ORLANDO-Longtime business associates Daryl M. Carter and Scott E. Crossman pay auto dealers Denis Moredo, Harris M. Ganey and Jan C. Ganey about $25 per sf for 0.59 acres at the southeast corner of Orange Avenue and Grant Street.
ATLANTA-In a letter to shareholders, signed by Post Properties' chairman Robert C. Goddard III and president/CEO David P. Stockert, the directors charge former chairman John A. Williams with setting up an "enormous contract" for Edward Lowenthal, the prospective CEO if Williams wins the May 22 proxy fight.
ATLANTA-The Chicago-based developer plans to break ground in June on an $8 million, high-velocity facility at Greenwood Industrial Park in Henry County and have it completed by spring 2004. Ford will lease the property for 10 years.
ORLANDO-David A. Siegel, Florida's high-profile leisure-product developer, tells Gov. Jeb Bush he would like to lease all or part of the 67-year-old, 300-acre outdoor attraction in Winter Haven, FL if the state buys the property from a group of seven owners.
ATLANTA-The brokerage team of Marc Robinson, Chris Johnston and Joshua Goldfarb tells GlobeSt.com that condo conversion deals, hot in the 1999-2000 period, are still surfacing, particularly among trophy properties in desirable areas.
ORLANDO-In the biggest transaction in its five-year history, the locally based REIT has contracted to buy the 8,271-room, 57-property RFS Hotel Investors Inc. of Memphis, TN for $383 million in cash ($12.35 per share) and the assumption of $304.6 million of total debt.
ATLANTA-Unanchored strip centers continue to be a hot commodity among cost-savvy investors, as the sale of the newly constructed, 31,500-sf property in suburban Stockbridge, GA by Crotts Enterprises to Network 21 Neighborhood Centers indicates.
TAMPA, FL-The London-based container shipping company decides to remain in Downtown Tampa at TIAA-CREF's 36-story tower for another three years at an estimated aggregate rent of $9.7 million. The lease is the largest class A office deal this year in west Central Florida.
ATLANTA-The Q1 exit of the federal General Services Administration from one million sf helped increase the metro Atlanta net absorption number to a negative 1.18 million sf, marking the eighth consecutive quarter of negative absorption.
TAMPA, FL-Continued weak demand raises class A office vacancies to 16.93% in Q1, up 2.5% from 14.36% in Q4 of 2002. Colliers Arnold Commercial Real Estate Co. analyst Jeremy Kral predicts vacancies could top 17% by yearend.
