Southeast Regional News RSS

Sluggish Miami Office Market Buoyed by 80,000SF Financial District Pre-Lease

Wed, 28 Oct 2009 13:04:59 UTC

While Miami's office market vacancy rate lingers beneath the U.S. average, it has not gone unscathed by the worldwide economic crisis. However, law firm Bilzin Sumberg Baena Price & Axelrod L.L.P's pre-lease of 80,000 square feet at the 576,000-square-foot 1450 Brickell office tower downtown has players in the Miami office market game buzzing. The transaction marks South Florida's largest new office lease this year.

Eyeing Market Opportunities, M-F Developer Expands into Acquisitions

Wed, 28 Oct 2009 13:04:59 UTC

After multiple quarters of dismal investment activity, new funds and investment entities are cropping up to capitalize on the discounted commercial real estate assets that are hitting the market. Atlanta-based Wood Partners L.L.C. has just entered the game, too. The multi-family developer has expanded its business platform to include acquisitions.

Eola Capital Snags Interests in 7.6MSF Office Portfolio

Wed, 28 Oct 2009 13:04:59 UTC

The grip of the credit crunch is reportedly loosening for hopeful real estate buyers, and investors with cash on hand are mining the market for deals, but it is a rare occasion that a transaction involving the general partnership interests in a multi-million-square-foot portfolio transpires these days. Orlando-based Eola Capital, however, recently solidified such a deal, acquiring the general partnership interests in a 7.6 million square-foot office portfolio from Miami-based America's Capital Partners.

Highwoods, USAA Partner to Build FBI Office

Wed, 28 Oct 2009 13:04:59 UTC

Highwoods Properties Inc. and USAA Real Estate Co. were awarded a build-to-suit lease by the U.S. General Services Administration to develop an approximately $45 million field office for the Federal Bureau of Investigation in Charlotte, N.C. The joint venture is scheduled to begin building the 171,000-square-foot, five-story Class A office building and annex in the first quarter of 2010 and complete it in the second quarter of 2011, with certification sought under the U.S. Green Building Council's Leadership in Energy and Environmental Design program. The project is Highwoods' third for the FBI, which is a repeat client of investor USAA's as well, and both have worked extensively with the GSA overall. Highwoods will retain a 10 percent ownership interest in the joint venture, as well as receiving development fees.

Post Sells Atlanta, Fairfax Properties for $100 Million

Wed, 28 Oct 2009 13:04:59 UTC

Post Properties Inc. sold Post Ridge in Atlanta to a locally based entity affiliated with Centennial Holding Company L.L.C. for $44.8 million following Monday's sale of Post Forest in Fairfax, Va., to an entity affiliated with Pantzer Properties Inc. for $57.5 million. CB Richard Ellis Inc. brokered the most recent transaction, while the Post Forest deal was brokered by Holliday Fenoglio Fowler L.P. The REIT expects to report net gains of approximately $54 million relating to the sales.

IDI Leases 171,800 SF of Georgia Industrial Space

Wed, 28 Oct 2009 13:04:59 UTC

Real estate firm IDI has executed a 171,800-square-foot, five-yearlease in Lithia Springs, Ga., with Sensormatic Electronics Corp., aprovider of security and fire safety products and services for thecommercial and residential sectors.

Crossman to Handle Leasing for 10.4MSF Publix Portfolio

Wed, 28 Oct 2009 13:04:59 UTC

Third-party leasing and management firm Crossman & Co. has been named the exclusive leasing representatives for all Publix-owned retail properties in Florida, Georgia, Alabama, Tennessee and South Carolina.

Grubb & Ellis Healthcare REIT to Buy South Carolina Portfolio

Wed, 28 Oct 2009 13:04:59 UTC

Grubb & Ellis Healthcare REIT Inc. agreed to purchase a 16-building portfolio from Greenville Hospital System of Greenville, S.C., including approximately 855,000 square feet of medical office and related space, for $161.7 million. The hospital system is among the largest healthcare service providers in the state and will� continue to occupy 83 percent of the portfolio, most of which is on or adjacent to its hospital campuses, under a long-term lease agreement arrangement.

Brown Mackie College Leases 50,000 SF at Miami Herald Building

Wed, 28 Oct 2009 13:04:59 UTC

Brown Mackie College, a subsidiary of Education Management Corp., signed a 50,000-square-foot lease at One Herald Plaza in Miami, Fla.

$325M Florida Mixed-Use Gets OK

Wed, 28 Oct 2009 13:04:59 UTC

CDS International Holdings Inc. has received approvals for its Atlantic Plaza II, a planned $325 million mixed-use community that will transform two city blocks in Delray Beach, Fla.

Orinda, Octagon Eye Strong Area Fundamentals for Atlanta Conversion Project

Wed, 28 Oct 2009 13:04:59 UTC

The nationwide downturn in employment is chipping away at demand in the apartment market, but there are still those communities here and there where the call for more rental accommodations remains relatively strong. To that end, Orinda Corp. and Octagon Capital Partners, having found just such a community, have acquired a 350,000-square-foot office building in a college-laden district of Atlanta for a $35 million apartment conversion project.

AECOM Signs 51,300-SF Lease at Atlanta's One Midtown Plaza

Wed, 28 Oct 2009 13:04:59 UTC

AECOM has signed a 11-year lease for 51,337 square feet of office space at Atlanta�s One Midtown Plaza.

Blanca's New Firm Gets Off to Fast Start with 1450 Brickell Assignment

Wed, 28 Oct 2009 13:04:59 UTC

Miami commercial property veteran Tere Blanca�s new services firm looks to be coming out of the gate quickly, despite the industry�s current slump. Just weeks after she launched Blanca Commercial Real Estate, the company landed the exclusive leasing duties for 1450 Brickell, a Class A office tower currently under construction in Miami�s Brickell financial district.

Nemours Breaks Ground on $400M Children's Hospital in Orlando

Wed, 28 Oct 2009 13:04:59 UTC

Nemours, children�s health system, broke ground on the Nemours Children�s Hospital in Lake Nona�s medical city in Orlando, Fla.