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PINEVILLE, NC-The 52-year-old Dick's Clothing & Sporting Goods chain has bought a seven-acre site for $2.9 million or $414,255 per acre ($9.51 per sf) just south of Charlotte for the first of five planned stores. The first 45,000-sf unit will open next summer. The site housed the former Cedar Springs Hospital.
DENVER-Miller Global will get 80% interest in a $412-million joint venture being formed with North Carolina-based Highwoods Properties. The initial transaction has Highwoods selling 21 office properties and four development sites to the joint venture.
ORLANDO-The Florida offices of the Indianapolis, IN-based developer were named Outstanding Developers of the Year for breaking ground on 1.6 million sf of office and distribution product with an estimated value of $200 million during 2000.
RALEIGH, NC-The deal ranks among the largest national office property transactions this year, according to locally-based Highwoods Properties Inc. The REIT is contributing $7.5 million of developable land to one of the ventures. GE Capital Real Estate will be funding up to $276 million for the various projects.
ORLANDO-U.S. District Court Judge Patricia C. Fawsett gave Patrick T. Lee the maximum sentence because he engineered the 18-year scheme to defraud the federal Customs Service and for lying at the trial. Lee owns the 500,000-sf Mid-Florida Freezer Warehouses Ltd. In Port Canaveral, FL, 60 miles southeast of Downtown Orlando.
TALLAHASSEE, FL-Lakeland, FL millionaire C.C. Dockery is pushing Gov. Jeb Bush to create the Florida High Speed Rail Authority, an agency that anti-train legislators say may decimate or bankrupt the state's entire transportation infrastructure budget.
BLOOMFIELD HILLS, MI - Upmarket retailer Nordstrom will move into the Mall at Wellington Green in Palm Beach County, FL, after inking a deal with Michigan-based Taubman.
ORLANDO-The Indianapolis, IN-based REIT is selling its estimated $43 million, fully-leased office/industrial North Florida portfolio because the area isn't large enough yet to handle the developer's delivery system.
HOUSTON-UIRT unloads an 83,300-sf shopping center in El Campo, TX, in a realignment of assets. The center, says UIRT president and CEO, is a debt-laden, non-core asset with "poor long-term characteristics.
ORLANDO-The family-operated, Seattle-based retailer won't arrive at the 1.1 million-sf Florida Mall until 2003, a year after its previously scheduled debut. The delay may hurt the south Orlando retail center as it competes with newer malls opening earlier, some analysts say. (Please see related story on Charlotte city page.)