ATLANTA-Institutional Shareholders Services Inc. of Rockville, MD recommends Post Properties Inc. shareholders vote against a bylaw amendment proposal on directors' pay submitted by John A. Williams, Post's former chairman and founder. The shareholders meeting is May 27.
ORLANDO-Osceola County officials allege the Michigan-based homebuilder was constructing four-bedroom, $300,000 rental investment homes at its Windsor Hills subdivision near Walt Disney World when the project is approved for only three-bedroom structures.
ATLANTA-Overall Q1 vacancy is 15.2% in the 485-million-sf sector with most of the total negative net absorption of 1.6 million sf falling in the shallow bay and distribution areas.
TAMPA, FL-Continental Marble Corp. of Miami pays $1.6 million or $27 per sf for the 58,000-sf property. In an unrelated Downtown land sale, Terrapark Properties of Toronto sold a 24,610-sf paved parking lot to Florida Avenue LLP of Tampa for $1.6 million or $65 per sf.
ATLANTA-The former executive at Carter and Associates and owner of locally based Cane Island Services replaces Richard Amon, who has moved to another real estate services company. The 50-story, 1.1-million-sf One Atlantic Center is 81% leased.
LAKELAND, FL-The 14-million-sf market, part of the Tampa Bay reporting area, posted positive net absorption of 437,150 sf and lowered its vacancy level by three points to 12.4% in the first quarter, according to a new Colliers Arnold survey.
ATLANTA-New construction, company consolidations and mushrooming sublease space pushed the area's overall vacancy level to 22.4% in the first quarter, up 0.7% from year-end 2003, according to a new market analysis by locally based Colliers Cauble & Co.
ORLANDO-Despite an overall vacancy level of 15.6%, institutional investors and REITs remain confident in the local market. They purchased five properties in the first quarter, totaling 839,096 sf for an aggregate $99.3 million or $118.37 per sf, up from a 2003 per-sf average price of $104.37.
McDONOUGH, GA-The first phase of the open-air, 1.5-million-sf South Point, 35 miles south of Downtown Atlanta, is scheduled to open by May 2006. The total project will comprise one million sf of retail and restaurant space, 500,000 sf of office and 1,000 apartments or townhomes.
ORLANDO-Orange County Comptroller Martha O. Haynie's office took in nearly $12.2 million in March, topping February's $10.2 million and averaging $9.2 million per month since the county's fiscal 2004 year began Oct. 1, 2003. Hoteliers look for a strong summer tourist season.
