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NORTH PALM BEACH, FL-Locally-based Bankrate Inc. doesn't deny signing a 10-year, 40,000-sf lease for a new headquarters at Abacoa Business Park in Jupiter, FL, but argues the space wasn't ready when it wanted to move in. That voided the contract, the tenant maintains. North Palm Beach is 90 miles north of Downtown Miami.
PHOENIX-A freeway that has already spurred development in north Phoenix is sure to bring even more since the announcement that its final leg will be completed 18 months ahead of schedule.
HUNTERSVILLE, NC-GE Polymerland Inc. and GE Sealants & Adhesives could aggregately employ 500 next year in the total 115,000 sf of newly-leased space at Huntersville Business Park and on NorthCross Drive. Huntersville is five miles north of Downtown Charlotte.
DALLAS-Susan Gwin, a commercial real estate veteran, is the first woman to receive the prestigious Stemmons Award in its 25-year history. The honor is bestowed by peers, ranking tenure, production and standards as part of the criteria.
MINNEAPOLIS-The team and the city are not enthusiastic about terms for the projects, which is estimated to cost up to $300 million. The Twins complain that other teams pay just a third of the money required to build a stadium.
WASHINGTON, DC-An industry survey co-author examining the level of loan delinquency costs historically says that the market has been continuing, and successfully for that matter, to overcome the woes of the last recession.
SEATTLE-Thompson Architects of Seattle have collaborated on the latest design for the 24-story mixed-use project, which incorporates a 90-year-old terra cotta fagade done in Italian Renaissance style that graces the existing building on the property.
BELLEVUE, WA-The owner of the new building is Bentall US Corp. The terms of the lease were not immediately available, but listings placed the price of the Eastgate area space between $26 and $28/sf.
CHICAGO-The offering pays off the bridge credit incurred from Cornerstone merger. Funds will also reduce general line of credit to zero. The securities have been rated Baa1 by Moody's and BBB+ by Standard & Poor's and Fitch.
MENLO PARK, CA-Wells Fargo Bank, as sole lead agent, arranged the syndicate of 11 banks, which included Bank of America as syndication agent and Commerzbank AG as documentation agent. The pricing is LIBOR plus 70 basis points.