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Big River building slated for retrofit

By Christine Buttorff - The City Paper
July 18, 2006

The look of Lower Broadway will soon be changing, and not just with the possible beginning of construction of a Westin hotel that would loom above the street's honkytonks.

Starting this fall, the building housing the Big River Grille and Brewing Works restaurant will be retrofitted with two extra floors and several terraces, providing 28,000 extra square feet of commercial and office space.

Nashville-based Everton Oglesby Architects is handling design work.

Several months ago, California-based real estate investment company Tower Investments LLC purchased the Big River building, located at 111 Broadway, and two other Lower Broad downtown properties.

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'Lay of land' complicates, enhances development

By Courtney Watson - The Tennessean
May 16, 2006

Design of equestrian community takes almost two years
 
LEIPER'S FORK COMMUNITY - More than 500 acres previously owned by Cal Turner Jr. is slated to become an equestrian community known as Beechwood Plantation.
 
Northern California development firm Tower Land Co. has announced plans for a 45-lot development for the Leiper's Fork-area property off Bailey Road.
 
"It's literally taken nearly two years to design this development because of the lay of the land, the beauty of the land and the community," said Alex Marks, Tower Land Co. senior vice president.
 
Marks said Tower was especially attracted to Leiper's Fork because of the unique community there.

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Building boom makes its way to Leipers Fork

By Janel Watson - Nashville Business Journal
May 12, 2006

California-based Tower Land Co. has broken ground on the second of three equestrian communities that will cover a total 1,075 acres in historic Leipers Fork just outside of Franklin.
 
Beechwood Plantation is a 530-acre residential development off Bailey Road. At completion, it will hold a total of 45 homes and include up to eight miles of custom-designed horse trails.
 
Tower Land also has underway a similar 345-acre development dubbed Traceland Estates on Parker Branch Road. A third of its units have been sold and five of the 30 planned homes have been completed.

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Calif. family likes look of region's real estate

By J. Holly Dolloff - Nashville Business Journal
February 3, 2006

A family-owned California investment firm is sinking big bucks into Middle Tennessee, with the purchase of three prime downtown commercial and retail sites and plans to develop a residential community in Leiper's Fork.
 
Tower Investments LLC recently paid $3 million to buy 411 Broadway, the former Heilig-Meyers Furniture store, from BudMark Investments; $2.1 million for 401 Broadway, which houses Merchants restaurant; and an undisclosed sum for 111 Broadway, the building occupied by Big River Grille.
 
And Tower, which owns various types of property around the country, has bought 1,500 acres in Leiper's Fork, with plans for four "equestrian community" developments featuring lots ranging from two to 50 acres.
 
Tower's David Marks says the downtown buying spree was spurred by the company's involvement in Leiper's Fork.

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Binswanger Acquires Two Properties on Behalf of Major Investment Firm

By Atlanta-(Business Wire) Press Release
February 3, 2006

Representing Tower Investments, LLC, Binswanger has negotiated the purchase of a 590,000 sq. ft. facility on 36 acres in Anderson, Ind., and a 314,052 sq. ft. facility on 40 acres in Somerset, Ky. The properties are located at 1305 West 29th Street and at 1278 Highway 461 respectively. The two transactions totaled nearly $2.5 million.
 
Tower Investments LLC is headquartered in Northern California and has diverse real estate holdings throughout North America. The firm is broadening its portfolio with these purchases and planning to retrofit both facilities. The properties will then be available for lease.
 
In addition to the buyer, Binswanger also represented HLI-Kentucky, Inc., former owner of the manufacturing facility in Somerset. Binswanger has handled the disposition of several underutilized properties for this company recently.

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Hospital plans revamped to save money

By Carol Holmes - Tehachapi News
January 25, 2006

With the deadline looming to have the architectural design for the hospital finalized, the Tehachapi Valley Healthcare District board approved a final design last week that stays within the district's financial abilities.
 
"If we build the building that was last presented to the board of directors in November, it is now projected that the cost will be in excess of $21 million," said Ray Hino, CEO for the TVHD. "We currently have approximately $16.4 million to spend on the project."
 
He said the $16.4 million includes a $15 million bond, $500,000 from a federal grant, $250,000 from the Guild of the Tehachapi Hospital, $400,000 from sale of land and approximately $200,000 from the hospital foundation.
 
Another $100,000 will come from Tower Investments, which pledged to give that amount for the construction of the hospital if the facility was built on the Broome site.

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More Jobs Headed to Galesburg

By Jessica Wheeler - HOI Channel 19 (ABC) News
December 22, 2005

More jobs could soon be headed to Galesburg: the new owners of the old Butler plant have big plans for the area.

Tower Investments and the Industrial Reality Group, both out of California, purchased the property last week. The companies specialize in redeveloping old industrial lots.

They hope to break up the more than 107 acres of land and 950-thousand square feet of buildings and sell or rent them to multiple companies, creating a massive Galesburg Industrial Center.

The Galesburg Regional Economic Development Association, or GREDA, thinks this will bring great things to the city.

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Clarion to showcase renovations

By Dave Dreeszen - Sioux City Journal
December 7, 2005

Clarion Hotel staff geared up on Tuesday to officially celebrate the top-to-bottom renovation of the downtown Sioux City hotel.
 
The former Plaza Hotel, which became part of the national Clarion chain earlier this year, invited more than 350 local leaders to a grand reopening party from 5 to 7 p.m. today.
 
"It's going to be a major event for the hotel," said David Golida, the Clarion's director of sales.
 
Hotel staff will showcase more than $2.8 million in renovations, which include refurbishing guest rooms and the lounge and restaurant, upgrading amenities and adding new guest services.

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Downtown Condo Craze Goes Mondo


New Residential Projects in Downtown Little Rock/North Little Rock
By George Waldon - Arkansas Business
October 10, 2005

If anyone is concerned there just aren't enough condominiums in downtown Little Rock/North Little Rock, worry no more.  At least 400 condos are on the drawing board or under construction with the first batch of new units arriving in 2006.
 
Eight projects of varied sizes are pursuing urban dwellers in a trendy market that could prove challenging for some developers.
 
"This will really be a good test for the depth of the downtown condominium market," said Jimmy Moses, partner in Little Rock's Moses Tucker Real Estate, Inc.  "I'm excited to see all these projects and hope they all succeed.  That's what is going to make downtown Little Rock and North Little Rock more vibrant."  His well-wishing isn't just nice-guy banter.

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Investment Group to Redevelop Lafayette Building, Others for Condos

By Lance Turner - ArkansasBusiness.com Daily Report
September 19, 2005

Six months after buying the Lafayette, Arkansas and M.M. Cohn Buildings, a Woodland, Calif., real estate development group unveiled plans to renovate those and two others for condominiums, office and retail space.
 
Lafayette Square, developed by Tower Investments, LLC and local partners Colliers Dickson Flake Partners, will also include the Kahn and Boyle buildings on Sixth Street between Louisiana and Main streets.  The groups plan to renovate all five buildings, installing two levels of parking, improving facades and providing modern amenities.  Upscale condominiums in the buildings will sell for between $160,000-$325,000, developers said.

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