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WASHINGTON, DC-A definitive agreement for MeriStar to merge into American Skiing, forming Doral International Inc. was signed Dec. 11. If approved, the new company's assets will exceed $1.2 billion.
ORLANDO-Records show the three retailers purchased tracts at the planned 1.3-million sf Mall of Millenia in southwest Orlando. But industry sources say the mall's developer bought 83 acres from the master developer for about $19 million then deeded back two 13-acre parcels and an estimated nine-acre parcel to the retailers.
IRVINE, CA-Local real estate and construction firm is building a 185,000-sf warehouse and manufacturing facility for a subsidiary of a large Japanese chemical company, whose sales reached the $32-billion mark last year.
HOUSTON-The Wolff Cos. has parceled off 17 acres near the First Crossing Business Park to Sam's Club, a Wal-Mart subsidiary. Wolff, who had owned 65 acres, is holding onto 18 acres that will be developed for office and retail uses.
WOODBRIDGE, NJ-The states of New Jersey, Connecticut and Massachusetts are being represented in a package of transactions, with four New England properties, as they are tied up as a single sale.
ORLANDO-The official Orange County real estate records show the three retailers purchased individual tracts at the planned 1.3-million sf Mall of Millenia in southwest Orlando. But in reality, Forbes Taubman Orlando LLC Millenia, the mall's developer, bought 83 acres from the mixed-use venture's master developer, Orlando Southwest Partners, for about $19 million or $228,915 per acre ($5.26 per sf), then deeded back two 13-acre parcels and an estimated nine-acre parcel to the retailers.
BOCA RATON, FL-The City Council is studying several proposals that would change the way proposed ventures are approved. The city is fearful that the rate of growth may endanger Downtown's character.
HOUSTON-The planned merger of Coastal Corp. and El Paso Energy Corp. has nothing to do with the sell-off of 253 convenience store-gas station combos on the eastern seaboard, says the company's CEO. The acquisition and the merger are expected to close by the end of this month.
WASHINGTON, DC-The US Department of Housing and Urban Development's Dec. 13 bid date should have no adverse affect on closing its multifamily and health care loan assets sale, says agency officials.
SOUTH SAN JOSE, CA-The developer says work on utilities and surrounding streets could begin as early as January. The location places Legacy in the middle of one of Silicon Valley's hottest development areas.