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SANTA CLARITA, CA-The home improvement chain pays $3 million for the development site, but it has yet to say when it will build. Billed as one of the fastest growing areas in SoCal, retail developers are locking in sites and holding.
ORLANDO-Beat Kahli says growing traffic concerns and a lack of new roads in east Orange County convinced him the time was not right to proceed with re-development of the former 2,408-acre, industrial-zoned International Corporate Park into a mixed-use venture.
TAMPA, FL-Triple Net Properties LLC of Santa Ana, CA pays $51.12 per sf for NNN Netp@rk LLC, a two-story, 919,405-sf office and technology center. Cohen Financial arranged the financing through Fleet National Bank.
ORLANDO-Daryl M. Carter, who has closed more than $2 billion in joint acquisition and disposition deals over the past 15 years, spends $7.44 million acquiring a shopping center and 140 acres of undeveloped land. All were cash deals.
TAMPA, FL-Michaels Development Co. breaks ground on two community centers and 358 apartments at the planned 559-unit Belmont Heights Estates in East Tampa. Clark Realty Builders is the general contractor for Michaels and co-developer Tampa Housing Authority.
KANSAS CITY, MO-The Kansas City-based entertainment properties REIT forks over $29.5 million for two movie theaters, a 24-screen property in Tampa, FL and a 12-screen property in Lawrence, KS.
FONTANA, CA-Diversified Partners of Irvine pays $14.8 million for the Palm Court at Empire Center while Oakland-based Kaiser Foundation Health Plan spends $1.7 million for a freestanding building in the center in a splitting of 266,000 sf.
ORLANDO-In the biggest Downtown, class A leasing transaction this year, the Atlanta-based company continues to occupy the 15,000-sf lobby and the seventh, eighth and ninth floors of the 28-story, 421,204-sf Bank of America Building at 390 N. Orange Ave.
TAMPA, FL-The largest and richest consumer market in Florida boasts a low 6.8% vacancy mark in the last two quarters with net absorption of 278,326 sf. Investors are clamoring for non-grocery-anchored strip centers in a strong location.
TAMPA-Brad Luger, executive director of Advantis Real Estate Services Co./GVA's investment services group in Florida, posted 2002 transaction volume of $50 million in a challenging industry year, the firm states.