Miami

ORLANDO-In Central Florida's biggest office deal of the year, Inland Real Estate Acquisitions Inc. of Oak Brook, IL paid an estimated $88 million for 440,000 sf of class A space in three of the four existing office buildings at the 109-acre Celebration Place Office Park in Celebration, FL, 20 miles south of Downtown Orlando.

WESLEY CHAPEL, FL-The Pasco County Commission has just given the go ahead for the proposed Cypress Creek development, a multi-faceted project that would bring a hotel, office space, retail space and residential units to the largely undeveloped area.

BOCA RATON-The Renaissance Hotel completes a $9 million renovation project that began 18 months ago. The 189-room property existed as a Sheraton Hotel for nearly 20 years before Detroit, MI-based owner Trident-Allied LLC reinvented the property under Marriott's Renaissance brand.

PALM BEACH GARDENS, FL-Prison REIT Correctional Properties Trust files a universal shelf registration with the Securities and Exchange Commission. The registration statement allows the company to offer $250 million of its common stock, debt securities and warrants.

MIAMI-Metropolitan Life Insurance Co. of New York sold the three-story, 69,708-sf, 87%-leased Brandywine Center I office/restaurant complex in West Palm Beach, FL for $7.04 million or $100.57 per sf in March, as GlobeSt.com previously reported.

ORLANDO-The 400 members of Teamsters Local 385 are pinning their hopes on a federal mediator to determine if a new three-year contract that doesn't guarantee a 40-hour work week is legal. The workers say they will strike without a contract.

ORLANDO-The vacation rentals and timeshare booking service is adding 498 condominium units to its management/marketing portfolio with the signing of Maesbury Homes Inc.'s 116 rental condos on Lake Davenport. The value of the contract wasn't disclosed.

TAMPA, FL-Steve Green of Green Realty Management, White Plains, NY, paid Howard Shiffman of Davna Investments, Largo, FL, $5.6 million in an all-cash deal for the 92%-occupied, 188-unit Ashley Square Apartments, 5505 N. Hines St., Tampa.