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MarketQwest Tampa Bay

Week of January 7th
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MarketQwest Tampa Bay – Week of January 7th

Posted by Eli Dioso on January 7, 2019
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LandQwest Commercial presents the latest Commercial Real Estate news across Tampa Bay for the week of January 7, 2019.

 


Sales Are ‘Booming’ At Fractured Channel District Condo The Place, Where Canadian Investors Are Selling Off Their Bulk Units

“In 2008, Armco Capital paid roughly $128,000 per unit for 171 condos in The Place and operated them as rental units until late 2018, when it announced it would begin selling the units to individual buyers. Since the campaign began in early October, the listing agent on the units says it has secured 35 contracts on the units, or about 20 percent of the available inventory.

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Kmart In Ellenton, Sears In Port Charlotte Among 80 More Stores Closing

“The local Kmart store affected is at 6126 U.S. 301 in the shopping center just east of the Ellenton Premium Outlets mall. The Sears store in Port Charlotte is at 1441 Tamiami Trail in the Port Charlotte Town Center. The company said it told the affected employees about the closing on Thursday. The stores in the latest round of closings will be shuttered in late March, the company said, with liquidation sales expected to start in two weeks.

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Accardis Acquire Another Prime Block In Downtown Tampa

“Twin brothers John and Jason Accardi say they have acquired the surface parking lot at 801 N. Ashley Drive, between the Element apartment tower and William F. Poe Parking Garage. The Accardis own and operate Seven One Seven Parking Services Inc., a national parking and valet company.

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Since The Rays Are Home For Good, Rays To Renovate Tropicana Field To Reduce Seating Capacity

“The Tampa Bay Rays said Friday that they are planning a series of capital improvements and renovations for Tropicana Field. The biggest change will be the reconfiguration of the ballpark’s seating, which will reduce capacity to 25,000 to 26,000 seats. The current capacity is around 31,000 seats for baseball games.

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New Five-Story Hotel With Restaurant Proposed In Lakewood Ranch Town Center

“Floridays Development Co. has filed plans with the Southwest Florida Water Management District for a 118-room, five-story hotel and 7,000-square-foot restaurant near the intersection of Resource Way and Exchange Way, with frontage along Interstate 75.

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Fruitville Road Property Sold For Car Wash

A restaurant property on Fruitville Road has been sold for $1.07 million to a franchisee of car washes. The 1.4-acre site, 5020 Fruitville Road, just west of the Honore Avenue intersection, was acquired last month, court records show, by TX Sarasota Fruitville LLC, a company that is tied to the group that opened a Tommy’s Express Car Wash in Sarasota in October.”

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$4.4 Billion Bid could Keep Sears Afloat

“A $4.4 billion last-minute bid from a hedge fund run by Sears Chairman Eddie Lampert could keep the retailer afloat and keep about 425 stores open, the Associated Press reported. The bid, made by Transform Holdco LLC, a division of ESL Investments, includes $1.3 billion in financing. Sears and its advisers must agree that it is a “qualified” bid, per USA Today.  “

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