Globest Sectors

ORLANDO-In the last 14 months, Jim Michalak, senior director in the brokerage's Tampa office, has closed 13 shopping center deals totaling 1.66 million sf valued at $128.4 million and averaging $9.88 million per deal. Cap rates are down and power centers are back in demand, Michalak says.

BOSTON-The state legislature passes the omnibus housing bill, which includes a financing alternative for municipalities to fund capital improvements. After six years, NAIOP is thrilled that the local developmental tool finally made it through.

LOS ANGELES-Starpoint Properties acquires the apartments in three Mid-Wilshire buildings for an average of $27,178 per unit and plans renovations in a value-added play.

MIAMI-Locally based Alliance Construction LLC is constructing the 10-garden style, 204-unit community at 11900 NE 16th Ave., North Miami, FL. The hard construction cost is $10.3 million or $50,490 per unit.

MCLEAN, VA-Temporary office space provider Teqcorner gets four new tenants. Area demand for turnkey, temporary digs continues to be a growth market despite a dramatic decrease in the number of start-up companies.

AUSTIN-A New York investor steps up to buy a 9,214-sf building along Camp Craft Road. The buyer gets a tenant signed to a five-year lease. ASC Management was seeking $1.7 million for the one-year-old structure.

MARINA DEL REY, CA-For the highest price ever paid for an apartment community in Los Angeles County, SSR Realty Advisors and one of its clients pick up a 583-unit complex in Marina Del Rey. Apartments here average 854 square feet with an average rent of $1,671 per month.

HOUSTON-The Houston law firm of Jones, Day, Reavis & Pogue will move into 54,600 sf on the top two floors of the 689,000-sf CBD high-rise. The signing pushes the project to 56% pre-leased.