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News
Terranova Executive Vice President, Mindy McIlroy, is Miami Today's "Newsmaker"
09/26/2011
General

Mindy McIlroy began her journey in real estate at Terranova Corp. 15 years ago as administrative assistant to its leader, Stephen Bittel.

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Reports
Palm Beach County Retail Report 2011
11/18/2011
Market research

Palm Beach County shopping centers exhibit a double-digit vacancy rate in 2011, but minor improvement in occupancy is holding asking rents steadier than in the preceding two years.

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Press Releases
TERRANOVA CORP. CLOSES $25.45 MILLION SALE OF PARKHILL PLAZA CENTER
09/30/2011
General

MIAMI BEACH, FL – Sept. 27, 2011 – Terranova is pleased to announce the sale of Winn Dixie-anchored Parkhill Plaza Shopping Center, resulting in a $19.4 million profit for the seller, Flagler Retail Associates Ltd., an affiliate of Terranova.

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COMMERCIAL REAL ESTATE NEWS

Miami Herald Inks 158,000-SF Lease, Buys Land

MIAMI-Bilzin Sumber partner Al Dotson tells GlobeSt.com's Jennifer LeClaire the Herald was under pressure to get a deal done quickly.

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Jan. 22-28)

This week's People of Note includes the following markets: Dallas, Denver, National, New York City, Orange County, San Francisco and Washington, DC. DALLAS, NATIONAL Behringer Harvard Appoints New President, CEO of REITs By Laurie Forbes Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Jan. 22-28)

This week's People of Note includes the following markets: Dallas, Denver, National, New York City, Orange County, San Francisco and Washington, DC. DALLAS, NATIONAL Behringer Harvard Appoints New President, CEO of REITs By Laurie Forbes Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place

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COMMERCIAL REAL ESTATE NEWS

Marriott Delivers Late Editions

Marriott has been trying—and failing—for more than four years to build a brand of hip hotels. Now, it finally may be breathing some life into the Edition brand, its competitor to the stylish W chain.

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COMMERCIAL REAL ESTATE NEWS

Cresa Orlando Reports Full-Swing Office Recovery Underway

ORLANDO-It's becoming increasingly difficult to find blocks of space spanning 15,000 square feet or more in Orlando's CBD.

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COMMERCIAL REAL ESTATE NEWS

7-Eleven Expands in its Home Territory

7-Eleven Inc. completed acquiring the retail interests in 51 Texas sites from ExxonMobil. The 51 sites, all of which are in the greater Dallas/Fort Worth area, include two unused parcels of land. The majority of locations will be rebranded as 7-Eleven stores. The stations will retain the Exxon gasoline brand. "This acquisition fits well with our aggressive growth strategy," said Robbie Radant, 7-Eleven's new vice president of mergers and acquisitions...

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COMMERCIAL REAL ESTATE NEWS

Miami Herald Finalizes 158,000-SF Lease in Doral

The Miami Herald Media Company has agreed to terms to relocate to a 158,265-square-foot office building in Doral, FL. The building, at 3511 NW 91st Ave. in Miami, will be renamed One Herald Plaza at Westpointe Business Park. The company has also acquired an adjacent six-acre pad site to house its 119,000-square-foot production building. CoStar first brought you coverage of the sale of Miami Herald's former waterfront office location to Genting...

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COMMERCIAL REAL ESTATE NEWS

Lehman's Estate Gets Montana Resort

The estate of Lehman Brothers Holdings Inc. is now the owner of a Montana ski and golf resort, after assuming control of the assets of Moonlight Basin Ranch LP.

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COMMERCIAL REAL ESTATE NEWS

Transwestern Inks 40,000 SF of Lease Renewals at Miami Tower

MIAMI-In a Miami CBD that's posting an market average occupancy rate of 77.1%, Miami Tower is beating the odds by rising above 90%.

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COMMERCIAL REAL ESTATE NEWS

Kimco Realty Buys 2 Shopping Centers for $17.4M

Kimco Realty Corp. acquired Woodbridge Shopping Center in Sugar Land, TX and Bell Camino in Sun City, AZ, for an aggregate price of $17.4 million. Woodbridge is 96,623 square feet and its anchor tenant, Kroger, is on a long-term ground lease. At the time of the sale the center was 96 percent leased. Bell Camino is a 63,000-square-foot retail center that was 95 percent leased at the time of the sale. James Bell of Marcus & Millichap represented...

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COMMERCIAL REAL ESTATE NEWS

LAST CALL! Deadline Is Next Week for CoStar Power Broker Awards

This is it! Don't miss out on this opportunity to have your 2011 professional accomplishments recognized by making sure you get credit for the leases and sales you closed in 2011 and you may qualify for the CoStar Power Broker Awards! The deadline to submit your transactions is next Wednesday, February 1, 2012. As the leading industry award recognizing the "best of the best" in commercial real estate brokerage, the CoStar Power Broker Awards...

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COMMERCIAL REAL ESTATE NEWS

Lehman to Block Zell's Archstone Deal

The estate of Lehman Brothers Holdings Inc. is planning this week to use $1.33 billion in cash to buy a 26.5% stake in apartment giant Archstone.

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COMMERCIAL REAL ESTATE NEWS

Lender Taking Possession of Downtown Miami Condo Project

MIAMI-Even as new condo projects get underway in Downtown Miami, the remnants of a few failed projects remain as a testimony to the bust.

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COMMERCIAL REAL ESTATE NEWS

In The Pipeline: CoStar Development & Construction News for Jan. 22-28

In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Follow me on Twitter for live news updates. CA Firm Named Hudson...

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COMMERCIAL REAL ESTATE NEWS

Avnet Inks 100,000-SF Renewal in Doral

Avnet, Inc. has signed a 103,131-square-foot renewal deal at Beacon at 97th, located at 2100 NW 97th Ave. in Doral, FL. One of the world's largest franchised distributors of electronic components and subsystems, Avnet will continue to utilize the space for its distribution center to Latin America. The property offers growth opportunities, which the company may need after acquiring Tallard Technologies and BellMicro along with consolidating and...

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COMMERCIAL REAL ESTATE NEWS

Brookfield Cancels Deal for Atlantis Resort

Brookfield Asset Management canceled a deal to take control of the huge Atlantis resort in the Bahamas and two other resorts from Kerzner after other creditors obtained a court ruling delaying the deal.

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COMMERCIAL REAL ESTATE NEWS

Affluent Palm Beach Retail Center Trades for $31M

PALM BEACH, FL-CBRE's Casey Rosen tells GlobeSt.com's Jennifer LeClaire the deal represents what value-oriented investors are looking for.

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Jan. 15-21)

This week's People of Note includes the following markets: Boston, Houston, New York City and Sacramento. HOUSTON Avison Young Recruits Jeane as Principal By Laurie Forbes Office market leader Lee Jeane joined Avison Young's Houston team. As a principal, he will spearhead the launch of AY’s agency leasing and management platform in the region. His focus will be investors looking to purchase and operate office properties in Houston and throu

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COMMERCIAL REAL ESTATE NEWS

WGCompass Names New CFO

WGCompass Realty Partners LLC named Caite Corripio, CPA as chief financial officer in its West Palm Beach office. Starting as a controller with WGCompass in 2010, Corripio has taken charge of property accounting, corporate finance, human resources, and information technology. Corripio is a certified public accountant licensed in Florida and Pennsylvania. Corripio graduated from Penn State University with a degree in management and an undergraduate...

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COMMERCIAL REAL ESTATE NEWS

Calpers Downsizes Housing Portfolio

Calpers, the giant California pension fund, is dumping one of its last major housing investments at a big loss.

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COMMERCIAL REAL ESTATE NEWS

Butters Hands Off Four-Building Industrial Package to IIT

FORT LAUDERDALE, FL-The portfolio included single-tenant and multi-tenant assets across warehouse, flex and cold-storage distribution.

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COMMERCIAL REAL ESTATE NEWS

CFO of Regency Centers To Retire, Names Successor

After three decades of leadership, Bruce Johnson (pictured, far left) will retire from Regency Centers Corp. (NYSE: REG) at the end of the year. Johnson is an executive vice president at the Jacksonville, FL-based retail development firm and has served as its chief financial officer since 1993. “He is an integral part of Regency’s heritage and epitomizes the attributes that make our people so special. I am extremely grateful to Bruce for his leadership...

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COMMERCIAL REAL ESTATE NEWS

Behringer Harvard Appoints New President, CEO of REITs

Behringer Harvard hired Michael J. O'Hanlon as an executive vice president of the firm and as CEO and president of Behringer Harvard Opportunity REITs I and II. He took the place of Robert S. (Bob) Aisner who was tapped as vice chairman of the REITs. O'Hanlon has more than three decades of industry experience with a background in asset management, corporate and loan restructuring and capital markets. He formerly served on the board of BH REIT II...

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COMMERCIAL REAL ESTATE NEWS

Hope Puts Spring in Home Builders' Stocks

The stocks of home builders, shunned by investors for most of the past year, are suddenly in vogue again.

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COMMERCIAL REAL ESTATE NEWS

CBRE Beefs Up Orlando Land Services Group With Disney Vet

ORLANDO-The newly minted CBRE EVP tells GlobeSt.com's Jennifer LeClaire he plans to leverage his global network to find mixed-use opportunities.

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COMMERCIAL REAL ESTATE NEWS

Food Lion Latest To Shrink Store Counts In Grocer Shakeout

Delhaize Group, the Belgium-based parent of Food Lion chain in the U.S., is the latest grocer to shrink its store count. The latest news on store closings follows on the heels of A&P announcing last week that it plans to close 14 more stores following its emergence from bankruptcy and, more recently, another grocery store chain, Sprouts, said it will close three Austin, TX area stores. According to analysts, these store closings won't be the last...

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COMMERCIAL REAL ESTATE NEWS

In The Pipeline: CoStar Development & Construction News for Jan. 22-28

In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Follow me on Twitter for live news updates. CA Firm Named Hudson...

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COMMERCIAL REAL ESTATE NEWS

Casino Debtholders Fight On

A fight has broken out over a deeply discounted planned sale of $150 million in debt backed by a Las Vegas area resort and casino.

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COMMERCIAL REAL ESTATE NEWS

2012 Could Be Multifamily's Best Year

BOCA RATON, FL- The National Multi Housing Council's 2012 Apartment Strategies Conference was held yesterday and homed in on apartment recovery in the new year.

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COMMERCIAL REAL ESTATE NEWS

Desperate for Revenue, More States Expected To Follow Indiana's Lead In Amazon Tax Deal

Brick-and-mortar retailers and their landlords believe they won a key battle with online sellers in the fight for shoppers' dollars, but skirmishes over the right to tax Internet sales are likely to continue in other statehouses across the county, as well as on Capitol Hill. Some believe the whole issue will eventually end up before the U.S. Supreme Court. The state of Indiana, facing a lawsuit by Indianapolis-based mall owner and developer Simon...

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COMMERCIAL REAL ESTATE NEWS

CoStar's People of Note (Jan. 15-21)

This week's People of Note includes the following markets: Boston, Houston, New York City and Sacramento. HOUSTON Avison Young Recruits Jeane as Principal By Laurie Forbes Office market leader Lee Jeane joined Avison Young's Houston team. As a principal, he will spearhead the launch of AY’s agency leasing and management platform in the region. His focus will be investors looking to purchase and operate office properties in Houston and throu

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COMMERCIAL REAL ESTATE NEWS

A Times Square Tune-Up

Sometimes, the renovation costs almost as much as the purchase itself.

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COMMERCIAL REAL ESTATE NEWS

Office Sale Reflects Growing Interest in Brevard County

MELBOURNE, FL-Colliers' Susan Morris tells GlobeSt.com's Jennifer LeClaire she sees growing potential on the Space Coast.

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COMMERCIAL REAL ESTATE NEWS

Spirit Bascom Ventures Formed for Multifamily Acquisitions

New York-based Spirit Investment Partners LLC has joined California-based The Bascom Group LLC in the formation of a new joint venture to focus primarily on value-add multifamily acquisitions in the eastern half of the United States. Sprint Bascom Ventures LLC will combine Sprint's existing multifamily platform with Bascom's 16 years of operational experience and an existing portfolio of nearly 26,000 units. With Bascom as a capital partner, Sprint...

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COMMERCIAL REAL ESTATE NEWS

China Construction Starts Slowed in 2011

Growth in new construction starts in China last year decelerated sharply compared with a year earlier, data showed. Meanwhile, Shanghai set new price limits for private ordinary homes.

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COMMERCIAL REAL ESTATE NEWS

Centerline Infuses $2M into Tallahassee Student Housing

TALLAHASSE, FL-The student housing refis were attractive because leases have 12-month terms and property management rents on a per bed basis.

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COMMERCIAL REAL ESTATE NEWS

CRE Price Index Rises for Seventh Consecutive Month

The CoStar National Composite Index of commercial real estate pricing rose for the seventh straight month since last spring as investment-grade sales made solid pricing gains in November 2011, and the level of distressed sale transactions continued to decline during the month. The composite index rose 0.6% in November from the previous month, with prices now an average 1.8% higher compared to the same period a year ago, according to this month...

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COMMERCIAL REAL ESTATE NEWS

Beijing to Continue Property Curbs

The Beijing municipal government will continue home-purchase restrictions this year to curb speculation and reduce prices, the city's mayor said.

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