Articles and Archives
7/22/2003
| Construction Underway for Gordon College's Quadrangle Residence Hall
MANCHESTER, NH--Construction is underway for the first residence hall on the newly designed residential quadrangle on the Gordon College campus.
Pro Con Construction of Manchester, NH, is the construction manager for the $7.1 million design-build project and PCI Architecture is the project architect.
| | Cambridge College Expands to Lawrence
LAWRENCE, Mass.--The City of Lawrence and Cambridge College, a higher education institution that serves working adults, have joined together to bring accredited courses and degree programs to the college's newest site at 60 Island Street, in Lawrence.
Cambridge College has campuses in Springfield, MA and Chesapeake, Virginia and instructional sites at more than 20 sites throughout New England.
| | Otis Wins Contract for 7 World Trade Center
NEW YORK--Otis Elevator Company has been awarded a contract to install 32 elevators in 7 World Trade Center, the first building to be constructed as part of the redevelopment of Ground Zero in lower Manhattan. Otis is a subsidiary of United Technologies Corporation.
| | ZOLL Medical Corporation Relocates Corporate Headquarters to Chelmsford
CHELMSFORD, Mass.--ZOLL Medical Corporation, a manufacturer of non-invasive cardiac resuscitation devices which provide pacing and defibrillation, announced that it has relocated its corporate headquarters from Burlington, Mass. to Chelmsford, Mass.
The new address is 269 Mill Road, Chelmsford, MA 01824-4105.
| | Highwoods Properties Announces New $250 Million Credit Facility
RALEIGH, N.C.--Highwoods Properties, Inc., the largest owner and operator of suburban office properties in the Southeast, announced that it has closed on a new $250 million senior unsecured revolving credit facility with 10 lender banks.
The new facility was arranged and syndicated by Banc of America Securities LLC and replaces the Company's previous $300 million unsecured line of credit that would have expired in December.
| | Holliday Fenoglio Fowler Closes Sale and Two Financings for First Union Plaza in Durham, North Carolina
NEW YORK--Holliday Fenoglio Fowler's New York and Los Angeles offices teamed up to close the sale of, and two financings for, First Union Plaza, a 235,979-square-foot Class A office property in Durham, North Carolina.
Senior Managing Directors Glenn Whitmore and Joe Morningstar, and Senior Director Andrew Scandalios of HFF's New York office headed the team that marketed First Union Plaza on behalf of ING Clarion Partners.
| | Emeritus is the Winning Bidder in the Auction to Acquire Alterra Healthcare
SEATTLE & MILWAUKEE--Emeritus Assisted Living and Alterra Healthcare Corporation jointly announced that a majority owned subsidiary of Emeritus, with financing provided by an affiliate of Fortress Investment Group LLC, was the winning bidder at an auction conducted in the Alterra bankruptcy proceeding, pursuant to which Alterra was offering for sale 100% of the equity of the restructured Alterra upon its emergence from its Chapter 11 bankruptcy proceeding.
| | Newton-based HPT Buys Seven Hotels for $65 Million
NEWTON, Mass.--Hospitality Properties Trust purchased seven Candlewood Suites Hotels for $65 million.
These seven hotels have 888 suites and are located in six states: California (2); Connecticut; Massachusetts; Michigan; New Jersey; and New York. The average age of these hotels is less than three years.
| | Codman/TCN Negotiates Lease of 19,100 SF at 16 Progress Road in Billerica, MA
BILLERICA, Mass.--The Codman Company announced that Lexicon, Inc., a Harman International Company, has expanded its business and recently leased 19,100 SF of flex space at 16 Progress Road in Billerica, Mass.
Brian Morrissey, Assistant Vice President and Darryl Morse, Executive Vice President of The Codman Company, represented Lexicon in its lease at this location.
| | Paradigm Properties And Carlyle Group Lease 18,100 SF to Hearts on Fire at 99 Summer St. in Downtown Boston
BOSTON--Paradigm Properties, LLC, a Boston-based real estate investment and management firm, and the Carlyle Group announced that Hearts on Fire, a wholesale dealer of diamonds, has leased 18,100 square feet of office space at 99 Summer St. in downtown Boston.
"Hearts on Fire has become one of the best known brands in diamond business in the country and around the world today," said Kevin McCall, President and CEO of Paradigm Properties, which jointly owns the 20-story, red-roofed building with Washington D.C.-based Carlyle Group, and manages it. "We are really excited to have Hearts on Fire as our newest tenant in the building."
| | Arlington Hospitality, Inc. Outlines Hotel Disposition Plan
ARLINGTON HEIGHTS, Ill.--Arlington Hospitality, Inc. provided details of its previously announced strategic plan to sell approximately 25 to 30 hotel properties over the next two years.
Arlington Hospitality, a hotel development and management company, is the nation's largest franchisee of AmeriHost Inn hotels.
| | Real Estate Executives Launch Sam Park & Company to Solve Development Mazes for Area Developers
BOSTON-Veteran real estate executive Samuel E. Park and his partners, F. Bruce Harlamert and Peter N. Kutrubes, announced the launch of a unique real estate advisory and consulting firm that combines the roles of traditional real estate advisors, engineering firms, urban planners and equity sources.
"Sam Park has been terrifically gifted in conceiving solutions to unusual development problems that encompass a wide range of often complex issues. He has played a major role in resolving difficult infrastructure and zoning matters that would defeated lesser talents, " said Jay Doherty, President of Boston-based developer Cabot, Cabot & Forbes of New England, Inc.
| | Diversified Project Management Appoints Two New Staff Members
NEWTON, Mass.--Diversified Project Management, Inc., a Newton, Mass.-based construction-management, facilities and move-planning firm, announced that Tony Zulkeski and Michelle A. Clark have joined the firm as Senior Executive and Assistant Project Manager, respectively.
| | Swain joins Spaulding & Slye
BOSTON -- Spaulding & Slye Colliers announced that Linda D. Swain has joined the firm as Vice President of Marketing. She will be responsible for all marketing initiatives, as well as management of the group in the New England region.
Swain has over 12 years of experience marketing both products and services.
| | Equity One Purchases Butler Creek Shopping Center in Atlanta, Georgia for $12.1 Million
NORTH MIAMI BEACH, Fla.--Equity One, Inc. announced that it has completed the purchase of Butler Creek, a 95,597 square-foot retail center located in Acworth, Georgia in Cobb County, approximately 25 miles northwest of Atlanta, for $12.1 million. Butler Creek is anchored by a 59,997 square foot Kroger supermarket, includes 35,600 square feet of local tenant space and is currently 98 percent leased.
| | Equity One Purchases Sheridan Plaza Shopping Center in Hollywood, Florida for $75.3 Million
NORTH MIAMI BEACH, Fla.--Equity One, Inc. announced that it has completed the purchase of Sheridan Plaza, a 451,587 square-foot retail center located in Hollywood, Florida, for $75.3 million.
This dominant, supermarket-anchored power center includes a 65,537 square foot Publix supermarket, a 32,150 square foot Office Depot, a 30,000 square foot Ross Dress for Less, a 30,000 square foot Bed, Bath & Beyond (opening October 2003), a 9,504 square foot Eckerds and a 39,913 square foot twelve-screen AMC Theater.
| | | |
