MIAMI-While retail sales reached record levels last year, sales are expected to remain strong this year. Meanwhile, vacancy rates are forecast to decrease and rents should increase, a Marcus & Millichap report predicts.

FORT MYERS, FL-Argate Properties, which controls Market Square Associates LLC, is developing the 65,000-sf retail center here with the funding, provided by South Florida's Union Bank. Among the tenants planned for the new center: Comp USA, Cost Plus and Petco.

DELRAY BEACH, FL-Of the 124, seven are in Florida. Fifty to 60 locations will be converted into Office Depot stores, while the company plans to sell the remaining sites. Developers and retailers both have expressed interest in the other locations, a spokesman says.

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 LAKES, FL-Elad Group Florida LLC, based here, also is planning to purchase the remaining four properties in the eight-property portfolio, which Ameriton Properties is selling. The others are expected to close by early next year.

MIAMI LAKES, FL-State Farm Life Insurance Co. provided the financing for the Cap East Building, a 120,242-sf industrial property here. The building was completed about a year ago and was 80% occupied at the time of the financing.

MIRAMAR, FL-In February, the company plans to move from a 4,000-sf space to 10,000 sf at the Miramar Park of Commerce in a mid-term warehouse deal estimated to be worth roughly $280,000.

BOCA RATON, FL-The locally based luxury multifamily community owner bought a 324-unit apartment community, sold a $27.5 million site and sold its 8.3% interest in an apartment owner. In addition, Gables raised its third-quarter earnings guidance.