$46 Million loan approved for building Pier Park North
March 18, 2014 | Posted in that's nice. | By eagleeyeestimates@gmail.com
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PANAMA CITY BEACH — Financing for construction of Pier Park North shopping center has been approved, developers announced Tuesday.
U.S. Bank and a joint venture consisting of The St. Joe Company, CASTO and Strategic Retail Advisors announced Tuesday they have closed on a $46 million construction loan that will finance the new shopping center.
“Pier Park North, a 360,000 square foot shopping center, will be located across from Pier Park Lifestyle Center on U.S. 98 near the intersection of State 79 in Panama City Beach.
“The development of the Pier Park North shopping center is a positive sign for the local economy and we are excited to support the project with financing,” said John Hart, market manager for U.S. Bank Commercial Real Estate in Columbus in a prepared statement.
Pier Park North anticipates opening in spring of 2014.
Tenants will include Bed Bath & Beyond, Lee Nails & Spa, Mattress Firm, Men’s Warehouse, PetSmart, Rooms to Go and Shoe Carnival. The new tenants will join fellow national retailers Dick’s Sporting Goods, Michaels, Pier 1 Imports and Kirkland’s, which committed last fall to leasing space at Pier Park North.
“CASTO is pleased to have U.S. Bank as our lender for Pier Park North,” said Brett Hutchens, partner at CASTO. “We appreciate U.S. Bank’s commitment to funding both of our major, recent developments, Park West Village and now Pier Park North.””
The source doesn’t say who the contractor is that gets this whopper of a job, but Hoar Construction signs have been spotted on site. There are also other signs up that are not listed in this article as coming stores, such as Ross.
Original article can be seen by clicking here, which links to the Panama City News Herald site. The article was written by Randal Yakey
EagleView Quick Squares available on your mobile device!
March 18, 2014 | Posted in Stay in the Loop | By eagleeyeestimates@gmail.com
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Our friends at Roofers Coffee Shop do a great job of keeping us informed! We just found out that EagleView Technologies and Pictometry now have a great mobile application that allows you to purchase the “square footage, predominant pitch, custom cover with your logo, and professional report, that’s easily upgradeable to a custom report”! All for just $18.00!
Visit the Roofers Coffee Shop for their full post and to sign up by clicking here.
*We are not affiliated with EagleView Technologies, and we do not own the logo pictured above, this is simply an informative post to help contractors stay abreast of new and useful tools.
