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FORT WORTH-Crews dig into a 33,000-sf, class A office building, the second project for the $40-million Magnolia Green, a 12-acre infill development heralded as the city's first mixed-use urban village. Delivery is planned for May 2005.
PHOENIX-Robert Sheridan & Partners of Oak Park, IL, acquires the 274-unit Las Brisas Apartments from Seattle-based Olympic Investors LLC. The fully leased asset. with one-, two- and three-bedroom units, sells at a 5.9% cap rate.
PIGEON FORGE, TN-Three new developments are coming to this resort town, home to Dollywood entertainment park and adjacent to Great Smoky Mountains National Park.
ROYAL OAK, MI-A developer is promoting its plans to build a new 18,000-sf retail center in Royal Oak. The lifestyle-style development would be built on a National Scenic Byway.
FORT WORTH-Trophy Investments stages a coup for a 274,000-sf, nine-building package on five city blocks that many tried to get and couldn't. Marry the street talk to developer's talk and the full play will cost $40 million, give or take.
PHOENIX-E&V Investments, known for local industrial development, is testing the waters of the office market with a $9-million, class A project at the northwest corner of 19th Avenue and Lone Cactus Road in the Deer Valley submarket.
PHILADELPHIA-Granite Partners is marketing the 20-story, 621,348-sf, class A building where Duane Morris just inked a 15-year lease for 220,000 sf. According to published reports, the building is valued at about $105 million.
DENVER-East West Partners begins selling 23 units at Townhomes at Riverfront Park, a new neighborhood in former railroad yards behind Denver Union Station.
ROSSLYN, VA-Potomac Tower, a soaring 238,000-sf office building just across the bridge from Washington, DC, finds a new owner courtesy of a recent $106-million deal. Brookfield Properties Corp. takes the class A property off the hands of Deutsche Immobilien Fonds AG.
BEND, OR-On the heels of signing long-term leases with Best Buy, PETsMART and Bed, Bath & Beyond, Mountain View Mall redeveloper SIMA Corp. has landed Cost Plus World Market, for which it will construct an 18,200-sf building that will be surrounded by some 62,000 sf of new shop space. Existing tenants include JCPenney, GI Joe's, Food 4 Less and Ross Dress for Less.