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ATLANTA- The agreement provides $200,000 for a traffic study in and out of the Ansley Park neighborhood; $150,000 for a separate study of traffic within the neighborhood; and $2.8 million for traffic relief within the community.
SILVER SPRING, MD-Discovery Communications has dropped plans to lease a five-story, 320,000-sf building that was to be part of its new HQ complex. Plans remain on schedule for two other buildings totaling 700,000 sf.
ORANGE COUNTY, CA-Pacific Investment Management Co. reports positive performance for Commercial Mortgage Securities Trust. Asset quality averages a BBB rating for the mutual fund.
NEW YORK CITY-Retail Development Partners brings with it client Millennium Partners, a developer of mixed-use buildings. C&W plans to acquire other retail firms around the country over the next year.
LOS ANGELES-Sears Roebuck & Co. agrees to take 142,000 sf in a new 900,000-sf retail complex in Burbank for a home-improvement store. The complex will also feature 600,000 sf of office space and two hotels.
ATLANTA-Funds from operations for the third quarter were $22.5 million, or 75 cents per share, versus $23.7 million or 73 cents per share for the same quarter in 1999.
ATLANTA-Construction begins November 1 on developer Childress Klein's Galleria 600, an 18-story, 432,000-sf, $80 million spec tower in the Galleria complex at Interstate 285 and Cobb Parkway. Completion is scheduled for second quarter 2002.
OAKLAND, CA-The Port was previously in exclusive negotiations a partnership between LCOR and WDG, but the two sides were unable to agree on a deal, and now Hal Ellis is re-emerging as a prospect for the $200 million development project.