Southeast

Daily Business Review The developers of the $120 million Sails hotel-marina project in Fort Lauderdale, Fla., have agreed to reduce the project's size by about 29 percent. The developers, Ron Mastriana and Tom Gonzales, agreed to the reduction in size...

Grubb & Ellis Realty Investors sold 427,368 square feet of office space in suburban Orlando, Fla., for $92.5 million to Flagler Development Group. The properties, both in Maitland, Fla., are the 230,368-sf Maitland Promenade building at 495 Keller Road, which...

News & Observer A partnership that includes Crown West Realty has paid $14.5 million for a 325,000-square-foot distribution center in Durham, N.C. The property was purchased from Medline Industries, a medical-products supplier that is leasing back 172,000 sf of the...

Bradenton Herald Regions Bank is seeking to foreclose on the 58-unit Palms of Riviera Dunes in Palmetto, Fla., claiming its developer had defaulted on $23 million of loans. The Alabama bank also is seeking a court-appointed receiver "to see that...

Miami Herald Related Cos. is teaming up with Orient-Express to build a $150 million hotel in Miami. The property, at 801 South Pointe Drive, will have 100 rooms, as well as 28 condominium units.

Memphis Daily News WSG Memphis LLC, a division of WSG Development Co. of Florida, has submitted a proposal for a 26.27-acre mixed-use development in Memphis, Tenn. The project, which is comprised of 90 individual lots or parcels south of Poplar...

Atlanta Business Chronicle EnTrust Realty Advisors has sold Brookside 100, a 129,400-square-foot office building in suburban Atlanta. The five-story building in Alpharetta, Ga., was sold to ESRI, a California firm, for an undisclosed amount. It is in the Brookside Concourse,...

Tampa Bay Business Journal Asking office rents in Florida's Hillsborough and Pinellas counties stood at $21.37/sf at the end of the last quarter, while the vacancy rate rose to 12.2 percent from 11.8 percent a year earlier, according to data...

Atlanta Journal-Constitution Post Properties has laid off a number of employees this week, a result of the nation's economic downturn. Post president and chief executive David P. Stockert said the employees were "mid-level managers and administrative associates," but did not...

Business First of Louisville The Independent Pilots Association has paid $4.4 million for a 48,000-square-foot office building in Louisville, Ky. The association, which represents pilots that fly for UPS, bought the property, at 3607 Fern Valley Road, from All Star...