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TAMPA, FL-Marcus & Millichap first vice president and regional manager Steven M. Ekovich is convinced office employment growth in 2004 will improve the Tampa-St. Petersburg-Clearwater market and drive down vacancies from highs of 20% and 24% in some submarkets.
FORT WORTH-The Dallas owner sells the lone multifamily asset to a Palm Springs, FL buyer, who's marking a Texas entry with the Greenmeadow Apartments and looking for more. Owner financing for an $850,000 listing allows the deal to close in 30 days.
GLENDALE, AZ-The Glen had been on the market six months when a McLean, VA investor stepped in with an offer of $7.3 million. Now, the new owner is hoping to cure a 25% vacancy and fix up the 200-unit property to turn a profit.
PALM BEACH GARDENS, FL-Seavest Inc. and Enterprise Asset Management Inc. bought the 189,000-sf property at 3801 PGA Blvd. from a limited partnership, of which real estate developer Bruce Rendina is the general partner. The building, with many financial tenants, is being renamed the Financial Center at the Gardens.
ATLANTA-Developer Margaret Sapp of Kennesaw, GA wants the county to rezone 340 acres for 491 townhomes and single-family residences. Another developer, Tho Associates, wants the town of Ball Ground, GA to annex 158 acres for 227 homes.
BOSTON-A report by Richards Barry Joyce & Partners demonstrates increased activity in the biotech market and, while Cambridge remains the region's biotech epicenter, the Boston and suburban markets are gaining in prominence.