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SARASOTA, FL-The locally based developer-operator of wireless communications towers accrues $19.5 million in nonrecurring charges on a decision to halt acquisition or construction on certain tower assets and the costs from an SEC investigation. Sarasota is 170 miles northwest of Miami.
ATLANTA-The deal, involving outstanding Series A convertible preferred shares, is expected to generate $5 million in additional cash flow per year, according to the company's prepared statement.
ORLANDO-The former Trammell Crow Co. and Pizzuti Realty Inc. professional has sold $600 million worth of product for institutional investors in his career to date.
TAMPA, FL-The five submarkets with the most potential for rising values in two to three years are Pasco-Hernando, Temple Terrace, Polk County, Town 'n Country, Manatee County and St. Petersburg, a new study by San Francisco-based Marcus & Millichap shows.
VERNON HILLS, IL-Trammell Crow Co., in the person of senior property manager Diane Portincaso, is now in charge of managing the 350-acre Continental Executive Parke in this northern suburb of Chicago.
WASHINGTON, DC-MeriStar has signed a multi-year contract to manage a Maryland golf course, its first in the mid-Atlantic region. The course is part of the Swan Point community being developed by USX Realty.
CHICAGO-Boeing Co. officials continue touring Downtown office possibilities as well as suburban space Thursday. Three West Loop sites as well as the north, northwest and west suburbs are considered.
PETALUMA, CA-A first-quarter report from Orion Partners Ltd. finds the Marin County market has softened but is still at the historic average vacancy rate of about 10%. In nearby Sonoma County, office vacancy rates increased to an overall rate of 7.1% in the first quarter.
PURCHASE-Fano Securities, an investment banking firm, is nearly doubling the size of its operation in the region and will move across the border from Greenwich, CT into New York State.
COLUMBIA, SC-The Philadelphia-based REIT has a deal with the Arkansas-based retailer to rent the 122,371 sf store to a mortgage brokerage and also to buy out Wal-Mart's lease at a later date. Columbia is 100 miles south of Downtown Charlotte.