New Haven Office Market Expected to Decelerate This Year

NEW HAVEN, CT— The New Haven office market, which consists of Fairfield and New Haven counties, has successfully drawn tenants from nearby New York City, but office properties in the region will operate in a less hospitable climate in 2008, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Additional upward pressure on vacancy could arise if a significant downsizing in the counties’ large financial activities sector occurs.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. New Haven moves down six places this year to No. 43.

“Local properties have remained popular with investors, although some price adjustments may occur in the months ahead,” says Edward Jordan, (photo at left) regional manager of Marcus & Millichap’s New Haven office.

Following are some of the most significant aspects of the New Haven Office Research Report:

· Total employment in New Haven and Fairfield counties is expected to rise 0.6 percent this year, or by 5,300 workers.
· In 2008, 650,000 square feet of new for-lease space is scheduled for delivery.
· Vacancy is forecast to end the year at 14.9 percent.
· Asking rents are expected to rise 2.6 percent to $31.03 per square foot, while effective rents will gain 2.3 percent to $27.17 per square foot.
· Investors put off by relatively higher property prices in Fairfield County may find solid value in Class B/C properties along the Interstate 91 corridor in New Haven County.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit http://www.marcusmillichap.com/.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Downtown St. Louis Office Market Poised for Gradual Turnaround

ST. LOUIS, MO— Slower employment growth and increased speculative office development will cause a mild uptick in the St. Louis vacancy rate this year, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm. Occupancy in downtown St. Louis is forecast to improve in 2008, a trend that should continue in the future.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. St. Louis makes its debut on the NOI at No. 37.

“Near-term fluctuations aside, St. Louis’ positive extended outlook will sustain investor demand in 2008, though overall sales activity may moderate somewhat,” says Jeffrey R. Algatt, (photo at right) regional manager of Marcus & Millichap’s St. Louis office.

Following are some of the most significant aspects of the St. Louis Office Research Report:

· Employers will create 11,600 jobs this year, a 0.8 percent gain.
· Developers will bring 640,000 square feet of office space to the market, representing a 1.4 percent addition to inventory.
· Vacancy is forecast to end the year at 14.9 percent.
· Asking rents are expected to reach $20.45 per square foot, a gain of 2.5 percent, while effective rents will advance 2.1 percent to $16.82 per square foot.
· Investors seeking upside potential will continue to target properties in the Clayton submarket.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit www.MarcusMillichap.com.


CONTACT:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Teranova Signs First South Florida Publix Apron's Cooking School at Polo Club Shoppes in Boca Raton, FL

MIAMI BEACH, FL– Terranova is proud to announce the signing of the first Publix Apron’s Cooking School in South Florida as a tenant at Polo Club Shoppes, located at 5050 Champion Blvd., Boca Raton, FL.

Terranova Associate, Eric Sadkin represented the landlord in the 5-year lease. Apron’s is taking 2,047 square feet of retail space with plans to open their doors 3rd quarter 2008.

Apron’s will offer shoppers a chance to take cooking classes, learn from celebrity chefs and hone culinary skills within the walls of a new state-of-the-art store. This concept is the fourth in the state and fifth in the nation. For more information, visit their website at http://www.publix.com/aprons/about/ApronsCookingSchool.do.

Polo Club Shoppes, a 124,854 square foot shopping center, is a community center with tenants such as Walgreens, SunTrust Bank, TooJay’s Deli, The UPS Store and Subway. Polo Club Shoppes is located on the border between exclusive country clubs and one of the major business districts of central Boca Raton with almost 80,000 employees within 3 miles. Office Depot is currently constructing their global headquarters opposite the Polo Club Shoppes on the southeast corner of Military Trail and Clint Moore Rd.

In addition to Apron’s Cooking School, Terranova has signed seven leases at Polo Club Shoppes since June 2007 making the center a local favorite. Among these tenants are Boca Coffee Exchange, DMK Optical, Boca Tanning Club, Artcetera, Dr. Marianna Zadov, DMD, PA, Atlas Travel Agency and D.D. Flats Restaurant. Leasing efforts are being continued to bring the highest quality of tenants to the center.

Terranova Corporation, South Florida’s leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and it’s own portfolio valued over $1.5 billion. The company offers complete commercial real estate services, including asset and property management, leasing, tenant representation, acquisitions dispositions, financing, construction management and development services.

Thomas D. Wood & Co. Brokers $3.43M Construction Loan in Port St. Lucie, FL

ORLANDO, FL—March 24, 2008—Doug Rozzell, (photo at left) Principal for Thomas D. Wood and Company, secured construction financing in the amount of $3,435,000 for the Social Security Administration Building in Port St. Lucie, Florida. (top right photo)

Rozzell financed the 18-month, interest-only construction loan through a regional banking institution at LIBOR + 250 basis points and 99% loan-to-cost, based upon a forward commitment from GE Business Properties. The 18,500 square-foot office building will be constructed on 2.3 acres on US Highway 1 in Port St. Lucie, Florida.

For further information, please contact:
Doug Rozzell

(407) 937-0470

drozzell@tdwood.com

Jessica Gurtowski

(407) 937-0470

jgurtowski@tdwood.com

Terra Group Hosts Preview Event for Quantum on the Bay

MIAMI, FL -Terra Group hosted an exclusive preview celebration on March 12 for one of its latest condominium developments,Quantum on the Bay (photo at left), a two-tower residential development with views of Biscayne Bay, in the heart of the Miami Arts District.

Over 400 guests comprised of VIP's, top realtors and Quantum on the Bay homeowners attended the lavish event held on-site.

"We are very proud of this project," stated Pedro Martin, (photo at left) CEO of Terra Group. "Quantum on the Bay's unique features and amenities really make this property extraordinary and will provide its residents the ultimate in style and comfort."

The 698-unit tower was developed with extraordinary vision by a talented group of architects from Nichols, Brosch, Wurst and Wolf and designers from the Interiors Group, to combine retail, office and residential space with the appeal of urban living.

Founded in 2001, Miami-based Terra Group is a real estate development firm that focuses on creating environments that enhance people's lives.

MEDIA CONTACT:

Rosalynn Salinas /

Account Executive

república / brand. advertise. communicate.

2801 sw 31 ave / second floor /

miami fl 33133

t 305 442 0977 /

f 305 443 1631 /

rsalinas@republica.net

http://www.republica.net/

Marcus & Millichap Lists Two Apartment Properties in Lakeland, FL for $13.9M

LAKELAND, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Windover Apartments (photo at right) and Crosswinds Apartments, two multi-family properties totaling 240 units in Lakeland. The listing price is $13.9 million.


Elizabeth Calleja, an investment specialist in Marcus & Millichap’s Tampa office, and Robert Goldfinger, a vice president of investments and director of the firm’s National Multi Housing Group in Tampa, are representing the seller.

“The Windover and Crosswinds apartment properties represent an excellent opportunity for an investor to acquire two, all concrete block, garden-style multi-family communities with great rental upside potential in the greater Tampa Bay area,” says Calleja.

Windover Apartments, located at 1108 S. Bartow Road, features 10 two-story buildings, totaling 120 units, on a 6.66-acre lot. Amenities include a swimming pool, clubhouse, barbeque, fitness center, laundry facility and car wash station.

Crosswinds Apartments, located at 3215 Baird Ave., features 21 two-story buildings, totaling 120 units, on a 7.1-acre lot. Amenities include a clubhouse with a big-screen TV, on-site laundry center, a swimming pool with barbeque and lighted tennis and racquetball courts.

Both properties are just a short drive from one another and boast excellent access to Interstate 4 and State Route 98. Windover and Crosswinds apartments feature one- and two-bedroom units and have undergone recent renovations, including upgrades to the roof, windows, sliding doors and kitchens.

CONTACT:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Marcus & Millichap Lists 47,149-SF Office Building in Palmdale, CA for $11M

PALMDALE, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 47,149-square foot multi-tenant office building in Palmdale, CA. (photo top right)


The listing price of $11 million represents $233 per square foot.

Stephen D. Stein, a vice president of investments in the Los Angeles office of Marcus & Millichap, is representing the seller, Vertigo Real Estate Holdings LP.

“This Palmdale office building represents a tremendous opportunity for an investor to acquire a lucrative and attractive multi-tenant professional and medical office building with upside development potential,” says Stein.

Located at 1529 East Palmdale Blvd., the three-story office building is situated on a 4.09-acre lot along a major east/west commercial corridor. Tenants include Advanced Imaging Center, Antelope Valley Color, Antelope Valley Realty, County of Los Angeles and OTC Medical Management.



Antelope Valley College (photo at left) has requested to expand into an additional 4,700 square feet of the building. Also, plans are in place for a 6,895-square foot retail/restaurant pad on the hard corner as well as a potential 22,900-square foot additional office building towards the rear of the property.

CONTACT:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

International Hotel Conference Sets Oct. 15-17 for Sixth Annual Event

Expects Record Attendance at Cavalieri Hilton in Rome; Seeks Nominations for “International Hotelier Global Citizen” Award

CHICAGO, Ill., USA/ROME—Officials of the International Hotel Conference are anticipating a record turnout for the Sixth Annual International Hotel Conference, to be held 15-17 October, 2008 at the Cavalieri Hilton (top center photo) in Rome, Italy.

Approximately 550 hotel industry executives from more than 50 countries are expected to attend the event, which will feature 100 key hotel industry speakers.

Among the highlights of the conference will be the presentation of the second annual “International Hotelier Global Citizen” Award. The award honors an international hotelier for his/her leadership in the hospitality industry, as well as humanitarian contributions to society, who is selected by an industry-wide vote of hoteliers.

Last year’s inaugural award went to Hans W.R. Kennedie, president and CEO of the Golden Tulip Hospitality Group.

“The global hotel industry has enjoyed a strong, multi-year period of positive returns,” said Mary Lou Koys and Morris E. Lasky, (photo at left) conference co-chairpersons.

“The challenge in 2008 is to find ways to continue that robust uptrend in the face of more turbulent financial markets and a more uncertain economic outlook," says Lasky. "Growing numbers of hoteliers are looking at multiple global markets to capitalize on opportunities there.

" One of the keys to successful international expansion is establishing strong ties to local business communities. This conference gives participants an opportunity to tap into new resources, expand their contacts and network on a global basis.”

Lasky noted that the “International Hotelier Global Citizen” Award will be presented during the first general session on October 16. The honoree will be selected by an industry-wide vote. The award includes a grant of €5,000, which will be donated to the charity of the honoree’s choice.

Anyone involved in the hotel industry worldwide may submit a nomination of any hotelier of their choice by sending an e-mail to mlasky@aol.com. The nomination must include the person’s basic information and a brief statement about the reason he or she should be selected, based on his/her leadership in the international hotel industry and humanitarian contributions to society. Nominations will be open until June 15, 2008.

The International Hotel Conference is the premier annual gathering of senior level hospitality executives, including owners, operators, brands, leading institutions, bankers, architects/designers, attorneys, brokers and other members of the hotel and related communities.

Additional information about the event, registration, sponsorships and related activities can be found at the event’s Web site http://www.internationalhotelconference.com/, or by contacting the conference organizer, Morris Lasky at mlasky@aol.com.

Media Contact:

Julie Tullbane
Daly Gray Public Relations
T 703-435-6293
F 703-435-6297
julie@dalygray.com

Marcus & Millichap Promotes Bennett to Associate Vice President of Chicago Downtown Office

CHICAGO, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, today announced the promotion of W. Michael Bennett (top right photo) to associate vice president of investments in the Chicago Downtown office, according to regional manager John Przybyla.

“Michael has extensive experience as an investment sales specialist in the Chicago office, with a focus on multi-tenant retail transactions,” explains Przybyla. “Throughout his career with Marcus & Millichap, Michael has matched numerous private and institutional investors with investment real estate in the Chicago metropolitan area and throughout the Midwest. Michael has been instrumental in driving our business forward and developing new business leads.”

Bennett joined the firm in April 2003 and was quickly promoted less than a year later to associate. In 2006, he was promoted to senior associate. Last year, Bennett was named the top multi-tenant retail sales agent in the Chicago Downtown office, earning a spot as one of the top 35 multi-tenant agents in the nation.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710

http://www.marcusmillichap.com/

scorso@marcusmillichap.com

Marcus & Millichap Names Payton Banks Sales Manager of Washington, DC Office

WASHINGTON, D.C. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Payton Banks (top right photo) sales manager of the Washington, D.C., office, according to Harvey E. Green, president and chief executive officer of Marcus & Millichap.

“Payton’s background and success as an investment sales agent have prepared him to lead the Washington, D.C. office as its new sales manager,” says Ramon Kochavi, regional manager of the firm’s Washington, D.C., office. “His strong management skills, combined with an in-depth knowledge of the local and Mid-Atlantic commercial real estate markets, make Payton an indispensable asset to our clients and Washington, D.C. agents.”

Banks joined the Washington, D.C., office in August 2002 and reached associate status in June 2004. He specialized in multi-family investment sales and was a member of the firm’s National Multi Housing Group. Banks was promoted to senior associate in 2005. Banks attended George Mason University, majoring in economics.

CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597

scorso@marcusmillichap.com

Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Hillsborough County Tax Collector Leases 12,330SF at Pinebrook Commerce Center III

TAMPA, FL-- The Dikman Company, Inc announces that Hillsborough County Tax Collector, Doug Belden has leased 12,330 SF at the Pinebrooke Commerce Center III, located at 2211 North Falkenburg Road, Tampa, Florida. The Dikman Company represented the Lessor.

Contact:

Bob Dikman
1315 S. Howard Ave., Suite 202
Tampa, FL 33606
813-251-5288
813-251-2093 (fax)
http://www.dikman.com/

CB Richard Ellis Awarded Exclusive Listing and Property Management Agreement for Posner Commons

ORLANDO, FL - CB Richard Ellis, leader in commercial real estate services worldwide, is pleased to announce the exclusive listing and property management agreement for Posner Commons, (rendering above) which is being developed by Trammell Crow Company's Atlanta office, headed by Larry Pantlin, in joint venture with Land Development and MetLife.

Jorge Rodriguez, CCIM and Associate with CB Richard Ellis, is the listing agent and Barbara Halgren, Real Estate Manager, is the property manager.

Posner Commons is a 630,000 square foot development at the Southeast corner of Interstate 4 and US Highway 27 in Polk County, is owned by Trammell Crow Company, MetLife, and the Posner Family. Rodriguez is very positive about this new development and the opportunities it brings to Polk County.

"Posner is one of the largest projects in central Florida to be delivered mid-2008. It has a captive audience in the Four Corners/Polk County trade area with limited competition within a 15-mile regional trade area," says Rodriguez. "Polk County is projected to be one of the fastest growing counties in Florida over the next 20 years."

This 368-acre development is the perfect place for America's largest retailers as well as junior anchors, small shops, and outpads. The park is currently 80% leased with available spaces starting at 1,400 square feet. Target opened on March 4th, (photo at left above) with a series of large retailers soon to follow. Belk opened its doors on March 12th (photo at right) and Books-A-Million on March 14th. Best Buy and Staples are tentatively set to open in early to mid-April. Some of the other great tenants include JCPenney, PetSmart, Dick's Sporting Goods, Michael's, and Ross.

Larry LoCascio, Director of Asset Services at CB Richard Ellis, says, "It's a huge win for Asset Service Retail leasing and management. This win solidifies the CBRE name brand and strength as the premier Retail real estate services provider in Orlando as well as in the State of Florida. We are very excited about the opportunity."

CONTACTS:
Jessica Wilhoite
407.839.3158
jessica.wilhoite@cbre.com

Jorge Rodriguez
407.404.5014
jorge.rodriguez@cbre.com

CBRE Announces 147,197-SF Industrial Lease at Madison Business Center in Tampa

New Tenants and Construction Challenge Recession Claims

TAMPA, FL-- CB Richard Ellis (CBRE) is pleased to have represented IDI in their lease of 147,197 square feet to American Tire Distributors, at Madison Business Center, Building E. (photo top right)

Rick Narkiewicz, (photo below at left) First Vice President and industrial real estate broker with CBRE, negotiated the lease on behalf of the landlord. Texas-based, tenant representation firm Jackson & Cooksey Inc. represented the tenant. American Tire Distributors is scheduled to occupy this summer and will be tripling its capacity in Tampa at the state-of the-art facilities of Madison Business Center.

Madison Business Center, IDI's first business park in the Tampa market, has been built to higher standards than past generations of industrial product. The building has a minimum of 28' clear height for increased warehouse clearance, deeper truck courts and wider column spacing. These features, paired with the ESFR fire suppression system, should reduce American Tire's operating costs, give greater cubic capacity and are likely to lower insurance premiums.

"This new generation of distribution facilities is enabling companies to increase their cubic capacity while reducing their amount of rental square feet. I am seeing more companies wanting the 28' and 30' clear warehouse so they can reduce operating costs," remarks Narkiewicz.

The American Tire expansion, among others, has lead Narkiewicz to question recent claims of a recession, "Over the past two quarters, Tampa has experienced a significant amount of leasing activity from prominent national-credit tenants at record high lease rates. From my perspective this demonstrates that many larger companies understand the importance of servicing the Tampa Bay area and are taking the necessary steps to grow their market share. "

Narkiewicz also talks about the strong foundation of Tampa's industrial market where the vacancy rate is near a historic low of below 5 percent. "Demand for quality facilities is steady, rental rates have reached records highs and rental concessions are minimal," says Narkiewicz. "At Madison Business Center, prospective tenants are already talking to us about our next buildings, with several large build-to-suit tenants seriously considering the location."

Commenting on recent speculative developments in the industrial market, Narkiewicz says, "[It] has filled a serious void and will help bring the market towards equilibrium. Additionally, having multiple relocation options available will attract companies and new jobs to the Tampa Bay area."

About IDI
(http://cbremarketing.com/ve/ZZN702863C6128P88nb2/stype=click/OID=108317172942335/VT=0) is a national, full-service industrial real estate developer based in Atlanta, providing strategically located properties throughout the U.S. to meet its tenants' distribution, warehouse and light-manufacturing needs. To date, IDI has developed 115 million square feet of industrial space valued at $5.6 billion. IDI has development offices in Atlanta, Cincinnati, Chicago, Dallas, Fort Lauderdale, Los Angeles, Memphis and Philadelphia.

Also, IDI Services Group (http://cbremarketing.com/ve/ZZN702863C6128P88nb2/stype=click/OID=608317172942619/VT=0/VT=0) provides comprehensive property management, leasing and construction management services, currently managing more than 60 million square feet of property for IDI tenants, including third-party owners such as pension funds and insurance companies.

CONTACTS:

Rick Narkiewicz
813.273.8444
rick.narkiewicz@cbre.com
Lauren Crawford
813.273.8482
lauren.crawford@cbre.com

GVA Advantis Negotiates New 9,116-SF Lease in Laurel Place for Mancuso & Dias, P.A. Headquarters

TAMPA, FL – GVA Advantis is pleased to announce it has negotiated a new 9,116-square foot long-term lease in Laurel Place (photo at right) for Mancuso & Dias, P.A. in Tampa, Hillsborough County, Florida.

GVA Advantis’ Lauren Geller, (photo below at right) associate of office services, and Paula Buffa, (photo below at left) CCIM, senior director of office services, negotiated the transaction on behalf of the property owner, Menkure Pyramid, LLC, an affiliate company of Arcis Investments, Inc. Arcis manages the property and is a provider of complete services and real estate investment opportunities in the southeast United States to select investors (www.ArcisInc.com).

Mancuso & Dias, P.A. is a law firm that focuses on defense cases relating to nursing home and auto claims. Headquartered in Tampa with additional offices in West Palm Beach, FL and Philadelphia, PA, Mancuso and Dias, P.A., was represented by the Staubach Company in the transaction.

““We are very excited to welcome Mancuso & Dias to Laurel Place,” says Geller. “This law firm is a wonderful addition to our tenant roster!” Other well-known tenants who occupy Laurel Place include the United States Postal Service, Hewlett-Packard and McGraw-Hill.

Laurel Place is a 41,228-square foot class A office property located at 5102 West Laurel Street in the Westshore Business District of Tampa. The single-story building is situated at the corner of Laurel and O’Brien Streets, just west of Westshore Boulevard. Located in a Verizon SmartPark, the brick structure features new FIOS wiring, secure card access to the building, a 5:1,000 per square foot parking ratio and mature trees on the property.

GVA Advantis is a full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate properties and sites. The company also provides tenant representation, corporate real estate, construction and project management services.

GVA Advantis employs approximately 400 people, leases and manages more than 30 million square feet of commercial facilities, and had an annual transaction volume of approximately $1.5 billion in 2007. Including its headquarters in Atlanta, the company has 15 regional offices throughout the Southeast and Mid-Atlantic. For more information, visit www.gvaadvantis.com.


CONTACT:
Lisa Hyde
Director of Marketing
Advantis Real Estate Services Company
3000 Bayport Drive, Suite 100
Tampa, Florida 33607
Tel 813.342.4752
Fax 813.342.4004
E-mail Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

Cushman & Wakefield Sees More Apartment Development in 2008

ORLANDO, FL – Apartment development should increase this year and approach historic levels, says an Orlando multi-family expert.

Jay Ballard, (top left photo) senior director at Cushman and Wakefield’s Apartment Brokerage Services division, said new apartment development has averaged 2,750 to 3,000 units per year over the past 24 months.

Historically, Central Florida has averaged annual new apartment deliveries in the 5,000 to 6,000 unit range, Ballard said.

“Robust new home development and historically strong job growth generated an annual absorption of 5,500 to 6,000 units over the last several years,” Ballard said.

Recent research indicates that while multi-family developers have lost some apartment sites to homebuilders, new construction deliveries of multi-family apartments could top 5,000 units in 2008 within sight of Central Florida’s historic averages.

Ballard, added absorption will likely remain steady while land prices have recently begun to plateau.

“Developers are also seeing new ways to finance new apartment projects. The market will prevail despite the challenges of costs, debt and equity financing for new construction”, Ballard explained

For more information, contact:
Jay Ballard, Apartment Brokerage Services, 407-541-4406
Larry Vershel or Beth Payan, LV Communications, 407-644-4142