ATLANTA-The good news for property owners is that the 6.4 million sf of available sublease space is expected to decline over the next 12 to 24 months and prices for investment-grade properties are projected to continue rising.

ST. PETERSBURG, FL-Locally based Senior Health Management LLC has contracted to pay Louisville, KY-based Kindred Healthcare Inc. $65 million or an average $3.8 million per property in an all-cash deal slated to close June 30.

ATLANTA-Smith, Gambrell & Russell LLP has decided to remain in Midtown at its Promenade II quarters for another 18 years, according to Equity Office Properties Trust of Chicago.

ORLANDO-In the largest industrial leasing and management deal of the year, Dallas-based L&B Realty Advisors Inc. has selected the Orlando office of Trammell Crow Co. to lease and manage its class A Beeline Distribution Center Buildings I and II and Crossroads Business Park Building V and VI.

ATLANTA-Former Post Properties Inc. chairman John A. Williams, who owns about 8% of the 32-year-old REIT's stock, anticipates new acquisition interest in the New York Stock Exchange-traded company by year end, according to a published report.

ORLANDO-Wayne Rich, president and sole shareholder in Victoria Equities Inc., wins the $175,000-a-year post after unsuccessfully running against Mayor Buddy Dyer earlier this year.

ORLANDO-Beat Kahli says growing traffic concerns and a lack of new roads in east Orange County convinced him the time was not right to proceed with re-development of the former 2,408-acre, industrial-zoned International Corporate Park into a mixed-use venture.

JACKSONVILLE, FL-The Oak Brook, IL-based REIT paid six separate owners $74.15 million or an average $147.65 per sf for a total 502,198 sf of community and neighborhood shopping centers in one of the company's largest bulk purchases this year.