August 2011

  • Aug

Ram Supports Paragon Foundation with Business Grant

August 27, 2011

Palm Beach Gardens, Fla., Aug. 27, 2011 – Ram announced today it has made an $8,600 corporate grant to The Paragon Foundation of Palm Beach County, which will provide direct resources to assist four minority and Black-owned businesses in the local community.

“We believe in the importance of planting the seeds for economic growth, especially during times of economic challenge”, said Casey Cummings, Ram’s Chief Executive Officer. “By providing business assistance grants to local entrepreneurs, we are giving them a leg up, not a hand out, to support sustainable job growth and job creation in the community we serve.” Ram has supported the Paragon Foundation since 2010 and encourages other established businesses to join them.

Local beneficiaries of Ram’s donation include: Built Solid Construction of Loxahatchee; Rollin’ Wear of Riviera Beach, Northstar Ice of Lake Clark Shores and Jireh Auto Repair Inc. of West Palm Beach.

  • Aug

Publix, McDonald’s to open at Lakeside Village

August 24, 2011

via Orlando Business Journal

Lakeside Village, a new Publix -anchored shopping center in west Orange County, is on pace to add at least two tenants by the end of this year and has three other users in the works.

The 129,000-square-foot center being developed by Orlando-based Boyd Development Corp. and Palm Beach Gardens-based Ram Realty Services , has three buildings in the works. The 45,000-square-foot Publix is set to open by December, while a McDonald’s fast-food restaurant is set to open by Nov. 1, said Boyd Development owner and President Scott Boyd.

Three other tenants also have either started work or expect to start work this fall: Chase and Fifth Third Bank are planning branch locations, while 7-Eleven will have a gas station and convenience store.

JP Morgan Chase Bank NA bought a 1.2-acre outparcel in the center on Aug. 15 for $1.7 million and Fifth Third bought an adjacent nearly 1-acre parcel in March for $1.8 million, Orange County records showed.

Chase could open its branch by the end of this year as well, while Fifth Third and 7-Eleven will likely open by first-quarter 2012, Boyd said.

  • Aug

Sales Heat Up at 140 West Franklin

August 16, 2011

via Chapel Hill Magzine

Could the real estate market be picking up? All signs point to yes as far as 140 West Franklin, the downtown mixed-use development, is concerned.

Seventy-three homes have been sold within the $55 million project, which is now in the early construction stages. Five contracts have been signed in the past month. Several new homeowners have combined two neighboring units to create a larger floor plan. Prices range from the $200,000s to the $600,000s.

As the excavation at 140 West Franklin concludes, the two cranes, one 160 feet and the other 200 feet tall have been installed on site.The next steps are the building of the foundation and the subterranean parking levels. In the fall, the building will begin to rise above the construction fencing. Early next year, the structures will be topped off as the interior customization process ends. John Moriarty & Associates, Inc., the general contractor, expects the project to conclude fourth quarter 2012.

When completed, the buildings will stand four stories tall along the street before stepping back to eight stories tall at the center. There are 140 signature homes above the retail level with open floor plans.

  • Aug

Ram Announces 20,000 SF Whole Foods Market® Lease for Midtown Detroit

August 1, 2011

Ram is ready to launch the final phase of its Midtown Detroit development with the recent announcement that it has signed a lease with Whole Foods Market, the world’s leading natural and organic foods supermarket, for its property on the northwest corner of Mack Avenue and John R Street in Detroit, MI. The initial phases of the development included the construction in partnership with Wayne State University of a 954-car parking structure on the north edge of the site and the later creation of the Ellington, a five-story building with lofts over retail facing Woodward Avenue.

When the 20,000 square foot Whole Foods Market opens in 2013, the store will offer residents a variety of competitively priced fresh fruits and vegetables, specialty items, high quality meats and seafood and everyday pantry staples. The store will reflect the company’s mission of supporting organic agriculture, local communities and the environment. Midtown Detroit is one of the few neighborhoods in Detroit where job growth is occurring, driven by large employers such as the Detroit Medical Center and Wayne State University. Whole Foods Market officials estimate it will add between 60-75 new jobs in the area.

As the landlord, Ram has undertaken to secure the permits and the financing necessary to develop the site and assist in the construction of the store so that it opens either late in 2012 or early 2013. “The redevelopment of Detroit has always relied on its ability to draw new residents to the City,” remarked Ram Chairman Peter Cummings. “Jobs are critical. An attractive array of well-priced housing is critical. But no single asset is more important to a neighborhood than a well-stocked and well-managed food store like a Whole Foods Market.”