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ORLANDO-One of the biggest issues developers face in Florida is the high price of insurance, which leads to the inability of landlords to find affordable rates. "Folks want low prices on their policies; those days are probably gone," said Lee Arnold, chairman and chief executive officer of Tampa-based Colliers Arnold brokerage services, speaking here at the International Council of Shopping Centers' Florida Conference.
LAKE WORTH, FL-Lake Worth Gardens, a 170-unit independent living facility, sells for $19.35 million. It is the third time in four years the property has traded hands.
ST. PETERSBURG, FL-Lutz Real Estate Investments increases its investments in the Tampa-St. Petersburg market to $65 million with the acquisition of the office component of 100 Central Station.
SARASOTA, FL-Buoyed by a lack of space on the market, the Sarasota/Manatee County area office market sees a drop in vacancy from 10.1% in the first quarter to 8.8% in the second quarter.