NNN Lease Market News
South Florida's Retail Vacancy Decreases to 6.6% The South Florida retail market experienced a slight improvement in market conditions in the first quarter 2011.
A total of 11 retail buildings with 201,170 square feet of retail space were delivered to the market in the quarter, with 187,137 square feet still under construction at the end of the quarter.
http://www.costar.com/News/Article/Market
A former Office Depot call center in Boca Raton Florida has been sold at a 49 percent discount off of the value of the mortgage held by a commercial mortgage-backed securities fund that foreclosed on it. According to the South Florida Business Journal, the CMBS fund seized the 137,066-square-foot building, at 750 Park of Commerce Drive, after the previous owner, Cambridge Assets II, defaulted on its $13.6 million mortgage.
http://therealdeal/.
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