MIAMI-Miami still lags behind the nation in rebounding, as well as behind last year's occupancy and rate levels. Meanwhile, the future looks uncertain in the eyes of industry experts.
MIAMI-Two additional new tenants bring the leasing total 62,026 sf, aggregately valued at an estimated $2.92 million. The leases are for seven-year to 10-year periods at average quoted rents of $5.40 per sf to $6.35 per sf.
MIAMI-A New Jersey appellate court has denied a move by Century 21 Real Estate Corp. and Cendant Corp. to dismiss a suit alleging the two failed to fulfill obligations to a Miami-Dade County real estate brokerage and other current and former Century 21 franchisees nationwide.
MIAMI-The Miami-based law firm will pay more than $32 per sf to occupy 12,200 sf of office space in the well-known, premier project Boca Center, Tower 2.
MIAMI-The Tamarac, FL, warehouse/distribution facility filled up quickly, leasing about 75% of its space in one quarter. Meanwhile, South Florida's Butters Construction & Development Inc. and partners purchased the 107,804-sf building.
MIAMI-Owner CSC Brazilian LP plans to convert the 76-year-old, 103-room hotel in Palm Beach into luxury condominiums after investing $10 million into ongoing renovations. The late Gary Cooper, Cary Grant and Richard Nixon have been among the property's guests.
MIAMI-The company will continue to occupy the 36,000-sf in Pompano Beach, FL, for a year, at which time the new Fort Lauderdale owners will find another tenant.
MIAMI-The federal Department of Veteran Affairs paid $11.25 million or $35,942 per acre for the 313-acre Wagenberg tract that will house a 120,000-plot national cemetery west of U.S. 441 and State Road 7 in south Palm Beach county.
MIAMI-Codina Realty Services Inc. ONCOR International has signed three new tenants in the 80%-leased Coral Gables,FL building, including Merrill Lynch for 10 years. The leases have a total estimated value of $12.19 million to $13.88 million.
MIAMI-The Lefmark Group sells the recently redeveloped shopping center to Ross Realty of Pembroke Pines for $11.1 million. The center is located in the high-growth Fort Myers area.