PALM BEACH, FL-The leases, being acquired from the REIT's main lessee, are the first of 60 hotel leases the company plans to acquire from Innkeepers Hospitality. Innkeepers USA Trust paid Innkeepers Hospitality about $3.8 million cash for the 23 leases.
CORAL GABLES, FL-The deal, at Alhambra Towers here, is estimated to be valued at more than $3 million. Public Service Enterprise Group originally leased the space two years ago but never occupied it. Becker and Poliakoff PA plans to move in to the space in April with a lease that runs through 2012.
MIAMI-A local private investor purchased the 254-unit, class B apartment complex here for $21.2 million. Kendall Lake Towers LLC, the seller in the current transaction, bought the property seven years ago for approximately $5.2 million, property appraiser records show.
SOUTH FLORIDA-A new Marcus & Millichap report shows three key South Florida cities--Miami, Fort Lauderdale and West Palm Beach--will improve their rankings in the company's National Office Index.
FORT LAUDERDALE, FL-The top five performers with vacancy rate improvements were listed in a recent Torto Wheaton Research study. Fort Lauderdale's office vacancy rate dropped from 19.2% a year ago to 16.6% so far this year, according to TWR.
MIAMI-The as-yet-unnamed project will consist of 81 condominium units in five currently vacant buildings. The project, which is the third for Prodigy International Development Sales, has a sellout value of about $40 million.
MIAMI-The as-yet-unnamed project will consist of 81 condominium units in five currently vacant buildings. The project, which is the third for Prodigy International Development Sales, has a sellout value of about $40 million.
AVENTURA, FL-Residents of the 28-story Hamptons South are set to move in at the end of the year, while at the same time, Phase II of the Peninsula, a 30-story, two-tower project, is entering the market.
MANALAPAN, FL-Crescent Real Estate Equities Co. and Westbrook Real Estate Fund IV LP, which each owned 50% of the luxury, 270-key resort here, sold it to an undisclosed private investor.
MANALAPAN, FL-Crescent Real Estate Equities Co. and Westbrook Real Estate Fund IV LP, which each owned 50% of the luxury, 270-key resort here, sold it to an undisclosed private investor.