STUART, VA-Elastic product maker Narroflex Inc. opts to remain in its Patrick County facility and will expand and renovate the structure in a $9 million endeavor. The company was considering moving the operation to North Carolina, a move that would have cost the area 245 jobs.
BALTIMORE, MD-Lakewood Apartments, the 393-unit multi-building residential complex in the center of the city, gets refinanced to the tune of $9.7 million. Property owner The Lightstone Group attained the financing package through Deutsche Bank at a 7% interest rate.
SUNNY ISLES BEACH, FL-New York real estate tycoon Donald Trump leant his name to the $600 million Trump Grande Ocean Resort and Residences being developed by Dezer Development for a $4 million fee, but now he's ready to become a full-fledged partner in the project.
FORT MYERS, FL-The $30 million reconstruction of the 270,000-sf Lee County Justice Center will begin in August, and Centex Rooney Construction Company has been chosen to head up the project. Completion of the new multi-part structure is scheduled for no later than 2005.
BOCA RATON, FL-Sensormatic Electronics Corp.'s former 150,000-sf headquarters sells to Atlanta, GA-based Songy Partners Limited and Boston, MA's Charlesbank Capital Partners for a reported bargain-basement price of $9.5 million.
FT. LAUDERDALE-The Ft. Lauderdale City Commission gives the thumbs-up for the proposed $150 million LightSpeed Broward Center mixed-use complex, moving the development one small step closer to realization.
WESLEY CHAPEL, FL-The Pasco County Commission has just given the go ahead for the proposed Cypress Creek development, a multi-faceted project that would bring a hotel, office space, retail space and residential units to the largely undeveloped area.
CORAL GABLES, FL-Deerfield Beach, FL-based contracting and design firm RCC Associates takes on the build out of three upscale retailers to open in the $276 million Village of Merrick Park shopping center.
WASHINGTON, DC-Global architectural and engineering firm URS Corp. reveals its Standard Embassy Design, as commissioned by the US Department of State. The "prototype" is intended to serve as a guideline for new embassies being built around the world.
MONTGOMERY COUNTY, MD-Officials of the Ritz-Carlton are searching the county for as much as 30,000 sf in which to relocate their headquarters. The hospitality organization is moving from Atlanta, GA to be nearer to its parent company, Marriott International.
