ORLANDO-Craig Macnab, former president and CEO of the defunct JDN Realty Corp., replaces James M. Seneff Jr. as CEO of Commercial Net Lease Realty Inc. Seneff, founder of the CNL family of companies, is CEO of CNL Financial Group, the privately held umbrella company.
ATLANTA-Robin Loudermilk pays Developers Diversified Realty Corp. $5.5 million for the 32,000-sf building which JDN bought in 1997 for $3.3 million, or $103 per sf. The per-sf-price was the highest for an office asset this year, area brokers tell GlobeSt.com.
HAPEVILLE, GA-With a permanent population of 9,393 and home to a major manufacturing plant, this suburb is getting a 9,900-sf shopping center that is expected to grow from a potential customer base of 30,000 daily workers at nearby Wachovia Bank, the Delta Air Lines headquarters building and other corporate offices.
MAITLAND, FL-New York-based Affirmative Equities pays Fletcher Bright Properties of Atlanta nearly $16 million, or $43,579 per unit, for the 36-year-old, 366-unit Howell Branch Station comprised of 32 rental buildings in this suburban city.
ORLANDO-Retail facilities development will continue to outpace all other commercial categories over the next two or three years with stronger growth in the Sun Belt states and fewer large retail chains leading way, John M. Crossman, Trammell Crow Co., tells GlobeSt.com.
ATLANTA-Without explanation, prospective buyer DARP, controlled by record producer Dallas Austin, walked away from a five-month-old deal to buy the landmark Medical Arts Building located 500 yards from the planned $200-million Georgia Aquarium Downtown.
ORLANDO-Broker Barbara Vance, who grew her residential-commercial brokerage to 50 associates from two professionals eight years ago, posted $120.2 million on 356 sales for an average $338,000 per transaction in 2003.
CHAMBLEE, GA-PDK Investments has filed preliminary development plans for International Village at Chamblee which could break ground by September on 500,000 sf of retail, commercial and office, along with a hotel and conference center in this Atlanta suburb.
TAVARES, FL-A dwindling supply of highway-fronting, one-acre tracts is going for $8 to $12 per sf, double the price of a year ago, Paul Bryan, owner/broker of Bryan Properties Inc. Realtor, tells GlobeSt.com.
ATLANTA-Sam Himmelrich of Baltimore and Simeon Bruner of Cambridge, MA are showing interest in buying and redeveloping the 77-year-old, two-million-sf former Sears warehouse-distribution center on Ponce de Leon Avenue. The bid deadline is March 17.