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DALLAS-It's been a very good year for Turner Corp., and it's going to get better. The Dallas-based firm is predicting a record high of $5.7 billion in the value of new contracts by year's end.
HOUSTON-Three Riverway and the Cabot Oil & Gas Building have new owners in deals that may be signaling a year-end flurry in the office tower market. Three Riverway fetches a reported $130 per sf and the Cabot Building, $160 per sf.
PURCHASE, NY-National Realty reports it has begun construction on the redevelopment of the Orange Plaza shopping center that will eventually feature such tenants as Wal-Mart, Kohl's, Circuit City and Bed Bath & Beyond.
CHARLOTTE-The 25-acre project along five blocks of abandoned land on the city's blighted West Trade and Fifth Streets in the Third Ward will encompass 1.1 million sf of office for the bank's technology center; 75,000 sf of retail; and 600,000 sf of multifamily.
STOCKTON, CA-Despite the Chapter 11 filings of theater chains around the nation, Krikorian Premiere Theatres says it will design, own and operate a 90,000-sf downtown theater here in an effort to revitalize the aging business district.
WASHINGTON, DC-The MRB has issued sanctions against seven lenders, resulting in losses of approval authority from three to five years for each of these institutions and fines from $100,000 to $220,000.
SEATTLE-"The preleasing we've been seeing is previously unheard of in the Northwest marketplace," says Rob Aigner, executive managing director for Colliers International in Seattle. "Certain industries are saying 'we've got to be there'. It's sort of a herding instinct.