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WESTLAND, MI-The new owner, RHP Properties, plans extensive renovations to the 30-year old, 458-unit property, which has a clubhouse with a fitness facility, a hydrotherapy spa and an indoor/outdoor pool.
ST. PAUL-The Episcopal Homes is off and running on a 50-unit development in St. Paul's Midway neighborhood. The developer also is adding 20 units to its nearby Iris Park Commons in an apparent portfolio beef up of subsidized living accommodations.
PALM BEACH GARDENS, FL-The locally based provider of correctional and related institutional services attributed the successful start-up of new North Carolina facility for a 10% increase in quarterly net income.Palm Beach Gardens is 90 miles north of Downtown Miami.
HARRISON, NJ-This industrial community, across the river from Newark, will get almost 3.4 million sf of office space, 600,000 sf of retail and nearly 3,000 residences in the next decade.
SACRAMENTO-A Boston-based investment company has sold a seven-building office complex here for $8 million. The buyer of the 90,000-sf America Rivers Commons was a mortgage broker from Los Altos and his partners.
HOUSTON-Houston's PM Realty Group, property manager for an El Paso industrial park, has signed a deal with Emo Trans Texas. The pact puts the shipping operation into 39,104 sf at the Butterfield Trail Industrial Park, situated along Spur Drive.
ORLANDO-The six-year-old, locally based real estate company plans to offer one-stop shopping by forming a title insurance company and partnering with the Atlanta-based online lender.
MIAMI-An appeal pending in the US Supreme Court could affect the outcome of a dispute over an inverse condemnation action in Monroe County, FL, and further define precedents on how trial courts adjudicate temporary public taking of private land.
WEST PALM BEACH, FL-Prakas Group is awarded exclusive agreement to represent the fast-growing restaurant chain in the sale of the New York-style bar and grill on Clematis Street in this Palm Beach County city, 67 miles north of Miami. The asking price wasn't disclosed.
NEW YORK CITY-Since the beginning of the year, Manhattan has suffered nearly 6 million sf of negative absorption and seen overall asking rents fall 6%. The highest vacancy rate, 8.7%, was recorded in Midtown South.