Office

LONDON-The Portfolio Property Fund has bought 52/54 Southwark Street, London SE1 from the Milton Group to show an equivalent yield of 8.65%. The fund has now bought 11 properties, and also invests in property company shares.

MIAMI-A new report by Cushman & Wakefield of Florida Inc. shows vacancies at 14.6% in Broward, up 1.1%; and 14.2% in Dade, up 2.9%. Palm Beach County's vacancy rate moved down slightly in the second quarter from 12.9% to 12.8%.

LONDON-The UK commercial property market has shown a significant slowdown, according to a new survey from agents GVA Grimley and the Confederation of British Industry.

NATICK, MA-REON Broadband establishes a partnership with Franchi Management Company Inc. The internet and broadband service provider will offer high-speed internet and other broadband services to eight of Franchi Management's commercial office buildings throughout the Metro West area.

ATLANTA-The 55-year-old, Toronto-based engineering, consulting and management firm, with a three-year-old Atlanta presence, is relocating its U.S. headquarters to 66 Perimeter Center East from Chamblee Tucker Road in July. The five-year lease has an estimated aggregate rent value of $2.1 million.

SOUTHFIELD, MI-The Chicago-based real estate firm focusing exclusively on the business space user moves to the center of Southeast Michigan market activity. The office previously had been located in Bingham Farms, MI.

ORLANDO-The Atlanta developer has won an OK from Orange County's planning committee but still has to satisfy residents demands for more space between the proposed single-story, 250,000-sf commercial project and nearby homes.

ORANGE COUNTY, CA-Private developer Tim Strader Sr. and his partners win the planning commission's approval to build a 10-story office tower in Newport Beach. Under a new law, the project now also needs to win a public vote.