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ORANGE BEACH, AL-AIG Baker Shopping Center Properties LLC has turned over the reins to an estimated $1-billion development to a two-year employee who was first on the ground for the planning stage. The top exec steps up just as the developer is ready to forge ahead on the Wharf's second condo building, the 243-unit Boggy Point.

Beason Wilkes has been named vice president of production and managing director of the Wharf, a 220-acre, mixed-use development designed to be a destination resort and entertainment location. Wilkes tells GlobeSt.com that the 243-condo Boggy Point, now 75% sold, will go vertical in 45 days. Its condo presales are yielding $425 per sf to $450 per sf. Delivery is planned for 2008.

Meanwhile, vertical work is under way on the 190-condo Levin's Bend, which was sold out in a 24-hour period at an average of $363 per sf. The condos, ranging from $300,000 to $1.2 million, will deliver in first quarter 2007.