FAYETTEVILLE, GA-In the largest retail deal of the year in the state, the Oak Brook, IL-based REIT pays Thomas Enterprises of Smyrna, GA $172 million, or $122.86 per sf, for the eight-year-old Fayette Pavilion in the city, about 20 miles south of Downtown Atlanta.
ATLANTA-Less than three years old, the locally based restaurant chain plans to open 171 new stores nationally, totaling an estimated 478,800 sf of leased premises by the end of 2004.
CLERMONT, FL-After two years of wrangling with local government officials and area residents over development sites, Lake County Planning and Zoning Commission gives the green light to the Bentonville, AR-based retailer for a second Supercenter in South Lake 30.
ATLANTA-The six-year-old, Durham, NC investment and development company pays Northbridge Atlanta Inc. $7.15 million for the 20-year-old Northbridge Shopping Center in suburban Dunwoody, GA.
JACKSONVILLE, FL-Mortgage Flex Systems Inc., a 23-year-old software and systems developer, and DocuTech Corp., a 12-year-old provider of compliance services and documentation technology, will be offering lenders a full-service, online mortgage services package.
ORLANDO-Landlords are giving away everything, including the kitchen sink in some instances, in order to attract new tenants to a soft market where class A rents have dropped from $3 to $4 per sf in several troubled submarkets, says a new Colliers Arnold study.
ATLANTA-The 206,000-sf, open-air shopping center at Dallas Highway (GA 120) and Due West Road had retail commitments that would have brought the property to over 90% pre-opening occupancy had all the contracts been signed, company officials say.
JACKSONVILLE, FL-Belle Rive General Partner Inc. sells the 13-year-old, 104-unit property for $48,077 per unit ($59.41 per sf) to private investor Eric H. Coe. The sale comes as the apartment conversion-to-condo market heats up.
ATLANTA-Four area developers have submitted plans to local government agencies to build a total 932 shelter units and 862,800 sf of warehouse and distribution space in separate projects on 306 acres.
BOYNTON BEACH, FL-Compson Associates of Boynton II LLC pays Boynton Office Owners LLC $25.5 million for the former 566,000-sf, 90-acre phone pager manufacturing plant, about 100 miles south of Downtown Orlando.