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ALEXANDRIA, VA-Next month will see the beginning of development of a government office building here on Richmond Highway. At the end of the lease the county will have the option of buying the land.
ATLANTA-The continuing demand for Midtown shelter is indicated in the lofty $30 million price Crescent Heights Development paid for the Legacy, a three-building package sold by two-year-old Wood Partners.
SAN FRANCISCO-The Property Capital Marketplace (www.propertycapital.com), operated by registered broker-dealer Property Capital Security Inc., will offer investors single-asset and fund offerings from quality real estate sponsors.
HACKENSACK, NJ-Hampshire 99 has raised more than $22 million in capital from investors and leveraged it into a major portfolio around the Garden State and beyond. Norman Feinstein and Jon Hanson recently created the fund.
ORLANDO-With a nine-month loss of $27.2 million, locally-based World Commerce Online Inc. is bringing in former Oracle Corp. executive Joe Dugan and Federal Reserve Bank of Atlanta director Michael Poole to help company chairman Robert Shaw turn the company around.
DETROIT-The housing foundation will expand home ownership services in 30 cities with a $877,000 grant. The money will be used to offer pre-purchase counseling to prospective homeowners including down payment and closing costs. assistance.
WHITE PLAINS-County Executive Spano also has proposed having the county take over the agency designed to promote Westchester's hotel and tourism trades and he noted the success of the county's Office of Economic Development.
KENT, WA-A little more than 50% of the newly renovated building has been leased at rages from $17-$19/sf net. Intralock LLC purchased the building in August 1999 for more than $40 million.
SAN DIEGO-Some residents of toney community launch incorporation effort, saying county has let development and traffic in their area careen out of control.