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SPRING VALLEY, NY-Developers and commercial real estate brokers in Rockland County say that the county is no longer ignored by corporate relocation prospects and that its lower asking rents and land prices are proving quite attractive to both New Jersey and New York Metro area firms.
ORLANDO-Broker Bert Locke steps down after heading the Florida chapter of the Building Owners and Managers Association for two years, but not before recalling how he and his colleagues defeated telecommunications lobbyists on a thorny industry issue.<p>
MIRAMAR, FL-Preparing for more store openings in Florida, Texas-based Neiman Marcus has taken a 10-year lease on 54,000 sf of warehouse/distribution space at the 400-acre Miramar Park of Commerce. The estimated aggregate value of the lease is $3.43 million.
ORLANDO-Gray, Harris & Robinson, a 30-year-old, 110-attorney Downtown firm, has acquired 13-lawyer Hovis, Boyette & Crawford in Clermont, FL, about 25 miles west of Orlando. Terms of the merger were not disclosed. Both practices focus on commercial real estate law.
ORLANDO-If voters approve the $5-billion, four-city, high-speed rail network, Florida would be compelled to build the largest public-works project in its 181-year-old history. An estimated 50 acres or two million sf of right-of-way land alone would be needed for the system.
ATLANTA-The newly-formed joint venture of BellSouth and Texas-based SBC Communications plans to lease about 300,000 sf in the 20-story, 414,200-sf tower, about 15 miles from Downtown, industry sources speculate. But no lease has been signed and none of the parties is talking.
DALLAS-Newport Mortgage Co., based here, is now the property of KeyCorp, a Cleveland-based commercial lender seeking to develop a nationwide mortgage finance company under the banner of Key Commercial Mortgage. A management shuffle is under way.
EAST NAPLES, FL-Last week it was General Cinema closing all 11 Florida locations. Now Regal Cinemas has begun to shut down movie houses, with a six-screen multiplex in this South Florida Gulf Coast location getting the axe.
ORLANDO-Land prices, development costs, rents and unit sizes are all going up, says Mark L. Findura, president of R.J. Twitty & Co. II Inc. But demand remains strong with class A and student markets are the most resilient.
AUSTIN-The state capital's single-family housing market has hit an all-time record, up 15% from second quarter 1999 in a gold-rush economy that has had $901 million in venture capital pumped into it in the first six months of this year. Meanwhile 83 miles southwest, San Antonio is experiencing a slump.