DEERFIELD BEACH, FL-Moldy Holdings LLC paid $940,000, or about $99.03 per sf, to Colangelo Holdings LLC for the 9,492-sf building here. The company is moving from a leased location in Boca Raton, FL.

PALM BEACH, FL-Altima International Inc. and Citi Properties Inc. formed Altima International Properties Inc., based here, which will serve developers' acquisition and marketing needs. Altima International Properties will serve West Palm Beach and the surrounding area.

MIAMI-Tarpon Bend Restaurants has hired the Prakas Group to procure between five and 10 sites in South Florida, perhaps north to Orlando. The restaurants would cost $1 million to $1.5 million each and be about 6,000 sf to 7,000 sf each, for a total of approximately 32,500 sf to 65,000 sf.

MIAMI-Rental rates are rising, and vacancy rates are falling, states Terranova Corp.'s Fall 2003 Miami-Dade County Shopping Center Update released recently. Countywide, the retail vacancy rate dropped from 7.65% three years ago to 6.93% currently.

MIAMI-The 75%-occupied building is the fourth-largest office building here. A major goal is to increase the occupancy level and restore the image of the 38-story, 619,684-sf building.

MIAMI BEACH, FL-The California Public Utilities Commission has the merger on its Dec. 18 agenda. The Lennar/LNR entity's acquisition of Newhall Land is subject to CPUC's approval of the pending application to transfer control of Valencia Water Co, a wholly owned subsidiary of Newhall Land, to a company owned by Lennar Corp. and LNR.

CORAL GABLES, FL-The real estate company's call for redemption of outstanding 7% convertible subordinated notes due April 1, 2005, as of Nov. 25 meant the redemption of nearly $13.4 million of the remaining $34.1 million principal amount of the notes.

CAPE CORAL, FL-Snappers Inc. signed a lease with the property owner, RealMark Marina Grill LLC, to operate the project here long term. It is the first waterfront restaurant in town.