ATLANTA-The two locally based, major hospitality industry players create a company with an owned portfolio of hotels valued at $240 million. Richard M. Stormont and James M. Stormont Jr. will be managing directors of Noble's new division, Stormont Noble Development.

ATLANTA-Parkway Properties Inc. paid $42 million, or about $115 per sf, for the four-building, 366,119-sf Peachtree Dunwoody Pavilion office campus in the Central Perimeter submarket here.

ATLANTA-Chartwell Development Partners, headed by Nixon Jefferson and Ralph Williams, is completing a 209-unit, 22-story multifamily venture on East Paces Ferry Road across from Sobu Flats in Buckhead Village.

ORLANDO-The 75-year-old national commercial construction materials company hasn't found a tenant for the 56,000 sf of class A office it vacated in June to move into its own 225,000-sf, five-story Downtown Hughes Square on West Church Street.

TAMPA, FL-Despite rising vacancies and lowered rents, buyers are chasing fewer properties this year in the Tampa Bay multifamily market, with some of the same properties being sold two and three times in a short period for a quick profit, according to a new industry analysis by Marcus & Millichap.

WINTER HAVEN, FL-Gov. Jeb Bush and his cabinet place the shuttered, 67-year-old, 230-acre outdoor water-themed attraction on the Florida Forever projects list--but The Trust for Public Land of Washington, DC beats two private developers to the draw by secretly contracting to buy 107 acres of the 176-acre park for an estimated $8 million from the owner, First Gardens LC.

ATLANTA-The Raleigh, NC-based developer was selected by the federal National Archives and Records Administration to build a warehouse that will have 1.75 million cubic feet for text storage and 35,000 sf for training and conference rooms at SouthPark in Clayton County, about 20 miles south of Downtown.

ATLANTA-The locally based urban redeveloper leases the 96-year-old, 9,000-sf property on North Avenue to Derek Lawford Pubs which plans to open The Spotted Dog in the three-story structure. The 10-year lease has an estimated aggregate value of $1.8 million.