Lincoln Tech Buys 2 Campuses in Palm Beach Co.
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Ultra-Modern Construction has begun on Capital at Brickell, a 1 million-square-foot mixed-use project in Miami's high-end Brickell submarket that is scheduled to deliver in 2009.
Naples-based M.K. Developers sold its new construction of 16 residential condominium units at 2222 N. Atlantic Blvd. in Fort Lauderdale.
COCONUT GROVE, FL-Key Realty Advisors plans to acquire and convert the 22-story SBS Tower at 2601 South Bayshore D. into office condominiums. The deal has been fueled by a $61.5-million financing from Wachovia Securities Real Estate Capital Markets.
WEST PALM BEACH, FL-As it nears completion, the 125,630-sf West Palm Commerce Park office/warehouse condo development has reached 70% sold. The project is on Haverhill Road just south of 45th Street.
DELRAY BEACH, FL-Three tenants have signed deals to take 38,347 sf of space at Arbors Office Park. The leases total more than $4.6 million.
Florida-based REMS Group Inc. is preparing to begin sales for its latest project, the 595 Corporate Park of Commerce in Davie, Fla., on May 9. The $60 million, all-condominium business park will feature office, flex and warehouse space. The developer paid $22 million, or $516,000 per acre, for the 42-acre park site in January. Site work for the 523,000-square-foot park will begin in August.
The newest condominium hotel project, the 200-unit St. George Residences and Condo-Hotel, will begin to rise in the late summer. It will be the first new hotel built in Coral Gables in 25 years.
The best-selling book Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt and Stephen J. Dubner argues that REALTOR®-owned homes sell at a higher price than others because they stay on the market longer, and the authors suggest that somehow REALTORS® do a better job of selling their own properties than they do for their customers.
Mortgage rates rose for the sixth consecutive week, with interest on 30-year fixed mortgages averaging 6.59 percent for the week ended May 4, according to Freddie Mac.