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AUBURN HILLS, MI-Wells REIT buys the 210,000-sf building at 1075 West Entrance Rd., fully leased by Electronic Data Systems Corp. Atlanta-based Wells REIT owns the adjacent GMAC Detroit building, which it bought last year.
TAMPA, FL-Overall second-quarter vacancy sits at 19.3%; class A is at 20.3%. Overall net absorption was only 1,950 sf. Despite the weak performance numbers, investment sales activity remains strong, reports Colliers Arnold Real Estate Services Co.
TAMPA, FL-The Atlanta-based marketer sells 333 residences at the 336-unit ParkCrest Harbour Island development here for prices ranging from the upper $100s to $800,000. Locally based CKT Development is the developer.
PALM HARBOR, FL-Seabreeze Associates, owners of the 18-year-old, 145,000-sf Seabreeze Shopping Center here, receive permanent fixed-rate financing at an under 7% interest rate.
BLOOMFIELD HILLS, MI-Taubman Centers expands its stake in a Tampa, FL, center and now controls 50.1% of International Plaza. Taubman bought a 23.6% stake from Ivanhoe Cambridge.
ORLANDO-Despite a cutback in materials, contractors working on multifamily and single-family projects are pulling more building permits this year than in the first quarter of 2003, according to a University of Central Florida analysis of private construction trends.
ABERDEEN, NJ-Somerset Development is set to redevelop the now-former Anchor Glass facility in Monmouth County in the wake of a transaction engineered by Binswanger/Klatskin.
ORLANDO-The largest lawsuit filed in Orange Circuit Court by Tampa, FL-based Electric Machinery Enterprises alleges Orange County and its general contractor, Hunt/Clark/Construct Two, owe $11 million in unpaid invoices.
ORLANDO-Developer Cameron Kuhn is getting cash, tax rebates and loans valued at $22.5 million for his planned $140-million, one-million-sf mixed-use Plaza venture on the three-acre Jaymont Block at Church Street and Orange Avenue. Euro-American Advisors Inc. is receiving incentives valued at $12.5 million for its $150-million 55 West-on-the Esplanade condominium development.