COCONUT GROVE, FL-The submarket has been considered very successful for several years, so tenants quit looking for space because the area was known for not having it. Now, new space in the submarket and relocations have contributed to the vacancy hike, which has spawned renewed interest in locating there.
MIAMI-A Woolbright Development Inc. affiliate sold the 110,867-rentable-sf, Publix-anchored Tamiami Trail Shops for $16.2 million, or $146 per sf of rentable space. Built in 1987, the property was 100% occupied at the sale.
FORT LAUDERDALE, FL-The sale of the 91-unit, eight-story, 77,850-sf apartment complex includes a single-family, waterfront home. DSI at Le Cercle LLC paid about $116,484 per unit to Mauka, Med. LLC for the property.
FORT LAUDERDALE, FL-The Philadelphia-based real estate investment trust is planning a major renovation of the 102,000-sf, six-story building here to bring it to class A office space. The property has been vacant since 2001.
PALM BEACH COUNTY, FL-Many submarkets, especially Boca Raton, experienced more positive results in the second quarter. The county overall, however, continues to struggle for recovery, while some signs are apparent.
WEST PALM BEACH, FL-John MacConnell, an attorney and real estate industry professional, was hired as director of contract finance and general counsel. The contract finance division will serve as the closing group for Bond Street Capital's real estate products.
MIAMI-Alan Roscoe paid $135 per sf for the 10,000-sf building here. He plans to relocate his law firm to the 19-year-old building, which was on the market for 30 days.
FORT MYERS, FL-Janie Hooker, who was formerly affiliated with the company, previously worked in residential real estate. She is responsible for operations of the company's 14 commercial real estate brokers in Fort Myers and Bonita Springs.
MEDLEY, FL-The construction firm based in Coral Gables, FL estimates the construction cost to be $13 million. Scheduled to break ground Aug. 1 and to be finished this year, the facility will be an expansion of Preferred Freezer Services Inc.'s South Florida operations.
MIAMI-The former apartment complex turned office building has been gutted and work has begun to convert it into a 239-unit condominium project. Miami Beach-based Karlton Properties is developing the site.
