MIAMI-Developer Richard Lamondin's Cornerstone Premier Communities plans to break ground before year end on the $65 million, 42-story, 332-unit oceanfront property at 163rd Street and Collins Avenue in suburban Sunny Isles Beach, FL, eight miles north of Downtown Miami. Unit prices start in the $300s.

SUNNY ISLES BEACH, FL-The Related Group of Florida Inc., headed by Jorge Perez, has broken ground on Ocean III, a $61 million, 215-unit, 37-story venture with individual units priced from $700,000 to $3 million. The project is expected to rival Miami Beach and Fort Lauderdale projects for the first time. Sunny Isles Beach is eight miles north of Downtown Miami.

VISTA, CA-An individual investor has bought a 24,259 sf industrial building on nearly two acres from a family trust. The North County industrial market has been strong of late, with Vista, Carlsbad and Oceanside posting the strongest absorption figures.

HOUSTON-The North American division of Paris-based Schneider Electric signs for 8,512 sf in a 65,760-sf structure at Clay Crossing Business Center. The lease puts the two-building center at full occupancy.