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HOLLYWOOD, FL-A week ago, Broward County took back five of the 97 acres at Port Everglades here that it had originally leased to developer Michael Swerdlow on grounds that he had failed to build on the land in a timely fashion. The two sides have since been negotiating for a county buyout of Swerdlow's contract.
WASHINGTON, DC-An Arlington-based nonprofit signs a $100-million contract to buy the much-prized Pennsylvania Avenue development site where it plans to build new Newseum, and pay installments of $10 million. DC Council has yet to approve the sole-source transaction.
WESTWOOD, MA-The new owners, who erect and manage telecommunications towers, paid Equity Office Properties $24 million for the 15-year-old suburban property, which the company intends to occupy as back office space.
PHOENIX--Once courted by city officials, big-box retailers are now being shunned by several Valley cities that may adopt regulations to restrict size and location of retail stores.
PHOENIX-Scottsdale officials are worried about the $100-million investment of public funds in a $557-million mixed-use project being developed by Steve Ellman and are demanding that he hand over sensitive financial information.
MILPITAS, CA-The independent supplier of storage management software buys the property for development of a second Silicon Valley campus. The first one, in Mountain View, will be completed in June.
ATLANTA-The auto maker signed a seven-year lease for 132,000 sf in Suwanee Creek's Building 300 and plans to move in by the end of the year. The lease's estimated value is $9.4 million. Seefried Properties is developing the building.
WASHINGTON, DC-Graimark-Walker Urban Land Developments will buy a 23-acre parcel from the city for $3 million and build a 275,000-sf retail complex anchored by Kmart and Giant.
LARKSPUR, CA-Using funds from recent industrial property sales, Spieker Properties picks up Drakes Landing for $330 per sf. The purchase gives Spieker 390,000 sf of space and a dominant position in the submarket.