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DENVER-Vicorp Restaurants has taken a hit in its fourth quarter, witnessing a 60% drop in net income. Nonetheless, the Denver-based chain continues its building plans for four more locations.
GASTONIA, NC-Millionaire Robert Johnston plans to franchise his Safe Homes of America and Safe Inns of America concepts to conventional multifamily developers, historically skeptical of breaking from tradition. Gastonia is 20 miles west of Downtown Charlotte.
ATLANTA-After fully pre-leasing its first 506,000-sf spec structure at the 100-acre Braselton Business Park, the Indianapolis, IN-based REIT is breaking ground in February on a 515,000-sf distribution center that will lease for $3.50 per sf to $6.25 per sf. The estimated hard construction cost of the project is $50 million.
CONCORD, NC-J&B Development and Management is scheduling a February ground-breaking on Moss Creek, a 513-acre venture that will comprise 500,000 sf of retail, 400,000 sf of office and 1,430 townhomes and single-family residences. The site is 20 miles north of Downtown Charlotte.
JACKSON, MS-The Atlanta office of Cushman & Wakefield brokered the $17-million sale of the 169,152-sf, 13-year-old, four-building asset originally developed by Trammell Crow Co. on 3.26 acres.
NEW ROCHELLE, NY-New Roc City Developer Louis R. Cappelli and New Rochelle Mayor Timothy Idoni were on hand for a recent pre-opening party for New Roc 'n Bowl, a 24,000 sf entertainment center at the New Roc City.
WAYNE, NJ-For an undisclosed price, International Paper, the world's largest paper and forest products company, has sold 1600 Valley Road. In its stead will be an expanded business school.