ORLANDO-Although restaurant and retail sales in some tourist corridors are off by more than 10%, land prices remain steady. Shopping center sites over 10 acres are in the $6 psf range. Outparcels are selling for $13 to $18 psf.
ORLANDO-The Quest Co., positioning itself as a heavy hitter, has lured three seasoned pros from Arvida Realty Services to strengthen its retail and multifamily brokerage side.
MANTECA, CA-Build-out problems have a would-be Web-based drycleaner behind schedule for occupancy of a 96,000-sf building in Spreckels Industrial Park.
HOUSTON-San Diego-based Newland Communities' recent purchase of Genstar Land Co. and its holdings, will accelerate development of the partially-completed, 1,500-acre Summerwood in northeast Houston, says the Texas division president. Meanwhile, plans are in the offing to buy another 1,000 acres for development west of the city.
PORTLAND-Emporium, Montgomery Ward and Rite Aid will be replaced by Home Depot, 24/Hour Fitness and Mars Music, a Florida-based company just beginning to place its 25,000-square-foot superstores on the West Coast.
BROOMFIELD, CO-An Austin investment company has set a record price of $116,988 per sf for an apartment complex in Broomfield, a bedroom community between Denver and Boulder. Earlier this week, GlobeSt.com reported a Colorado Springs sale set a record, bringing in $13.7 million or $97,857 per unit for the 140-unit Autumn Heights Townhomes at the foot of Cheyenne Mountain.