BOYNTON BEACH, FL-The 10-year lease is worth about $2 million. Bealls Outlet Stores plans to open in the space, located at Boynton Trail Centre here across the street from a recently opened 90,000-sf Bealls Department Store, by May 1.
MIAMI-EA Fish Associates of Boston expects construction on Latitude on the River to start in the fourth quarter. The project will include a 44-story condominium tower and a 21-story, class A commercial and retail building.
WEST PALM BEACH, FL-The company plans to convert the 200-unit, class A multifamily property St. Andrews at Palm Beach Lakes to condominiums. The financing, arranged by Holliday Fenoglio Fowler LP, was provided by Merrill Lynch Capital and Colonnade Properties.
DEERFIELD BEACH, FL-Hillsboro Executive Center North, which totals 167,000 sf in six buildings, was sold to HEC Investments LLC for approximately $94 per sf. Morgan Stanley and Fidelity Investments sold the park, near Boca Raton.
MIAMI-The South Florida-based developer is planning to start construction on the 11 low-rise Alhambra Cove Apartments in March. The 240-unit project should be completed in October.
MIAMI-The Onyx on the Bay sales center is located at 665 N.E. 25th St. The development, set to break ground this September, will consist of 118 residences in 28 stories.
FORT LAUDERDALE, FL-The loan, through Wachovia, is for the development of Vue Residences & Beach Club here. Construction on the first of two towers has begun, with the second not far behind. The 15-story towers will be built at the same time and have a planned completion date of the first quarter of 2005.
MIAMI-MLJ Holdings LLC, whose principals own Webeco Foods, paid about $61.32 per sf for the building. Plans call for Webeco to install a 15,000-sf refrigeration system and operate from the 31,800-sf building.
MIAMI-Jovan Luis Aguiar Living Trust paid about $525.10 per sf to Warren W. Pleskow for the 3,047-sf Pollo Tropical restaurant, built here in 2002. Marcus & Millichap handled the sale.
NORTH MIAMI BEACH, FL-Net income rose almost 59.4% and funds from operations grew 97.6% last year, compared with 2002, for the shopping center REIT based here. The fourth-quarter figures also were up significantly.