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ORLANDO-Population and employment growth will keep retail humming in 2002 in Orlando and Tampa, even though tourism is expected to be flat. A power center shakeout is on the way.
ORLANDO-Population and employment growth will keep retail humming in 2002 in Orlando and Tampa, even though tourism is expected to be flat. A power center shakeout is on the way.
NEW YORK CITY-The Manhattan-based REIT, which expects to spend $985 million in real estate during the next two years, has secured $31.1 million in mortgage financing on five properties in Tampa, FL and Mechanicsburg, PA.
ATLANTA-The Tampa, FL merchant builder constructed the 20-story, 414,000-sf structure in 2000 for an estimated $62 million ($150 per sf) and sold the property for $72 million. The sale closed Dec. 31 and ranks among the highest per-sf prices of the year.
PALMETTO, FL-Manatee County will become home to the United Kingdom's Peek Traffic BV, as Tampa's R.R. Simmons Construction Corp. takes on the design and construction of the traffic and safety products supplier's US headquarters.
NEW YORK CITY-The consultant's first hotel advisory report since Sept. 11 forecasts an overall industry downswing until third quarter 2002, predicting the lowest occupancy rate in 30 years and the first annual average decline since 1940.
PHOENIX-The international law firm of Squire Sanders& Dempsey will be occupying 84,377 sf at Two Renaissance Square in Phoenix's CBD. The long-term signing takes the 456,373-sf high-rise to 98.5% occupancy.
LAKELAND, FL-Increasing its presence in the Florida market, Houston's Weingarten Realty buys three buildings with a total of more than 600,000 sf of industrial space and two in Atlanta. Polk County pegs each building's value at more than $4 million.
CARROLLWOOD, FL-Carrollwood Center becomes the property of Atlanta-based IRT Property Co. in a $6.7 million deal. The 96,242-sf shopping center will undergo a $2.4-million renovation, including a new Publix supermarket.
ORLANDO-BJ's Wholesale Club Inc. of Natick, MA plans to open three outlets by the first quarter in south Orlando, east Orange County and Sanford, FL as big-box developers watch stand-alone retailers, such as Walgreens, Eckerds and 7-11 convenience stores, pull customers away from regional malls and neighborhood shopping centers.