ATLANTIC BEACH, FL-Ashford Hospitality Trust Inc. continues its buying spree in the Jacksonville, FL market with the signing of a definitive agreement to purchase the 32-year-old, 193-room, oceanfront resort for $119,689 per room. The deal is expected to close later this month.
TAMPA, FL-The parties won't disclose the purchase price but area brokers familiar with the property tell GlobeSt.com the deal, which included two prime Downtown undeveloped acres, was done for about $90 million, or $170 per sf, a record for a Tampa Bay office asset.
ATLANTA-Even as developers complete three million sf of new product, John M. Leonard, regional manager of M&M's local office, predicts 9.5% vacancies will drop to 9% by year-end; rents will rise; retailers will expand; and investors will continue to fight for top-tier properties.
ATLANTA-Not even six-months old, the 210,000-sf Technology Square Research Building in Midtown, being developed by Kim King Associates, also attracted MEAG Power Co. as a tenant. Georgia Power and Georgia EMC are also considering relocating to Tech Square.
CELEBRATION, FL-Hammock Beach and Yacht Harbor Village, part of a 1,000-acre oceanfront resort community that broke ground in 1999 near St. Augustine, FL, led the rush with $146 million on the sales of 210 condominium units and 173 home sites.
ATLANTA-University Clubs by Melrose, a Hilton Head, SC-based developer, is constructing Georgia Tech Club, a 210-home, golf course-oriented community with prices starting in the $800,000s in Cherokee and northwest Fulton counties.
ORLANDO-The Andrew Shumway Group of Orlando pays Waterford Residential Land Joint Venture $1 million for a 4.3-acre commercially zoned tract near the fast-developing Waterford Lakes Town Center in east Orange County.
ALPHARETTA, GA-Over $5 billion of retail properties were traded in the Southeast in 2003 with REITs and institutional investors dominating the play. But a number of private investment groups are emerging, according to NewBridge Retail Advisors.
ORLANDO-Locally based CNL Retirement Properties Inc. buys 19 seniors' housing properties totaling 3,400 units in seven states from affiliates of New York-based WHSLH Realty LLC for $282,895 per property or $1,581 per unit.
ATLANTA-The locally based soft drink manufacturer retains Oliver McMillan, a San Diego-based retail and residential developer, to develop a Downtown venture next to its planned new World of Coca-Cola Museum and the Georgia Aquarium.