MIAMI-The locally based REIT paid an undisclosed seller $2.6 million or $44,214 per sf for the 100%-leased, 58,804-sf Salerno Village Shopping Center in Martin County, five miles south of Stuart, FL and 35 miles north of West Palm Beach.
ATLANTA-The locally based wireless network provider is taking the space for an estimated five years at an aggregate rent of about $2.13 million, area brokers tell GlobeSt.com. Property owner Denholtz Associates didn't disclose lease terms.
ORLANDO-The locally based resort developer projects final buildout sales on the twin Muirfield venture at the north Florida Seascape Resort in Destin, FL will be $130 million. The company has pre-sold half of the 220-unit Muirfield I complex.
ORLANDO-The fourth largest furniture chain in the United States paid an average $2.75 million each for the sites at 4545 E. Colonial Drive and 2000 Principal Row in Orlando and 645 W. State Road 436 in Altamonte Springs.
ATLANTA-The Oak Brook, IL-based REIT paid ZP No. 108 LLC of Wilmington, NC $7.62 million or $96.14 per sf for the 79,253-sf, 100%-leased, one-year-old Target Center Shopping Center in Columbia, SC.
ORLANDO-The 2,048-room Riverside Hotel, also a part of the park's Port Orleans resort, reopened in March after closing in fall of last year. The 26-year-old River Country, however, closed in April and is expected to stay closed. River Country was Disney's first water park.
MIAMI-A first-quarter Cushman & Wakefield study reports rising vacancies of 16.2% in Miami-Dade County; 20.8% in Broward; and 14.1% in Palm Beach. Brickell Avenue, Miami's financial district, could be in for a shock as 236,000 sf becomes vacant over the next 15 months.
ATLANTA-Colonial Properties Trust of Birmingham, AL has sold a five-property multifamily asset package in Alabama and Florida to Philadelphia-based CMS Cos. for $44,872 per unit.
ATLANTA-The Tennessee-based subsidiary of Innovo Group Inc. paid $24,500 per unit for 4,000 apartments nationwide. The sellers are Dallas-based Transcontinental Realty Investors, American Realty Investors Inc. and Income Opportunity Realty Investors Inc., all directed by Gene Phillips, former president of the bankrupt Southmark Corp.
