DEALS & PROJECTS
$1.1 BILLION HOTEL OPENS IN ATLANTIC CITY
Atlantic City's first hotel casino in 13 years is now open for business. The $1.1 billion, 4.2 million sq. ft. Borgata Hotel, Casino & Spa, owned jointly by Boyd Gaming Corp. and MGM MIRAGE, features more than 2,000 rooms, 11 restaurants, 11 specialty retail shops, a 1,000-seat theater, a 50,000 sq. ft. spa and 70,000 sq. ft. of event space.
HISTORIC CHICAGO MARKET SOLD FOR $35 MILLION
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The 78-year-old South Water Market in Chicago has been sold by South Water Market Unit Sales LLC to The Enterprise Cos. for $35 million. Newcastle Limited represented the seller. The 1.3 million sq. ft. property, which consists of six warehouse buildings, will be renovated and retrofitted by the buyer to become University Commons, a 5-acre residential development.
PANATTONI BEGINS 500,000 SQ. FT. SPEC DISTRIBUTION CENTER
Panattoni Development Co. LLC has broken ground on Windham Industrial Center VIII, a 500,000 sq. ft. speculative distribution center at the company's Windham Lakes Business Park in Bolingbrook, Ill. The building, scheduled for completion in the spring of 2004, features a 30-ft. clear warehouse ceiling, four drive-in doors and 50 exterior docks.
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