AMERA CORP. is planning a $95 million luxury mixed-use project in downtown Boca Raton. The 9-story building, 200 E. Palmetto Park Road, will accommodate 146 condominiums, as well as 340,000 sq. ft. of retail and office condos. The site currently is home to the Washington Mutual bank and office building. Construction on the new building is expected to begin in the fourth quarter, when the bank will occupy a newly constructed facility at the site.
HINES' U.S. CORE OFFICE FUND has acquired the 278,586 sq. ft. 600 Lexington in New York City from Sumitomo Life Realty. The fund, a strategic partnership between Hines and Sumitomo Life Realty (N.Y.) Inc., a subsidiary of Sumitomo Life, was formed to acquire geographically diverse core office buildings in the U.S. The fund also has recently acquired 499 Park Avenue and 425 Lexington in New York City, as well as 1200 19th Street in Washington, D.C.
EMPIRE COMMERCIAL REAL ESTATE has opened the 420-unit Barrington Place, a $50 million luxury apartment community in Rancho Cucamonga, Calif. The complex is nearly 25% occupied, with construction scheduled for completion in June.
