MIAMI-A joint venture between Forest City Enterprises and the Goldberg Cos., both of Ohio, has paid $68,666 per unit cash to Equity Residential for the 300-unit, three-story, 17-building apartment complex in Fort Myers, FL.
MIAMI-The $34.8 million for the real estate company's first quarter, which ended Feb. 28, compares with $28.3 million for the same period the year before. Net earnings per diluted share also increased, 31% to $1.06.
MIAMI-The Coral Gables, FL-based real estate company grew net income from $3 million in 2001 to $5.6 million for 2002. Revenue increased from $157 million to $190.25 million for the same period.
MIAMI-The park, formerly called Beacon Tradeport and renamed Dolphin Commerce Center, has about 1.1 million sf of leased space and 2 million sf available for development. In addition, two leases recently were signed, and more deals are pending.
MIAMI-The International Sales Group employee has more than 25 years' experience in sales and marketing. The $27 million, 25-story ultra-luxury condominium tower is planned for Miami Beach.
MIAMI-The 5.76-acre property just received zoning for 45,000 sf--of which 30,000 sf is zoned for retail and 15,000 sf for office space. Bonita Boardwalk Inc. sold the land for about $365,439 per acre.
MIAMI-The Dean Building, a 34-unit apartment complex with 11,485 sf of commercial mixed-use space in Fort Myers, FL was built in the 1920s and renovated in the mid-90s. The Dean Building Group LLC bought the building from The Old Morgan Inc.
MIAMI-The overall vacancy rate stayed at 9.4% for the county in the first quarter, compared with the same time in 2002. Net absorption was negative 492,173 sf in the first quarter, and leasing activity increased by 20% to 1.8 million sf compared with a year ago.
MIAMI-The Miami Lakes, FL property has gone from 50% occupancy in September to 94% now. It was purchased by a joint venture between Aquila Property Co. Inc. and AMC Delancey Group Inc. Recent leases have a combined value of about $4.7 million.
MIAMI-Docutek Imaging Solutions Inc. expanded its lease from 13,074 sf to 16,209 sf of industrial/flex space in a deal valued at $355,058; and Management and Marketing Dynamics leased 6,165 sf of industrial/flex space, valued at $150,591.