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MIAMI-The locally based REIT paid an undisclosed seller $2.6 million or $44,214 per sf for the 100%-leased, 58,804-sf Salerno Village Shopping Center in Martin County, five miles south of Stuart, FL and 35 miles north of West Palm Beach.
ATLANTA-The locally based wireless network provider is taking the space for an estimated five years at an aggregate rent of about $2.13 million, area brokers tell GlobeSt.com. Property owner Denholtz Associates didn't disclose lease terms.
ORLANDO-The locally based resort developer projects final buildout sales on the twin Muirfield venture at the north Florida Seascape Resort in Destin, FL will be $130 million. The company has pre-sold half of the 220-unit Muirfield I complex.
ORLANDO-The fourth largest furniture chain in the United States paid an average $2.75 million each for the sites at 4545 E. Colonial Drive and 2000 Principal Row in Orlando and 645 W. State Road 436 in Altamonte Springs.
ATLANTA-The Oak Brook, IL-based REIT paid ZP No. 108 LLC of Wilmington, NC $7.62 million or $96.14 per sf for the 79,253-sf, 100%-leased, one-year-old Target Center Shopping Center in Columbia, SC.
ORLANDO-The 2,048-room Riverside Hotel, also a part of the park's Port Orleans resort, reopened in March after closing in fall of last year. The 26-year-old River Country, however, closed in April and is expected to stay closed. River Country was Disney's first water park.
MIAMI-A first-quarter Cushman & Wakefield study reports rising vacancies of 16.2% in Miami-Dade County; 20.8% in Broward; and 14.1% in Palm Beach. Brickell Avenue, Miami's financial district, could be in for a shock as 236,000 sf becomes vacant over the next 15 months.
ATLANTA-Colonial Properties Trust of Birmingham, AL has sold a five-property multifamily asset package in Alabama and Florida to Philadelphia-based CMS Cos. for $44,872 per unit.
ORLANDO-Orange Circuit Judge William C. Gridley wants Zion's Hope Inc. owner Marvin J. Rosenthal to file a new complaint, separating state and federal constitutional points that argue the $16 million, 15-month-old attraction near Walt Disney World is exempt from paying county property taxes because it is a not-for-profit ministry.