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CHARLOTTE-Morehead Properties Inc. paid $665,000 or $26 per sf for a foreclosed 25,000-sf athletic facility, but converting the high-ceilinged, large glass-windowed court area into office space required ingenuity. The developer did it by creating a second level with reinforced steel beams.
SANFORD-Rami Yosefian, a commercial fixer-upper specialist, is investing $250,000 to develop the estimated 50,000-sf site purchased from the Seminole County School Board. One appraisal put the dirt's value at $435,000. Yosefian was the only bidder.
AUSTIN-The Austin Board of Realtors has to share, says a federal judge, who lifted an injunction to give e-Realty Inc. access to MLS listings for on-line posting of their properties in the region. The realtors board, which filed a lawsuit in the spring, has since changed a policy--in line with the National Board of Realtors--and is considering asking the court to dismiss the case.
ORLANDO-Chase Treasury Technologies Corp. wants a backup security site for its planned three-building Tampa, FL campus where the company will make electronic payments to customers of more than $1.2 trillion per day. The estimated construction cost of the 61,413-sf distribution building is $6.14 million.
DENVER-Shea Properties Inc. has broken ground on a $24 million, two-building office campus for a subsidiary of Visa USA in the Highlands Ranch Business Center. A 50,000-sf data center will deliver in June and a 110,000-sf office building in April 2002.