MIAMI-Occupancy is at 65.8%, down 9.6% from last year while average daily room rates are down 6.8% to $113.72 because of a slow economy, fewer foreign tourist and fear of terrorism, Smith Travel Research of Hendersonville, TN says in a new report.

MIAMI-Recent economic downturns and trouble in the telecommunications field have made potential investing corporations skeptical of Pinnacle Holdings Inc.'s proposal to exit Chapter 11 protection under the U.S. Bankruptcy Code.

MIAMI-Occupancy is at 65.8%, down 9.6% from last year while average daily room rates are down 6.8% to $113.72 because of a slow economy, fewer foreign tourist and fear of terrorism, Smith Travel Research of Hendersonville, TN says in a new report.

MIAMI-NAI/Merin Hunter Codman Inc. has broken ground on Fairway Office Center, a planned 88,200-sf, 12.5-acre venture off PGA Boulevard and across from the Florida Turnpike. The land cost was $2 million or about $160,000 per acre ($3.67 per sf).

MIAMI-CIBC World Markets, the investment and merchant banking arm of the 134-year-old, Toronto-based Canadian Imperial Bank of Commerce is providing a fixed-rate, 10-year loan at 7.2% interest to Johnson Capital Partners of Arizona for its 220,658-sf, 98%-leased Boulevard Square in Pembroke Pines, FL.

MIAMI-The Coral Springs, FL-based retailer signs a 10-year contract at the 25-year-old, 145,671-sf Northlake Commons, which is reopening in December after a total renovation.

MIAMI-The Birmingham, AL-based lender is providing Greystar Real Estate Partners of Charleston, SC and TMW Realty Advisors of Atlanta $15.81 million and Atlantic Partners II LLC of Greenwich, CT $9.2 million. Both projects are in Palm Beach County.

MIAMI-Leasing activity has dropped 25% to the 3.3 million-sf mark and net absorption is at a negative 725,835 sf, down from a positive 282,000 sf last year at this time, according to a second-quarter study by Cushman & Wakefield of Florida Inc.