Top Stories in Florida Commercial Real Estate

Healthcare Trust buys 53,000sf medical building

Friday, March 12th, 2010

JACKSONVILLE - Healthcare Trust of America Inc., a self-managed, non-traded, real estate investment trust, announced the completed acquisition of a 53,169sf medical office building in Jacksonville for $10,775,000.

King Street Medical Office Building is 100% occupied and is home to the Gary and Nancy Chartrand Heart & Vascular Center. The medical office building sits on the campus of St. Vincent's Medical Center and is connected via skybridge to the hospital and parking structure.

St. Vincent's is a 528-bed medical center on the shore of the St. Johns River in Jacksonville.

REITs to lead 2010 growth in velocity of deals

Thursday, March 11th, 2010

NEW YORK - The velocity of real estate transactions is expected to improve in 2010, with property pricing to stabilize as liquidity returns to the markets and as the capital markets play a role in recapitalizing the industry, according to FTI Schonbraun McCann Group, the real estate advisory practice of FTI Consulting Inc.

Bruce Schonbraun, the group head of real estate of FTI Schonbraun McCann Group, has identified the following real estate industry trends that will characterize this shift toward a recovery in 2010:

New Brennan exec sees opportunity in industrial

Monday, March 8th, 2010

By:

Robert Pitts, Florida Real Estate Journal

TAMPA - A longtime Tampa Bay industrial market executive said he sees his affiliation with a new investment firm as a chance to strike out on his own without the risk of going solo.

Robert Krueger, now a co-founder and managing principal with Brennan Investment Group, said company chairman and Managing Principal Michael Brennan talked him into the venture over a cup of coffee at a Chicago real estate conference.

Florida’s existing home, condo sales rise in January

Wednesday, March 3rd, 2010

ORLANDO - Florida’s existing home sales rose in January, marking 17 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors.

Existing home sales increased 24% last month with a total of 10,465 homes sold statewide compared to 8,444 homes sold in January 2009, according to Florida Realtors. January’s statewide sales of existing condos rose 81% compared to the previous year’s sales figure.

Roger Kennedy Inc. celebrates 140 years

Tuesday, March 2nd, 2010

ORLANDO - Roger B. Kennedy Jr., president of Orlando-based Roger B. Kennedy Inc., announced the Kennedy organization is celebrating 140 years of continuous operation as a family-owned construction business.

CBRE survey indicates SF market in transition

Tuesday, March 2nd, 2010

BOCA RATON - The CBRE South Florida Private Client Group recently conducted a survey of approximately 1,000 owners of shopping centers throughout Southeast Florida. The responses on a wide-range of issues and concerns indicate a market in transition and are summarized below.

Starwood purchases 5,400-lot portfolio

Friday, February 26th, 2010

BRADENTON - Starwood Land Ventures LLC has finalized the purchase of 5,449 residential lots and 36 model homes in Florida from TOUSA, a land developer based in Hollywood, Fla., that filed for bankruptcy in 2008.

After winning a contested auction over two other bidders this January with a bid of $81 million, Starwood Land Ventures, a Bradenton-based real estate investment firm, gained approval for the purchase from a U.S. bankruptcy court late in January.

LoopNet poll anticipates recovery by 2012

Thursday, February 25th, 2010

LoopNet Inc., which operates the largest online commercial real estate marketplace, has announced the results of its just-closed First Quarter 2010 LoopNet Pulse Poll. 1,500 LoopNet members responded to the latest poll.

When will the commercial real estate market recover?

Florida’s existing home, condo sales up in 4Q09

Tuesday, February 23rd, 2010

ORLANDO - Sales of existing single-family homes in Florida rose 44% in fourth quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors.

A total of 43,926 existing homes sold statewide in 4Q 2009; during the same period the year before, a total of 30,610 existing homes sold. It marks the sixth consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.

Report: Single-family starts to rise; commercial to fall

Friday, February 12th, 2010

NEW YORK - McGraw-Hill Construction, part of The McGraw-Hill Companies, has released the 2010 Florida Construction Outlook. According to the report, foreclosure mitigation programs and stronger affordability will encourage the first signs of improvement in Florida's single-family construction since 2005.

The American Recovery and Reinvestment Act is also providing immediate help to the Florida economy and construction industry. A modest recovery of 5% for Florida construction starts is expected in 2010.

Highlights of the report conclude: