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

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....
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Eyeing Market Opportunities, M-F Developer Expands into Acquisitions

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....
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Eola Capital Snags Interests in 7.6MSF Office Portfolio

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. ...
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Highwoods, USAA Partner to Build FBI Office

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. ...
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Post Sells Atlanta, Fairfax Properties for $100 Million

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. ...
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