COCONUT GROVE, FL-Falor Cos. and an institutional partner have reached a definitive agreement to buy the 179-room hotel here from Lodgian. They want to drop $6.5 million into renovations and sell the property as condo units. Falor is working on other hotel acquisitions in South Florida as well.
MIAMI-The 13-story, class B+ building contains 286,822 sf. It is 92% occupied by such tenants as SunTrust Bank; Hencorp Becstone; and the law firm Jordan, Burt, Berenson & Johnson. Taylor & Mathis previously had the leasing assignment.
MIAMI-Solaris, a project of H&H Development Co., will have 138 one-, two- and three-bedroom residences priced from the low $200,000s. Construction is set to begin this summer and be completed in the fourth quarter of 2005.
BROWARD COUNTY, FL-The first-quarter results contribute to the positive forecast in the market for this year, according to Cushman & Wakefield. While leasing activity was down slightly in the first quarter, it, too, is expected to improve.
MIAMI-Six companies have inked recent deals at the park, totaling more than 29,000 sf, including one mid-term renewal by Syntheon for 16,077 sf of space. The others to sign: Walgreen's, Datapro, Eastman Kodak, Sound Solutions Americas and Dom-Ex.
MIAMI-Behar Font & Partners PA of Coral Gables, FL, is the architect for the planned 16-story, 181-unit boutique condominium project. The building's design includes a retail arcade to run the length of the building.
PALM BEACH COUNTY-There was positive absorption in the first quarter--169,932 sf of absorption in fact--according to a new C&W report. That means recovery, says the brokerage firm.
MIAMI-This planned 23-story building is the commercial component of Latitude on the River downtown. Darryl Robinson and Peter Harrison will lead the sales effort for the 231,000 sf of class A office space.
BROWARD COUNTY, FL-The overall vacancy rate has fallen for the fifth quarter in a row, says a Grubb & Ellis report. Meanwhile, the vacancy fell in many submarkets in the first quarter, and eight of 10 suburban submarkets had space gains.