ATLANTA-Based on the closing market price on April 14, the purchase price for the common shares would be about $136 million. The newly acquired stock would offset dilution from stock and stock-option grants made under the company's officer-and-director stock plans.
ORLANDO-Net absorption of 124,907 sf in the seven-million-sf, 69-building south Orange County market trailed the 221,593-sf absorption figure posted in fourth quarter 2003, according to a new survey by Rebman Properties.
ATLANTA-Servidyne Systems LLC, a wholly owned energy-management subsidiary of locally based Abrams Industries Inc., acquires iTendant Inc. of Atlanta, a provider of service-request-and-maintenance software to commercial building owners and operators.
ORLANDO-Debra Coffie will coordinate Fidelity National Title Insurance Co. of New York's newly created commercial network department, which handles real estate underwritings for major law firms in Florida.
JACKSONVILLE, FL-Locally based Regency Centers sells a 1.5-acre tract at its 75,040-sf Johns Creek Shopping Center here for $1.4 million. It's one of the highest per-square-foot prices paid for a comparable commercial location in years, say insders.
ORLANDO-Four buildings totaling 653,828 sf sold for $74 million or an average $109 per sf, according to a new analysis by the Orlando office of Advantis Commercial Real Estate Services/GVA. Institutional investors topped the buying column.
ALPHARETTA, GA-McLean Office Center Ltd. acquires Parkside Terrace East and Parkside Terrace West in North Fulton County--totaling 252,960 sf--for $158.50 per sf from K&K Holdings LLC.
ATLANTA-Cousins Properties Inc. and Weeks Properties form Cousins/Weeks to develop and own local and national industrial assets. Forrest Robinson, a former Weeks Corp. executive, is president of the new venture. He comes to Cousins/Weeks from Miami-based Codina Group where he was president of development since 2001.
ORLANDO-Developer Rob Yeager plans to carve out a mini-city with two mixed-use projects near Orlando International Airport. The Orlando City Council is considering annexing 1,573 acres at one of the ventures to move the enterprise along.
ATLANTA-First Industrial Realty plans to develop the estimated $12-million project south of Interstate 20. The American Red Cross also plans an estimated $23-million, 185,000-sf new Southeastern regional headquarters a mile south of the warehouse and distribution center.