The Palm Beach Post from West Palm Beach, Florida on December 1, 1997 · Page 50
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December 1, 1997

A Publisher Extra Newspaper

The Palm Beach Post from West Palm Beach, Florida · Page 50

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Location:
West Palm Beach, Florida
Issue Date:
Monday, December 1, 1997
Page:
Page 50
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4 THE PALM "BEACH POST DECEMBER 1 , 1 937 Renaissance Partners mortgages six sites to raise cash f J -I ! of office'warehouse space in the Jupiter Park of Commerce, paving $825,000, one of the highest ' prices recorded recently for warehouse space, broker Rebel Cook said. "It's just reflective of how strong the market is and how difficult it is to find existing space," said Cook, exclusive broker for the business park. Susan Thomas of Touchstone Webb Realty in West Palm Beach is representing the buyer. William Edwards is selling the building to a local corporation called J.R.G., Cook said. The deal is expected to close around the first of the year. The names of the new owners were not available. The multi-bay building at 861 Jupiter Park Drive is 60 percent leased with other potential tenants in negotiations, she said. THEIR NEW KENTUCKY HOME: Catalfumo Construction and Development Inc. has opened its first office outside Florida. Catalfumo Midwest Construction and Development LLC has opened in Louisville, Ky. "This expansion will allow us to service more of our national clients in other areas of the country," said Dan Catalfumo, president and owner. Richard Taylor, executive director, and Julian Carroll former Kentucky governor and chairman for Catalfumo Midwest will head the regional office Angie Francdancia uriics aboul red estate DESPERATELY SEEKING A TENANT: Commercia! Florida Realty Partners is looking for one good broker just one who can bring a tenant for a full floor at the Plaza Center office building on Palm Beach. And Commercial Florida, the exclusive leasing agent for the Royal Palm Way building, has planned a cocktail reception to let local brokers know aD about the deal. Join representatives from the brokerage and owner American Continental Properties this afternoon from 4 to 6 p.m. in the Fountain Courtyard at Plaza Center. FINDING SPACE: A new company is buying 21,000 square feet. Renaissance Partners has taken out a $3.6 million mortgage on six of us downtown properties, using some of the equity to increase the company's working capital, said partner Andrew Aiken. SunTrust Bank of South Florida provided the mortgage recently on 101, ZYl, 314 and 400 Clematis St.; 323 Datura St.; and 100 S. Dixie Highway. "It's a line of credit more than a mortgage," Aiken said. The amount of the credit line can change as other properties are added, he said. Some of the money will be used for interior improvements in the Anthony and Wool worth buildings at 312 and 314 Clematis. "We try to take the unknowns the tenant would have in a reno- Angre Franca Lancia vation project and take the fear out of it," Aiken said. "We make a plain vanilla box on the interior, install all new electric, so all the tenants have to worry about is their plan in the building." Banana Republic will go in one of the ground floor spaces, he said. The retailer, whose deal is still in the works with .Renaissance Partners, is expected to move onto Clematis next summer, Aiken said. Ynku ' iiA A if .r'i."rrr" T'"",'P. Credit Problems O.K. Firsi Mortgage Purchase- Refinance Second Mortgages to 1 25 LTV' Consolidate Credit Cards No Income Verification n S S5 73 apr. 7.48 u O wm 15ML FIXED M Z APR 7.16 M V M UtlMI Wi i Grtdit Lqwxy'beitt E. Ko iatM&c Verification f utaocutj Dp U 971 U A The I Inmate 100i I TV Credit Une No Income Verification. F.mplowd at Scll-F.mpoved. COASTLINE MORTGAGE, INC. sb (561)687-4414 - ' - J r- P3 ? hauc htjutKi tt. aui 2000 Palm Beach lakes Boulevard T -w 4500 belvedere Rd., West Palm Beach. 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