ORLANDO-"There is a ton of cash sitting on the sidelines, waiting for distress to depress prices," Trevor Hall Jr., vice president, Colliers Arnold Orlando, tells GlobeSt.com.
ALTOONA, FL-Human Services Associates of Orlando outbid a dozen buyers for the 32-year-old, 67-acre property, 35 miles northwest of Downtown Orlando. The shuttered, financially-ailing former foster care facility will reopen in 2002.
ORLANDO-BJ's Wholesale Club Inc. of Natick, MA plans to open three outlets by the first quarter in south Orlando, east Orange County and Sanford, FL as big-box developers watch stand-alone retailers, such as Walgreens, Eckerds and 7-11 convenience stores, pull customers away from regional malls and neighborhood shopping centers.
CLERMONT, FL-Lake County commissioners decide not to appeal Gov. Jeb Bush's Oct. 31 decision which gives Orlando landowners Willoughby T. Cox and Karick Price another five years to develop the planned $1.2 billion mixed-use rural undertaking, 30 miles west of Downtown Orlando.
ORLANDO-The 200-member Central Florida Hotel & Lodging Association presented its annual Charles Andrew Hospitality Award Dec. 15 to Bill Peeper, president, Orlando Orange County Convention & Visitors Bureau.
ORLANDO-BJ's Wholesale Club Inc. of Natick, MA plans to open three outlets by the first quarter in south Orlando, east Orange County and Sanford, FL as big-box developers watch stand-alone retailers, such as Walgreens, Eckerds and 7-11 convenience stores, pull customers away from regional malls and neighborhood shopping centers.
JACKSONVILLE, FL-The Houston-based REIT bought the 305,000-sf, 17-year-old, 97%-leased Argyle Village Shopping Center from Tampa, FL-based Euro American Advisors for $73.68 per sf. The REIT also purchased a 962,800-sf bulk warehouse portfolio in Lakeland, FL and Norcross, GA from National Life Insurance Co. for $24.4 million or $25.34 per sf.
ORLANDO-Net absorption for the third quarter totaled 926,262 sf, the highest single quarter absorption number Grubb & Ellis Co. has recorded since first quarter 2000. Vacancies are at 9.3%, down one percentage point from the previous period.
LEESBURG, FL-Elected city officials are sending surgeon/developer Clayton Pruitt's proposed 3,334-acre, mixed-use venture to the Florida Department of Community Affairs after assuring themselves water, sewer, utility and other infrastructure elements would be available for the 20-year undertaking.
