News about properties and real estate
Wal-Mart construction sends land prices soaring Since construction of a Wal-Mart Supercenter began across the street, Debbie Leahy has been bombarded with offers to buy her home. For-sale signs dot her neighbors’ lots and line the rural highway. And she can’t go into town without being asked, “Have you sold yet?” or told the latest …
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Deal to tear down Hyatt has been called off [South Florida] A deal to tear down the 297-room Hyatt Sarasota and its connected conference space is dead, a victim of the less-than-crying need for more luxury high-rise condominiums in Southwest Florida. While it might feel like a canceled $65 million check to the hotel’s owners, …
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Shopping centers are now going up — and up [South Florida] Some of South Florida’s strip shopping centers are prime candidates for vertical, mixed-use remakes. But some developers want to wait out the slowdown in the condo market. Take a good look at the giant asphalt parking lots in front of South Florida’s strip shopping …
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Forced-out tenants could see more money Ann Silver’s landlord must pay her $500 to move out of the apartment she’s lived in for nearly 16 years — an apartment that’s about to become a condo. But if her landlord knocked down the building and built a new condominium tower, rather than converting the apartments, Silver …
‘Conversion, reversion’ As the market skyrocketed, area apartment complexes thought they could cash-in by converting the units into condos. After stale sales and little interest, many are reverting back to rental communities. Now come the reversions. In the past year, investors have flooded the market with apartments turned condo. While sales are moving slowly at …
More South Florida investors are upgrading existing buildings The 951 Yamato building in Boca Raton used to be spillover office space for IBM. It was big and gray and drab — “a battleship,” one real estate broker said. After the computer giant closed its sprawling Boca headquarters and slashed its local work force in the …
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