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ORLANDO-After being rejected three years ago for a 250,000-sf structure because the retail box was too large for the community, the Bentonville, AR-based retailer plans to break ground by year end in Clermont, FL on an estimated $21 million building.
CHICAGO-Financial Funding Resources and its founder, Les Goldberg, join Cohen Financial in a deal that is expected to widen the latter company's reach in the Southeast U.S. market.
MIAMI-Jeff Ross, previously with CB Richard Ellis Inc., joined Trammell Crow, Mark Bailey relocated from the company's Tampa office, and Regina Perez and Penny Sparks were promoted.
ATLANTA-The locally based REIT posts fourth-quarter net earnings of $10.8 million, up 92.7% from $5.6 million in the comparable 2001 period. Fully diluted funds from operations increased 20.4% to $12.39 million versus $10.29 million a year ago.
ATLANTA-The nine-month-old, locally based retail investment consulting group expects to close on another $50 million of assets this quarter, as some cap rates sink to the 7% range.
TAMPA-The 160-unit, 85%-leased Colony Square Apts. sold for $5.65 million. Longbranch Apts., a 184-unit, 86%-occupied complex, netted $6.6 million. Both Pinellas County properties were part of an IRS 1031 tax-deferred exchange transaction.
CHOCTAW, MS-The 300-key property, scheduled to open in 2006, will be located at the Pearl River Resort here. It will be built and operated by the Mississippi Band of Choctaw Indians. Opening this summer at the same property will be a Hard Rock Beach Club.
NEW YORK CITY-The REIT discloses a blizzard of recent acquisitions totaling about 3.5 million sf. Closed deals include 11 shopping centers and two development projects, while deals on 14 additional buys are expected to be final be the end of Q1.
ORLANDO-The former vice president of real estate services for Crow in Tampa becomes director of construction and business development in the Tampa office of Atlanta-based Advantis Real Estate Services Co.
BOSTON-Piper Rudnick opens a local office with 33 attorneys, 17 of whom are from the former Hill & Barlow firm, which dissolved in early December. The firm, one of the country's leading in real estate, plans to expand the size of its practice here.