ATLANTA-Minchew Enterprises Inc., a 27-year-old Marietta, GA-based developer, has come up with an apparent winner in the 16-building, 200,000-sf venture that is an alternative to traditional leasing. The complex has only 50,000 sf left after opening in April 2000.
ORLANDO-Compared to other product, apartments generally have lower risk; less management; more liquidity; greater opportunity to raise rents and sales prices; and get the ear of lenders quickly, brokers, developers and investors believe.
ATLANTA-The 334-unit Crestmark apartments in suburban Douglasville, GA, 10 miles west of Downtown, was sold for $74,850 per unit to an unidentified buyer.
TAVARES, FL-Multifamily and single-family projects help jump the tax roll to $8.46 billion, up 10% from $784 million the previous year in a county with only 210,528 permanent residents. Tavares, the county seat, is 38 miles northwest of Downtown Orlando.
ATLANTA-The locally based telecommunications services provider will remain in its 17,000-sf offices in Building 200, Highwoods Center at Deerfield, in suburban Alpharetta, GA, 25 miles north of Downtown Atlanta.
CLERMONT, FL-Local dermatologist Dr. David L. Allyn and developer Bob Thompson are breaking ground on Clermont Professional Center, a four-building, 110,000-sf venture at an estimated hard construction cost of $10 million, 25 miles west of Downtown Orlando.
ATLANTA-The five-year-old, locally based architecture firm has $175 million of commercial work on the drawing boards including new categories such as health care, private sector and religious facility development.
CLERMONT, FL-The 440-unit, country-style restaurant chain from Lebanon, TN, a Nashville suburb, plans to break ground in October on an estimated 5,000-sf location at the Kash n' Karry Shopping Center in Clermont, FL, its second site in Lake County. Clermont is 25 miles west of Downtown Orlando.
LAKELAND, FL-The 187-unit multifamily Angler's Cove Manufactured Community received $2.85 million and the 153-unit Angler's Cove West Manufactured Community obtained $2.35 million in separate refinancings brokered by Collateral Mortgage Capital of Birmingham, AL. Lakeland is 40 miles south of Downtown Orlando.
ATLANTA-The nation's largest branded marketer of baby and toddler apparel, based in suburban Morrow, GA, is being sold in a deal valued at $450 million. Included in the deal are William Carter's 149 retail stores totaling an estimated three million sf. New York's Investcorp is Carter's partner.