ORLANDO-Although Orlando is still considered a prime market for institutional investors, private capital buyers will be competing more aggressively with the publicly-traded firms this year for trophy properties now that interest rates have dropped and the supply of prime development sites is dwindling, finds a new CB Richard Ellis Inc. analysis.
CONCORD, NC-The suburban Charlotte marketer/promoter, which owns and operates six auto race tracks encompassing an estimated one million sf of industrial space, crossed the fiscal 2000 finish line in high-flying fashion with record profit and sales.
CHARLOTTE-The proposal has the NBA Hornets signing a 25-year lease with the city that would have an escalated aggregate value of about $200 million. The city would pay an estimated $235 million for the construction, land acquistion and infrastructure of the new court.
CLERMONT, FL-Wal-Mart Stores Inc., turned off by this city of 8,145 permanent residents two years ago, now holds the key to helping the area resolve a multi-million-dollar development by Home Depot Inc.
ORLANDO-Prohibiting new housing and mixed-use developments in areas lacking in schools is one of a laundry list of suggestions the governor begins studying today from a 23-member panel he hand-picked seven months ago.
CHARLOTTE-The locally headquartered banking company is giving the green light to Charlotte's Grubb Properties and Richter & Associates to build the Ratcliffe on the Green, a 10-story, 57-unit shelter venture in the 400 block of South Tryon, next to the bank's 32-story building.
ORLANDO-The locally based timeshare developer reported fourth-quarter earnings of 40 cents per diluted share, up 33%, on revenue of $146.5 million, up 22%. The company is scheduled to merge with New York-based Cendant Corp. April 2 in a previously-announced stock-cash deal valued for at least $635 million.
ORLANDO-Inns within Central Florida's main tourist corridor, the Lake Buena Vista hub dominated by the 30,000-acre Walt Disney World attraction, were 67.8% full in December, the area's highest occupancy level.
JACKSON, MS- EastGroup Properties Inc. boosted funds from operations in the last three months of 2000 by 14.5% to $12.6 million from $11 million in the same 1999 period. For the year ended Dec. 31, the publicly traded firm's FFO increased by 20.7% to $47.8 million versus $39.6 million for the prior year. EastGroup is hosting a conference call at 2 p.m. today.
ORLANDO-Homegrown brothers James and Charles Veigle await a Circuit Court judge's ruling this week that could decide the fate of one of the most profitable assets in their real estate-entertainment-auto brokerage empire--a two-story, 15,000-sf suburban Orlando adult nightclub netting $400,000 a month.
