by Associated Press Published: April 2,2012
Tags: bankrupt, bankruptcy, casinos, Commercial Real Estate, gambling, gaming, hospitality, hotel, lodging, real estate, tourism, tourists, visitors
NATCHEZ — Bankruptcy court filings show that a creditor is buying the Grand Soleil Hotel and proposed casino property for about $5.6 million. The Natchez Democrat reports RJB Financing, LLC will pay with about $4.1 million cash and a $1.5 million letter of credit. In May 2011, businesses reportedly owed a total of $1.6 million [...] [...]
by Associated Press Published: March 29,2012
Tags: acquisition, casinos, Commercial Real Estate, condominium, developer, economic development, foreclosure, gambling, gaming, hospitality, hotel, marina, merger, municipal government, purchase, resort, tourism, tourists, visitors
VICKSBURG — Grand Station Casino has closed in Vicksburg, affecting 230 employees. The Vicksburg Post reports casino officials began escorting employees from the casino about 11 a.m. yesterday and security guards turned prospective gamblers away. Vicksburg Mayor Paul Winfield says the city would work with companies interested in acquiring the casino. The action came after [...] [...]
by MBJ Staff Published: March 22,2012
Tags: acquisitions, Commercial Real Estate, facility, industrial, investing, investment, investments, land, property, purchases, real estate
OLIVE BRANCH — Monmouth Real Estate Investment Corporation of Freehold, N.J., has acquired a 234,660-square-foot industrial building located at 8644 Polk Lane, Olive Branch, at a purchase price of $16.2 million. The property is net-leased for 10 years to Anda Pharmaceuticals Inc., a distribution division of Watson Pharmaceuticals Inc. The building is situated on approximately [...] [...]
by MBJ Staff Published: March 21,2012
Tags: commercial development, Commercial Real Estate, construction, downtown, mixed-use development, parking, parking garage, real estate, residential development, residential real estate, robotics
JACKSON — Full Spectrum has chosen Boomerang Systems Inc., a designer and manufacturer of fully automated robotic parking and self-storage systems, to provide a 480-space automated parking garage as part of the initial phase of the Old Capitol Green redevelopment project located in Jackson. The cost of the project was not disclosed. Old Capitol Green [...] [...]
by Associated Press Published: March 19,2012
Tags: commercial development, Commercial Real Estate, disaster, disaster recovery, hurricanes, infrastructure, island, natural disaster, real estate, resort, severe weather, tourism, tourists, tropical weather, visitors, Weather
BILOXI — The Biloxi City Council will consider rebuilding more infrastructure damaged by Hurricane Katrina and a resort on Deer Island this week. During today’s meeting, The Sun Herald reports Larry Mitrenga will appeal the Planning Commission’s decision that he not be allowed to build a resort on Deer Island. Mitrenga is asking the council [...] [...]
by Ted Carter Published: March 12,2012
Tags: Belhaven University, Ben Allen, Commercial Real Estate, County Line Road, Duckworth Realty, Highland Colony, I-220, I-55, LeFleur Bluff Tower, Matt Forsyth, Meadowbrook Office Park, Parkway Properties, Ted Duckworth
Jackson’s Central Business District office market is starting 2012 much as it did 2011 with slightly more than a quarter of available space empty. That’s the good news. The CBD wouldn’t be keeping its current occupancy levels had expected lease renewals not come through, commercial real estate professionals say. Parkway Properties’ 120-building fourth-quarter office market [...] [...]
by Associated Press Published: March 6,2012
Tags: anglers, angling, Commercial Real Estate, courts, entertainment, fishing, harbor, judge, lawsuit, marina, outdoors, real estate, tourism, tourists, visitors
BAY ST. LOUIS — A judge has dismissed a Bay St. Louis family’s lawsuit it filed against the city and the state over the future use of their property as a marina. Kenneth F. Murphy, Ray J. Murphy and Audie R. Murphy, who own the beachfront site where the popular Dan B.’s tavern and restaurant [...] [...]
by Associated Press Published: March 6,2012
Tags: annex, annexation, Commercial Real Estate, health, health care, hospitals, land, medicine, municipal government, real estate, residential real estate
OXFORD — Oxford officials will not oppose property owners wanting their 160 acres brought into the city limits. The Oxford Eagle reports the Board of Aldermen told City Attorney Pope Mallette to notify the Lafayette County Chancery Court that it will not object to the annexation request. The property owners are hoping to sell their [...] [...]
by Associated Press Published: March 6,2012
Tags: arts, commercial development, commercial property, Commercial Real Estate, community development, construction, cultural tourism, economic development, entertainment, financing, funding, Heritage, historic, histoy, loan, music, nightclubs, real estate, restaurants, tourism, tourists, visitors
JACKSON — Developers of the Farish Street Entertainment District have taken the first step toward securing money needed to finish construction on the first block of the $100 million project in downtown Jackson. Yesterday, the Jackson Redevelopment Authority approved a non-binding agreement with Farish Street Group for a $10.2 million loan. As collateral, developers would [...] [...]
by Associated Press Published: February 28,2012
Tags: banking, Banks, bed and breakfast, Commercial Real Estate, Conventions, finance, financial institutions, foreclosure, historic structures, history, hospitality, lodging, meetings, property, real estate, tourism, tourists, vacations, visitors
NATCHEZ — United Mississippi Bank was expected to assume ownership of historic Monmouth today in foreclosure proceedings. Warren Reuther, president of New Orleans Hotel Consultants, said his company has met with bank representatives about the possibility of managing Monmouth. Reuther said the bank intends to do everything they can to keep Monmouth open because of [...] [...]
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