Industry News
Versace to Design Interior of Panama City High Rise
May 23, 2008
By: Thomas Peretti, Contributing Correspondent

Fashion house Versace has been tapped to design the interior of the Vita Tower in Panama.

Versace Design will team with architect Alfonso Pinzon Mendez to design the interiors of the private residential high-rise in Panama City. Versace brands will be featured in the building’s common areas, which include a spa.

To date, Versace Design has worked on a limited number of luxury developments, most notably the Plaza Hotel in New York.

The Vita Tower is being developed by firms Grupo Attie, Consorio General and Grupo H. The development team is responsible for numerous high rises in Panama City, including Yoo by Philippe Starck, Arts Tower, and The Pearl.

The Vita Tower is scheduled to open in 2010. The Versace Group sees this opportunity as a way to further associate its burgeoning interior design unit with high class luxury developments. “We now have the privilege to supply an interior design project for this luxurious real estate that will result in a beautiful one-of-a-kind building over Panama City,” Versace CEO Giancarlo di Rislo stated in a release, where he also noted the prior accomplishments of the development team and architect.

While Panama’s commercial real estate market is booming due to the expansion of the Panama Canal, its residential market has abated due to a glut of supply and tightened visa regulations. However, higher end luxury residential developments in Panama City have suffered less than typical residential properties in Panama, due largely to the number of multinational corporations that operate out of the city.

 
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Auto Parts Concern Claims 70,000SF at 775,000-SF Industrial Park in Suburban Philly
Sept. 05, 2008
The Tri-County Commerce Park in Pottstown, about 40 miles northwest of Philadelphia, will welcome a new tenant now that CJ's Tire and Automotive Services has inked a multi-year lease for 70,000 square feet at the property.
Design Plans Unveiled for $450M Arts Center in Orlando
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Plans for the development of the Dr. P. Phillips Orlando Performing Arts Center move forward with the unveiling of the design for the 330,000-square-foot project.
Chemical Company Stays Put at Suburban Phoenix Home with 53,000-SF Lease Renewal
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BioLab Inc. has decided to extend its commitment to its digs at 5555 North 51st Avenue in Glendale, Ariz., with the signing of a new seven-year lease.
Two Orange County Industrial Buildings Financed
Sept. 05, 2008
First mortgage financing has closed for Etchandy Commerce Center and Etchandy Industrial Complex II, two industrial parks encompassing an aggregate 207,000 square feet in Orange County
Financing Closes for New Jersey Retail/Office Center
Sept. 05, 2008
The 185,000-square-foot office and retail property at 2143 State Route 35 in Holmdel, N.J., has been financed to the tune of $17.4 million.
 

 

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