Commercial Property News Home > Regional Real Estate News > Southeast Real Estate Market
Regions Southeast
Parkway Pockets $25M in Sale of St. Petersburg Office
Aug. 20, 2008
Parkway Properties Inc. has concluded the $26 million disposition of Wachovia Plaza, a 186,000-square-foot office asset in St. Petersburg, Fla., that the company has owned since 1998.
Och-Ziff, Kolter in $1B Southeast Residential JV
Aug. 20, 2008
New York-based Och-Ziff Capital Management Group and Kolter Group of West Palm Beach, Fla., have announced the formation of a $1 billion joint venture that will target residential properties in the Southeast that are at any stage of development, from undeveloped, unentitled land to finished projects.
Ramco-Gershenson Adds Shopping Center to Florida JV
Aug. 19, 2008
Ramco-Gershenson Properties Trust has sold the 330,000-square-foot Plaza at Delray shopping center in Delray Beach, Fla., to its $450 million joint venture with the state of Florida, which is advised by Heitman L.L.C.
Fort Meyers Chooses Acquest for Riverfront Project
Aug. 19, 2008
Downtown Fort Myers, Fla., is undergoing a renaissance and Acquest Realty Advisors Inc. will play a big role in the endeavor, now that the city council has selected the Bloomfield Hills, Mich.-based company to spearhead the development of a waterfront mixed-use project.
Fowler Buys 420-Unit Atlanta M-F, Plans Upgrades
Aug. 19, 2008
Conifer Crossing, a 420-unit multi-family property in Norcross, Ga., has traded hands for $31.75 million. The buyer was San Francisco-based Fowler Property Acquisitions; the seller, Denver-based Simpson Housing L.L.L.P.
Glynn Mireles Indian Firm Buys Land for $100M HQ in Little Rock
Aug. 18, 2008
Man Industries, a pipe-manufacturing firm based in Mumbai, India, has made its first venture into the United States with the purchase of 155 acres of land in Little Rock, Ark., with plans to build a $100 million facility to serve as its North and South American headquarters. Construction will begin later this month in an existing industrial area on Greenfields. No targeted completion date was released.
Liberty Takes Class A Florida Office
Aug. 18, 2008
Liberty Property Trust is expanding its portfolio in the Sawgrass International Corporate Park in Sunrise, Fla., with the acquisition of a 107,000-square-foot Class A office building. The REIT bought the building at 13621 NW 12th St. from Real Estate Capital Partners, but did not release the purchase price. The building is fully leased by UnitedHealthcare.
RFP Closes 86,000 SF of Renewals, Expansions at RiverEdge in Atlanta
Aug. 18, 2008
RFP Mainstreet RiverEdge L.L.C. has closed more than 86,000 square feet of renewals and expansions at its RiverEdge office development in Atlanta’s Northwest submarket. The firm was represented by Jones Lang LaSalle. RFP Mainstreet RiverEdge acquired RiverEdge, a two-building, nearly 500,000-square-foot office complex, last year.
CPN South Florida Property Opportunities Conference Keynote: Some Doom, Some Gloom, but Plenty of Optimism
Aug. 16, 2008
South Florida cities rank high in foreclosure volume, commercial deals are hamstrung by the credit crunch, and property values are down 6 percent, said Matt Haggman, a real estate reporter at The Miami Herald, who keynoted Friday morning’s South Florida Property Opportunities Conference, presented by CPN. Nonetheless, Haggman remains optimistic about South Florida’s commercial real estate prospects.
$70M All-Suite Hotel Debuts Near Disney World in Orlando
Aug. 15, 2008
The Mona Lisa Suite Hotel has opened its doors in Celebration, Fla., adding 240 guest rooms to the market surrounding Walt Disney World.
Miami Mixed-Use Project Resumes with Extension on $60M Loan
Aug. 15, 2008
ArteCity Holding Ltd., developer of the mixed-use ArteCity project in Miami Beach, can breathe a sigh of relief, now that Corus Bank has extended the maturity of its $60 million loan on the project.
Atlanta Hotel Emerges from $138M Makeover
Aug. 15, 2008
After three years, the sweeping renovation of the Atlanta Marriott Marquis has reached completion.
PRP II, L.P. Forms JV to Develop Savannah Port Logistics Center
Aug. 14, 2008
Perseus Realty Partners, manager of PRP II L.P. plans to develop Interstate Center II, a warehouse facility located 20 miles outside the port of Savannah, Ga., in joint venture with TPA Realty Services and Resource Real Estate Partners.
Palms Shopping Center Sold for $26M
Aug. 14, 2008
Cushman & Wakefield of Florida has finalized the $25 million sale of Hollywood Palms Shopping Center, a 210,864-square-foot retail plaza located at the intersection of Taft Street and North 68th Avenue in Hollywood, Fla.
Rockefeller Plans 1MSF Industrial Park in Florida
Aug. 11, 2008
Rockefeller Group Development Corp. has purchased 113 acres in Lakeland, Fla., with plans to develop an industrial park on the site. RGDC plans to build an industrial park of over 1 million square feet on the site, targeting specifically large-scale tenants. The company intends to begin development on the site in early 2009.
Balfour Beatty Starts Operational Management of Fort Jackson Project
Aug. 08, 2008
Balfour Beatty Communities L.L.C. has announced that it has commenced property management and maintenance services for the military family housing at the U.S. Department of the Army's Fort Jackson located in Columbia, S.C.
RockBridge Takes $46M North Carolina Hotel Portfolio
Aug. 08, 2008
RockBridge Partners, the equity platform of Columbus, Ohio-based RockBridge Capital, has announced the closure of a deal to acquire Gateway Center, a portfolio with four hotels, office and retail space and five acres of land in Rocky Mount, 60 miles east of Raleigh, N.C. William Hull Jr., the original developer, will continue to be involved in the deal as a minority partner. Hospitality Ventures, headquartered in Atlanta, will be the manager for the hotels.
300 Northcreek CBRE Investors Grabs Buckhead Office Park
Aug. 07, 2008
CB Richard Ellis Investors has purchased Northcreek Office Park in the Buckhead community of Atlanta on behalf of the company’s Strategic Partners U.S. 5 fund. The terms of the transaction were not disclosed.
Praedium, Audubon Acquire 938-Unit Atlanta M-F Portfolio
Aug. 06, 2008
The Praedium Group and Audubon Communities Management have teamed up to buy a seven-property multi-family portfolio in the Atlanta metro region for approximately $45 million. The seller was not identified.
Westin Ft. Lauderdale $84M in Financing in Place for Fort Lauderdale Hotel Transformation
Aug. 05, 2008
Plans for the conversion of Fort Lauderdale, Fla.'s Sheraton Yankee Trader Hotel into the 433-room Westin Beach Resort have gotten a big boost with the closing of an $84 million financing deal for the project. Borrower A1A Trader L.L.C., an affiliate of Starwood Capital Group, was able to obtain a senior secured increasing term loan from ING Real Estate Finance, which took on the roles of Administrative Agent and Sole Lead Arranger on the transaction.
Cousins Properties, The Related Group Complete Sale of Residential Units in Miami
Aug. 05, 2008
Cousins Properties Inc. has announced that it and partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, a 54-story, 528-unit luxury condominium tower in Miami, Fla.
Altamonte Apartments Sold in Tampa
Aug. 05, 2008
Altamonte Apartments in Tampa has sold for $13.7 million to Asset Development & Management Group, reported NAI's John Burpee, chairman of NAI Global’s multi-family group, along with T. Sean Lance, Casey Babb and Bill Renje. The team brokered the sale.
IBM to Build $360M Data Center in Research Triangle Park
Aug. 05, 2008
IBM will expand its presence in Research Triangle Park, N.C., with the development of a $360 million data center on its campus. The green facility will offer cloud computing capabilities and will bring the company's portfolio of cloud computing centers up to nine.
Interstate Hotels Enters into JV to Own Lexington Hotel
Aug. 05, 2008
Interstate Hotels & Resorts has formed a joint venture with an affiliate of Madison W Properties L.L.C. to recapitalize the existing ownership of the former Radisson Plaza Hotel Lexington in Lexington, Ky., and an adjacent 234,000-square-foot Class A office building.
JV Sells Residential Units at 50 Biscayne for $30M
Aug. 04, 2008
Cousins Properties Inc. and its partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, a 54-story, 528-unit luxury condominium tower in Miami, Fla.
 
Atlanta
Fowler Buys 420-Unit Atlanta M-F, Plans Upgrades
Aug. 19, 2008
Conifer Crossing, a 420-unit multi-family property in Norcross, Ga., has traded hands for $31.75 million. The buyer was San Francisco-based Fowler Property Acquisitions; the seller, Denver-based Simpson Housing L.L.L.P.
RFP Closes 86,000 SF of Renewals, Expansions at RiverEdge in Atlanta
Aug. 18, 2008
RFP Mainstreet RiverEdge L.L.C. has closed more than 86,000 square feet of renewals and expansions at its RiverEdge office development in Atlanta’s Northwest submarket. The firm was represented by Jones Lang LaSalle. RFP Mainstreet RiverEdge acquired RiverEdge, a two-building, nearly 500,000-square-foot office complex, last year.
Atlanta Hotel Emerges from $138M Makeover
Aug. 15, 2008
After three years, the sweeping renovation of the Atlanta Marriott Marquis has reached completion.
MORE SOUTHEAST ATLANTA HEADLINES
 
Miami
Miami Mixed-Use Project Resumes with Extension on $60M Loan
Aug. 15, 2008
ArteCity Holding Ltd., developer of the mixed-use ArteCity project in Miami Beach, can breathe a sigh of relief, now that Corus Bank has extended the maturity of its $60 million loan on the project.
Cousins Properties, The Related Group Complete Sale of Residential Units in Miami
Aug. 05, 2008
Cousins Properties Inc. has announced that it and partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, a 54-story, 528-unit luxury condominium tower in Miami, Fla.
JV Sells Residential Units at 50 Biscayne for $30M
Aug. 04, 2008
Cousins Properties Inc. and its partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, a 54-story, 528-unit luxury condominium tower in Miami, Fla.
MORE SOUTHEAST MIAMI HEADLINES
 
Orlando
$70M All-Suite Hotel Debuts Near Disney World in Orlando
Aug. 15, 2008
The Mona Lisa Suite Hotel has opened its doors in Celebration, Fla., adding 240 guest rooms to the market surrounding Walt Disney World.
Local Habitat for Humanity Chapter to Build its First M-F Project
Aug. 01, 2008
Habitat for Humanity Orlando has just announced plans for the development of Staghorn Villas, a 58-unit affordable housing property to be located at the intersection of Staghorn Drive and Silver Star Road.
Hilton Orlando Hotel Hits Construction Milestone
July 25, 2008
Hilton Hotels Corporation has celebrated a new milestone in the construction of the Hilton Orlando with a topping off ceremony. The 19-story building broke ground in May of 2007 and is scheduled to open in the third quarter of 2009. The hotel, connected to the Orange County/Orlando Convention Center, will increase the convention center’s size and will add 1,400 hotel rooms for guests.
MORE SOUTHEAST ORLANDO HEADLINES
 

Latest Southeast Commercial Mortgage Trends


From Atlanta to Florida, CPN delivers all of the real estate trends in the Southeast. Commercial mortgage trends are making a huge impact in today's real estate market, so get the advantage you need to stay on top of your industry. From major property deals to the latest real estate market trends in the Southeast, look to CPN for the most comprehensive coverage.


Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...