space, 237 condominiums, 1,100 parking spaces and 52,000 sf of community retail space.
HOUSTON-Kaiser Aluminum is in the midst of rebuilding and upgrading a Louisiana facility that sustained extensive damage in a 1999 explosion. Reconstruction costs are setting the Houston-based corporation back $275 million.
DALLAS-Time for a change, say three business operators who sign for new space in the metroplex. The Cushman & Wakefield has brokered deals totaling 25,820 sf for industrial sites in Dallas, Lewisville and Coppell.
ROCHESTER, NY-Home Properties reports that it has entered into a binding contract to sell its affordable housing development operations for more than $16 million in a leveraged buyout transaction with Conifer Realty LLC.
FT. WORTH-It's a well-known fact in the metroplex that the Hillwood team gathers in its lobby and rings a ranch-hand's dinner bell each time a big deal is signed. This year, the bell's ringing a lot. The latest lease, 228,000 sf, could push Hillwood over its all-time record.
MIAMI-Industrial Developments International plans to break ground in January on Miramar Business Center, a $60 million, three-building industrial venture fronting the Miramar Parkway and the Florida Turnpike, 20 miles north of Downtown Miami.
ALEXANDRIA, VA-Velsor Properties has purchased the six-building, 274,000-sf Beltway Business Center for $23 million from a client of UBS-Brinson. The buildings are located less than one mile inside the Capital Beltway here.
NEW YORK CITY-Chase further demonstrates its desire for additional space despite speculation that a merger with J. P. Morgan would spell closings of office and retail space as the company now signs a lease at 280 Broadway.