(To read more on the debt and equity markets, click here.)
GLENDALE, AZ-A $28.6-million loan is backing the verticaldevelopment of the 112,036-sf Citadelle, which will beginfoundation work next week. The project--74,648 sf of retail and37,388 sf of office--has an estimated all-in development cost wellnorth of $30 million.
According to Louise Stephens, co-owner of Glendale-basedStephens Land Co., the shell space will be turned over to tenantsin the spring, most of which are looking to be open for business bythe fall. The project is 60% preleased although the dirt work'sjust begun at the intersection of 59th Avenue and Utopia Road.
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