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SUNNY ISLES BEACH, FL-The development firm that struck gold years ago when it turned several hundred acres of northeast Miami-Dade swampland into the affluent Aventura community is bringing its act to this up-and-coming town between Miami and Fort Lauderdale.
ORLANDO-Walt Disney World loses argument to bar the Orlando Sentinel from contacting individual members of the six-member jury that came in with a verdict of $240 million in damages against the theme park operator on Aug. 11. Disney is appealing the verdict and seeking a new trial. The company was convicted of stealing plans from another developer to build its existing Wide World of Sports Attraction.
SAN DIEGO-In first major step toward liquidation, the REIT agrees to sell 15 shopping center properties totaling 3.5 million sf to a group led by Cleveland-based Developers Diversified.
CORAL SPRINGS, FL-A Miami-based builder is setting a tight, six-month construction schedule for a new 45,000-sf office building under way in this north Broward County city. Estimated construction cost is $2.5 million, or $55.56 psf
RALEIGH, NC-Although Edwards Theaters has filed for protection from its creditors under Chaper 11 of the U.S. Bankruptcy Code, California-based developer PLC Commercial is going ahead with plans for MarqE, the entertainment component of a planned open-air retail and dining complex here just off Capital Boulevard.
COLLEGE STATION, TX-It's a sign of the times: 60% of the respondents to a Texas Association of Realtors membership survey say they are doing business on the Information Highway, according to results released from the Texas A&M Real Estate Center in College Station. The highest use reported by respondents is property listings followed with a close second for advertising purposes.
CHARLOTTE-The Charlotte region is expected to begin a five-year slowdown that could approach a 24% decline from last year's $4.4 billion total value of projects, predicts F.W. Dodge, McGraw Hill of New York. Karnes Research Co. of Atlanta, however, projects the commercial sector's solid growth will continue.