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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.
NEW PORT RICHEY, FL-The Southfield, MI-based REIT paid River Crossing Partnership $115.32 per sf for the 62,000-sf, 100%-leased Publix at River Crossing property here, 20 miles north of Tampa.
GREAT NECK, NY-In four separate transactions, BRT Realty Trust closes $26.6 million in loans for multifamily properties located in Manhattan, Delaware, Tampa and North Carolina.
ST. AUGUSTINE, FL-Charles B. Lebovitz, chairman and CEO of the Chattanooga, TN-based firm, says the 261,110-sf, 92%-leased Cobblestone Village, 150 miles north of Downtown Orlando, is expected to generate an initial unleveraged return of 10%.
ORLANDO-Longtime business associates Daryl M. Carter and Scott E. Crossman pay auto dealers Denis Moredo, Harris M. Ganey and Jan C. Ganey about $25 per sf for 0.59 acres at the southeast corner of Orange Avenue and Grant Street.
TAMPA, FL-The London-based container shipping company decides to remain in Downtown Tampa at TIAA-CREF's 36-story tower for another three years at an estimated aggregate rent of $9.7 million. The lease is the largest class A office deal this year in west Central Florida.
TAMPA, FL-Continued weak demand raises class A office vacancies to 16.93% in Q1, up 2.5% from 14.36% in Q4 of 2002. Colliers Arnold Commercial Real Estate Co. analyst Jeremy Kral predicts vacancies could top 17% by yearend.
HAINES CITY, FL-Scouting for a location along the high-tech corridor between Tampa and Orlando, Technology Research Consultants Inc. found a ready-made plant at 2801 US 17-92 where it will make gyroscopes for the US Army.
HOUSTON-The portfolio overall is 91.4% occupied, but FFO is down and so is the net income in a quarter-to-quarter comparison for the first accounting period of the year. Of course, the REIT also completed four more communities in the quarter.