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TAMPA, FL-Scully Co. of Jenkintown, PA pays the Atlanta multifamily developer paid $73,214 per unit for the Enclave at Richmond Place, a 280-unit luxury community Lane developed in 2000.
DENVER-New starts in the nation's top 30 markets total 70 million sf last year, up 17% from the year before, according a ProLogis report. However, that is nearly 40% below the cyclical peak reached in 2000.
TAMPA, FL-The 30-million-sf inventory ends Q1 with a 17.1% vacancy, up from 16.7% at year-end 2003. The return of MCI Worldcom's 824,000-sf headquarters to the market brings class A vacancies in Northeast Tampa to 50.2%, according to a new Colliers Arnold analysis.
IRVING, TX-FelCor's portfolio churning brings out three Holiday Inns and two Crowne Plazas, all vintage product with locations as the top draw. The Holiday Inns will likely go for $20,000 to $25,000 per key and the Crowne Plazas, $50,000 to $60,000 per door.
TAMPA, FL-Dwight R. Blader, a former VP with Signature Bank of Florida in Pinellas County, is the new regional loan officer responsible for originating and closing commercial real estate loans in the Tampa and Orlando markets.
MAITLAND, FL-The Dallas-based office suites company is moving into new 29,745-sf quarters on the third floor at Pembrook Commons Center in the Maitland Center submarket. The 10-year lease has an estimated aggregate gross value of $6 million, area brokers tell GlobeSt.com.
PORTLAND-Harsch Investment Properties finds two new tenants for 160,000 sf at Stockyard Commerce Center that is being vacated by Biagi Bros. and Dean Foods, and expects to announce another 60,000-sf tenant next week that will bring the 452,306-sf development to 99% leased.
ORLANDO-Chris Larkin, a nine-year professional in real estate finance, will co-manage the Income Property Capital Group in the local office with Todd Cohen.
CHICAGO-The largest US retail REIT and teacher's pension fund part with the 265,359-sf Back of the Yards shopping center they co-developed 14 years ago at 47th Street and Damen Avenue.