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TAMPA, FL-In a feverish race to buy apartments suitable for conversion to condominiums, developers here are almost doubling the fair market value of the properties, especially in Pinellas County, according to Marcus & Millichap Real Estate Investment Brokerage Co.
CARROLLTON, TX-The Clearwater, FL-based moving specialist adds another location in Dallas/Fort Worth, signing a five-year lease for Luna II. The move-in is just wrapping up, turning on lights in an empty Valwood Industrial Park building.
JACKSONVILLE, FL-Rene H. Schiegg, an internationally known hospitality industry professional for 38 years, is the new general manager at the renovated 167-room Radison Hotel Jacksonville-Butler Boulevard here.
TAMPA, FL-Locally based RK Real Properties Inc., doing business as Carrollwood Window and Door Inc., pays ML Real Estate Inc. of Tampa $905,000 for a 32,000-sf structure formerly housing auto parts. Industrial buildings in the 5,000-sf to 40,000-sf size are at a premium here.
ATLANTA-The locally based apartment developer priced the senior unsecured notes, due 2011, at $998.31 for $1,000 notes at a 5 1/8% interest rate. The offering closed Oct. 12. On its 8 1/8% note repurchase offering, which closed Oct. 5, Post bought back $88 million in notes for $1,039.81 per $1,000.
ST. PETERSBURG, FL-Although only one new office tower has been built in this west Florida Gulf Coast city in the last 15 years, North Carolina-based Progress Energy is considering developing a 200,000-sf office-retail mixed-use venture Downtown.
TAMPA, FL-The Miami-based brokers rang up their seventh over-$20-million retail deal in the past 12 months with the $20.3-million sale of the Shoppes of Carrollwood and Colonial Square, both in the affluent Carrollwood section of metro Tampa.
ORLANDO-Retail facilities development will continue to outpace all other commercial categories over the next two or three years with stronger growth in the Sun Belt states and fewer large retail chains leading way, John M. Crossman, Trammell Crow Co., tells GlobeSt.com.
ORLANDO-Despite office leasing vacancies at the 17% mark, investors scouting for buildings in the $4-million-plus range still can't find enough product in the metro area market, according to a new analysis by Marcus & Millichap Real Estate Investment Brokerage Co.