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Behringer Harvard: 'Technical default' will have little impact on Frisco Square Addison-based Behringer Harvard says it's current on interest payments on Frisco Square and expects its "technical default" to have minimal short-term impact on the operations of the mixed-use property north of Dallas. Behringer Harvard Opportunity REIT I Inc. defaulted on the balance of $44.1 million in loans it took out for its investment in Frisco Square. The debt came due on Jan. 28 on six tracts of land for the Frisco project, according to a Securities and Exchange Commission filing. Behringer Harvard said it was working to extend the maturity date on the loan...
Could a downtown Greensboro performance center go in the South Elm St. development? The Redevelopment Commission of Greensboro anticipates having a master development agreement in place before the end of the year and selling seven acres of city-owned land to a developer in December for a mixed-used project at South Elm and Lee streets. The commission gave a nod to the timeline during its meeting that laid out the three-step process leading up to breaking ground next year on the $42 million project that is expected to include 168 market-rate apartments, retail space, a 75- to 90-bed hotel and 25 town house or condo units...
MC Companies, Clark-Wayland form joint venture Scottsdale-based MC Companies and Phoenix-based Clark-Wayland have merged to create a joint venture called MC Clark-Wayland. The venture will focus mainly on development and construction of new multifamily projects in Phoenix and Tucson. The combined company has about 175 full-time employees. It currently has two projects under construction in Tucson. “Together, the company is a full-spectrum real estate company with a depth that investors will appreciate,” said Jere Clark, principal of Clark-Wayland...
Real Deals: Littleton shopping center sold for $4.7M; Thorton apts. sold for $30M Transmark Co. of Greenwood Village has bought the Broadridge Plaza shopping center in Littleton. The center, on south Broadway and West Ridge Road, sits on 10 acres and includes six buildings with 79,545 square feet of retail space. It was 91 percent occupied at the time of the sale. Transmark, doing business as Broadridge Plaza LLC, bought the property for $4.7 million from sellers Broadridge Jero LLC, the majority owner, and Broadridge Brad LLC. The new owners plan improvements to the common areas and building exteriors...
Central Ohio Inc.: After the beating, housing market back to ’98 levels  Central Ohio’s housing market bore the brunt of the recession and lending freeze in 2008 and 2009, but its decline appears to be slowing given the sales performance last year. Sales of single-family houses and condos in the region tumbled nearly a fourth from 2006, when Ohio’s housing troubles picked up speed. But prices have fallen at less than half that rate, according to the Columbus Board of Realtors. Columbus’ housing market peaked in 2005 for sales and selling prices, but last year’s sales put the market back to 1998 levels, the statistics show...
Top of the List: Franchisers  Every week in “Top of the List,” denverbusinessjournal.com highlights one of our exclusive lists that appear in the print edition of the Denver Business Journal. The weekly lists rank Colorado businesses and other entities in a host of categories, from law firms to lenders. Online, we give you basic information on the top five from each weekly list. The full list, including additional data on the top five, is available to DBJ subscribers only. And the lists are compiled each year in our annual Book of Lists, which is sent to subscribers and is available for purchase as a desk reference or in digital format...
Cassity Jones Lumber to consolidate North Texas operations in Terrell Longview-based Cassity Jones Lumber has purchased an existing 25-acre lumber distribution facility in Terrell, and plans to consolidate its North Texas operations in the city. The consolidation will bring roughly 30 employees into Terrell, and will consolidate the company's area lumber distribution from Cedar Hill and Mabank. "This is all part of our transformation," Chief Operating Officer Jeb Jones said. "We are moving away from being a home center and we are only supplying professional custom home builders...
Fulton bets on Super Bowl commercial  It’s been a rough few years for home builders, but Tempe-based Fulton Homes thinks it has scored a touchdown with a commercial that will run during the Super Bowl Sunday. The 30-second spot will air on KPNX Channel 12 during the final break in the game. I bet they’re hoping for a close contest that goes down to the wire. Fulton will tout its home trade-in program. The commercial was created by knoodle, a Valley advertising and PR firm. “The trade-in program has been very successful for us...
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