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MAITLAND, FL-Nine-month-old Mercantile Commercial Capital has closed six commercial property loans totaling $5 million in Orlando, Tampa, Jacksonville, South Florida and Puerto Rico. Another $11 million in loans is pending.
TAMPA, FL-Pasco County commissioners have voted to rezone two agriculture parcels totaling 72.5 acres to allow West Palm Beach-based Goodman Co. to develop up to 227,500 sf on one site and 172,500 sf on another nearby location, both located in the 5,000-acre Wiregrass Ranch in Wesley Chapel, 20 miles north of Downtown Tampa.
SARASOTA, FL-Village Development Inc. paid approximately $90,781 per unit to Florida-Southeast KMLD for the property here, which consists of 320 units in 20 buildings and lake views from 13 buildings.
MCDONOUGH, GA-In one of the largest industrial leases of the third quarter, Tampa, FL-based IFCO-US LLC is taking the space at the three-year-old, 1.4-million-sf Interstate South Industrial Park here, about 30 miles south of Downtown Atlanta.
SAN DIEGO-The banking group's chief economist says the MBA believes the recovery is under way and the US is headed for economic growth. Rising rates for home mortgages will have implications for apartment investors.
TAMPA, FL-The Jackson, MS-based REIT paid $4.9 million, or about $67.36 per sf, for the two-year-old, 72,000-sf, 100%-leased Crown Park Commerce Center in the Tampa International Airport submarket.
TAMPA, FL-On the market for only 83 days, the 76-unit, 21-building Cedar Pointe Apartments at 5409 Temple Palms Ave. was snapped up by Cedar Pointe Apartments LLC of Mascoutah, IL for $2.8 million, or $36,184 per unit.
DAYTON, OH- Glimcher Realty Trust of Columbus, OH closes a new permanent mortgage for the Mall at Fairfield Commons here. The loan replaces variable rate debt that was scheduled to mature in the next 15 months.
ATLANTA-Far from being categorized as a robust market, the city's 80,000-room hotel inventory, nevertheless, is showing signs of improvement but won't be on solid ground until 2004 and 2005, a new Marcus & Millichap study shows.
PHILADELPHIA-Maritrans, the sea-going transportation company, sells 21 acres of vacant land on Essington Avenue for more than $2 million. The parcel is near the Auto Mall and Philadelphia International Airport.