NORTH MIAMI BEACH, FL-The locally based REIT also had significant increases in net income and revenue for the second quarter and the first half of the year, compared with the comparable periods last year.
MIAMI-Fullerton-Diaz of Coral Gables was named the architectural firm for Platinum. The $40 million project will include 119 units in 22 stories. It is set to break ground this fall and be completed in spring 2005.
KEY WEST, FL-Robert Spottswood is the general partner of the buyer, which paid about $77,477 per room to LaSalle Hotel Properties of Bethesda, MD for the 222-room upscale Holiday Inn Beachside Resort here.
RIVIERA BEACH, FL-Alex Shelton LLC, doing business as Joy Enterprises, paid nearly $1.4 million for the 19,000-sf building here. The seller, a developer, also is planning to build 4,000 sf of office space for the new owners, not included in the building sale price.
NAPLES, FL-Hammock Woods LLC of Fort Myers paid $12.4 million to Alanda Ltd. for the property here and is planning to develop it into a 181,000-sf medical office park and about 150,000 sf of retail space.
MIAMI-The overall vacancy rate in the market increased slightly to 10%. Meanwhile, due to an increased demand for space and healthy leasing activity, the second half of the year is expected to bring improvements in the market.
SUNRISE, FL-Medical Web Services signed a five-year lease, and Consulting Connections and Bombardier Recreational Products each inked three-year deals at the 612-acre park here. The transactions are worth an estimated $586,000 or more total.
FORT LAUDERDALE, FL-The $220 million, two-tower, 23-story project will be the first W Hotel in the state. The project, which will feature a 346-room hotel and 171 luxury residences, is set to open in December 2006.
