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CBRE has completed the sale of two office condominium units at Garnett Plaza, a new flex business park in Boothwyn, Pa. |
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CONDO UNITS SOLD AT GARNETT PLAZA
BOOTHWYN, PA. — CB Richard Ellis (CBRE) has completed the sale of two office condominium units at Garnett Plaza, a new flex business park in Boothwyn. The units total 9,120 square feet and are located in the first building constructed within the park. Steve Italiano of CBRE represented the seller, Wood Duck Real Estate, and the buyer, 3060 LP, in the disposition. The sale price was undisclosed.
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JV TO DEVELOP 314-ACRE MIXED-USE PROJECT
JOLIET, CALIF. — Los Angeles-based O&S Holdings LLC has partnered with Hollywood, Fla.-based Strategic Retail Development to develop Bridge Street Town Centre, a 314-acre, 3.5 million-square-foot mixed-use project in Joliet. Located at the intersection of Interstates 55, Interstate 80 and Route 59, the approximately $1 billion project will feature 1.7 million square feet of upscale small shops, big-box retail stores and a variety of restaurants; a 60,000-square-foot upscale movie theatre; 96,000 square feet of office space, which includes office space above retail space; at least two hotels and a variety of residential units. Groundbreaking is slated for early 2009, with completion scheduled for 2010. Baltimore-based Development Design Group and Chicago-based OWP/P are providing design and architectural services for the project.
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O&S Holdings and Strategic Retail Development are developing a 3.5 million-square-foot mixed-use project in Joliet, Ill. |
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O&S, STRATEGIC RETAIL RECEIVE APPROVAL FOR $1 BILLION MIXED-USE PROJECT
JOLIET, ILL. — Los Angeles-based O&S Holdings and Hollywood, Fla.-based Strategic Retail Development have received unanimous approval from the Joliet City Council for the development of Bridge Street Town Centre, a 314-acre, 3.5 million-square-foot mixed-use development to be located at the intersection of interstates 55 and 80, and Route 59. The nearly $1 billion project, which is scheduled to break ground in early 2009, will comprise approximately 1.7 million square feet of retail and restaurant space; 96,000 square feet of Class A office space, including some offices above retail; a 66,000-square-foot upscale movie theater; at least two hotels and a variety of residential units. O&S will be handling retail leasing for the project, along with Strategic Retail and the Chicago office of CB Richard Ellis. Baltimore-based Development Design Group is designing the project, with Chicago-based OWP/P serving as the architect and engineer of record. Completion is scheduled for 2010.
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Regency Centers is developing The Shops at Stonewall in Prince William County, Va. |
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REGENCY CENTERS TO DEVELOP THE SHOPS AT STONEWALL
PRINCE WILLIAM COUNTY, VA. — Regency Centers is developing The Shops at Stonewall, a $52 million, 318,000-square-foot retail center in Prince William County, located at the intersection of Lee Highway and Old Carolina Road. The center is situated on 40 acres and will be anchored by a 140,000-square-foot Wegman’s supermarket, slated to open this fall. Other tenants include Staples, Ross Dress For Less, Bed Bath & Beyond and Suntrust Bank. Construction began last May and is projected to complete this summer.
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The W Hotel and Residences project in Austin, Texas, received a $165 million loan to finance its construction. |
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CORUS CLOSES $165 MILLION LOAN FOR W HOTEL AND RESIDENCES
AUSTIN, TEXAS — Corus Bank has closed a $165 million loan to finance the construction of the W Hotel and Residences in Austin. The 37-story condominium and hotel project, which is located at 308 W. Second St., will feature 198 residential condominiums, 252 hotel guest rooms, 60,000 square feet of retail and office space and a live performance venue. Amenities at the W Hotel and Residences include a signature restaurant with an outdoor terrace, an outdoor grill area, a spa and fitness center, two outdoor pools, a courtyard garden with private cabanas, meeting space and concierge services. The borrower, CJUF II Stratus Block 21 LLC, is an affiliate of Stratus Properties and Canyon-Johnson Urban Fund II LP.
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Prevent Droughts from Putting a Damper on Your Commercial Landscape
By Margie Holly
Communications Manager, Brickman
In commercial real estate, the importance of curb appeal cannot be underestimated, particularly in today’s market. In order to keep vacancies low and property values high, it is essential for buildings to look their best year round. To keep commercial properties in tip-top condition, a well-maintained landscape is a must. Unfortunately, in Southeastern states like Georgia and the Carolinas, frequent droughts and stringent water restrictions have turned landscaping into a real challenge in recent years. However, with a little forethought and careful planning, there are ways to keep a commercial landscape green during even the driest of months. Consider the following information as while working with a landscape contractor to develop a drought-tolerant landscape plan.
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