Top Stories in Florida Commercial Real Estate

Home prices improve in 2Q, Case-Shiller index shows

Tuesday, August 31st, 2010

NEW YORK - Data through June 2010, released by Standard & Poor's for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index rose 4.4% in the second quarter of 2010, after having fallen 2.8% in the first quarter.

Pasquale Kuritzky: List Industries

Tuesday, August 31st, 2010

FORT LAUDERDALE - Harlan Kuritzky, vice president of Pasquale Kuritzky Architecture Inc., announced that construction permits have been received and construction is under way on projects in Deerfield Beach and Wilton Manors.

Phoenix Realty Group closes 23,000sf sale

Tuesday, August 31st, 2010

JACKSONVILLE - Grubb & Ellis|Phoenix Realty Group Inc. announced the sale of 23,795sf to Powerline Hardware at 6841 South Philips Parkway Drive. Bobby Gatling represented the buyer, and Bryan Bartlett, SIOR, vice president, represented the seller.

RCC Associates: H&M

Tuesday, August 31st, 2010

PALM BEACH GARDENS - Sweden-based H&M Hennes & Mauritz L.P. has selected RCC Associates construct a 20,085sf H&M flagship store location at the Gardens Mall.

Referred to as the IKEA of fashion, H&M has expanded substantially in recent years with around 2,000 stores in 37 markets. The company currently has two Florida locations, both in the Orlando area.

Commercial Florida marks 6,200sf sale

Tuesday, August 31st, 2010

BOCA RATON - Peter D. Reed and George Sacks, principals of Commercial Florida Realty Services, announced the sale of 6,245sf at Sanctuary Centre, Suite D200, at 4800 North Federal Highway, Boca Raton. The condominium unit was sold to Smart Travel Group Ltd. for $875,000.

Sanctuary Centre is 180,000sf office condominium project located in the affluent eastern Boca Raton submarket where Yamato Road intersects with Federal Highway. Commercial Florida manages and markets the Sanctuary Centre.

Blue Rock eyes apartment buys

Tuesday, August 31st, 2010

ORLANDO - Blue Rock Partners LLC is on its way to doubling its Orlando-area holdings to 2,014 apartment units with its Aug. 20 acquisition of the 168-unit Woodbridge Apartments at 7745 Brandywood Circle in Winter Park, plus two more complexes under contract totaling another 798 units slated to close in September and October.

Konover South closes Wireless Tech lease

Tuesday, August 31st, 2010

DEERFIELD BEACH - Konover South LLC announced that Wireless Tech has signed a long-term lease for 1,250sf at its Publix-anchored 85,000sf Inverrary Falls retail center at Oakland Park Boulevard and Inverrary Boulevard in Lauderhill.

Konover South leasing specialist Vivian Ricardo represented Konover South in the transaction. Other major tenants include Bank Atlantic, Golden Krust, Gourmet China and H&R Block as well as Little Caesar’s, Sarah’s Beauty Supply & Accessories, the UPS Store, Wachovia Bank and others.

Cuhaci & Peterson: College Park Vet Clinic

Tuesday, August 31st, 2010

ORLANDO - Cuhaci & Peterson Architects LLC has been awarded a contract to start permit drawings for renovation of the College Park Vet Clinic on Edgewater Drive in College Park.

Lonnie Peterson, chairman of Cuhaci & Peterson Architects, said the contract was awarded by general contractor M. Paul Construction and will include 2,000sf.    
 

Grubb & Ellis marks 22,000sf renewal

Tuesday, August 31st, 2010

ORLANDO - Grubb & Ellis|Commercial Florida negotiated a long-term renewal lease for 22,353sf of industrial space at 7803 Southland Blvd. in the Orlando Corporate Center.

Jan Boltres, CCIM, senior vice president, and Michael T. Davis, vice president in the Industrial Group at Grubb & Ellis|Commercial Florida, brokered the transaction representing the tenant, Tape Products Co. of Cincinnati, Ohio, and the landlord, Orlando-based Prologis. The lease is valued in excess of $500,000.

CBRE closes 13-acre sale

Tuesday, August 31st, 2010

FORT MYERS - Coconut Living LLC purchased 13.6 acres known as the Murano at Coconut Point at Pelican Colony Boulevard, Bonita Springs, from Servco Inc. for $2,500,000. Jonathan Richards of CB Richard Ellis, Fort Myers/Naples represented the seller, and Stephen Hagenbuckle of Heights Realty & Investments represented the buyer.

Symark LLC leased 1,148sf office in the Newgate Center at 5150 Tamiami Trail N., Suite 301, Naples, from Executive Development Corporation. Doris Taylor of CB Richard Ellis, Fort Myers/Naples negotiated the transaction.