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EDEN PRAIRIE, MN-SuperValu takes a $240-million restructuring hit and loses $1.7 billion in revenue with the defection of wholesale client Kmart. However, it plans to add up to 15 superstores and 120 smaller stores.
WHITE LAKE TOWNSHIP, MI-Brentwood Golf & Country Club is in a two-part transaction by Charleston, SC-based Golf Trust of America. Brentwood and Club of the Country in Louisburg, KS sell for a combined $5.25 million.
ATLANTA-Locally based Southwire Co., a supplier to major commercial real estate projects, has sold its Hawesville, KY facility to Century Aluminum Co. of Monterey, CA for $450 million.
MINNEAPOLIS-Padilla Speer Beardsley will anchor the four-story, 80,000-sf building, which is part of city's plans to redevelop the riverfront. The site is part of a former railroad yard and has been vacant for years.
ASPEN, CO-The upscale Aspen Club Lodge lands a new owner and management company, a move coming shortly after completion of a $2-million renovation. Northridge Capital has bought the property from IRG Aspen LLC. The deal puts Kimpton Hotel and Restaurant Group in as manager.
EMERYVILLE, CA-The decision paves the way for other redevelopment projects on contaminated sites in urban core areas by validating the use of eminent domain in property acquisition and by allowing the city Superfund-style cleanup authority, according to an attorney representing Emeryville.
SAN DIEGO-A San Diego-based developer has executed a joint venture and financing agreement on its condominium property near Rosarito Beach in Baja California.
ORLANDO-Tampa lawyer Bob Martinez tells US Bankruptcy Judge Arthur B. Briskman he was on a monthly retainer from 1994 to 1998, while in private law practice, for Evergreen Security Ltd., a non-licensed British Virgin Islands-based firm that operated from Downtown Orlando.
SOUTHFIELD, MI-Two new team members well-versed in commercial development work are added to Ronnisch Construction Group's roster. Edwin Glynn is named senior superintendent and Bruce Kennedy superintendent.