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ATLANTA-Post Apartment Homes is selling $185 million of 10-year, 7.7% senior notes rated BBB+ by Standard & Poors and Baa1 by Moody's Investors Services. The proceeds will reduce balances on the company's revolving line of credit.
SHELTON, CT-Cushman & Wakefield of Connecticut has been awarded the exclusive leasing assignment for the current home of Philips Medical Systems' North American headquarters. The company is relocating next summer.
LOS ANGELES-Equity Office agrees to pay $28 million for a key parcel inside the controversial project, the biggest in-fill development in LA history. Whether the project can be completed is anyone's guess.
HANOVER TWP., NJ-Blanchard goes into the ground for another 150,000 sf of office space, replacing an aging office/warehouse complex the company built back in the 1950s. The property is adjacent to the Morristown Municipal Airport.
LANSING, MI-Gov. Engler: Michigan has reached settlement with tribe on casino in Marquette. The tribe will pay 8% of gambling revenues to the Michigan Economic Development Corp. to support projects that benefit the entire state.
SAN JOSE-The hope of the Valley Transportation Authority's project is that the likelihood of accidents will be decreased, and commuting over the improved 12-mile stretch of freeway will be less of a hassle.
SAN FRANCISCO-In an effort to cut expenses after the failure of an $800 million merger with Verizon Communications, NorthPoint Communications Group Inc. slashes 19% of its workforce and contemplates its leasing options in San Francisco and Emeryville.