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ORLANDO-At a direct vacancy level of 17.3%, the 30.5-million-sf office market remains "anemic" but net absorption in the second quarter has rebounded, according to a new analysis by the local office of Cushman & Wakefield of Florida Inc.
ORLANDO-The New York City-based real estate investment firm acquires a total 642 apartment units in six 20-year-old properties for $26,500 per unit, marking the second bulk multifamily acquisition Praedium Group LLC has closed with its local partner, Affirmative Equities, in two years.
LOS ANGELES-The Los Angeles City Council makes it official by ratifying its agreement with the Community Redevelopment Agency and developers of the mixed-use project. Work has begun on the first phase, 180 units of affordable seniors housing.
LAKELAND, FL-The Southfield, MI-based REIT is redeveloping and expanding its 174,000-sf Shoppes of Lakeland shopping center here to 300,000 sf. The new Target department store will occupy 126,000 sf. The property is 60 miles south of Downtown Orlando.
TAMPA, FL-Expanding its Tampa, FL presence, the Irvine, CA-based firm names Bill Bach senior investment advisor. Bach has 22 years of experience in the Florida commercial real estate market.
ST. PETERSBURG, FL-The Richmond, VA-based REIT paid $30.7 million or an average $66,164 per unit for the 464-unit, 89%-leased Inlet Bay at Gateway Apartments, about 80 miles west of Downtown Orlando.
DALLAS-Ron Carey has returned to Texas after an eight-year stint in Florida, signing on as the senior investment officer for the Gulf/Mountain Region. He will steer First Industrial's "buy side" for five cities, where the goal is to spend $160 million.
ELMSFORD, NY-An Anaheim, CA-based wholesale lending company has signed a lease for almost 26,000 sf of space at 555 Taxter Road in Elmsford for a new regional office. The firm eventually hopes to have as many as 200 employees work at the operation.