Humphries said rising mortgage rates and more homes listed for sale will level out the market and reduce the urgency for buyers.
Free office space available in West Palm Beach
Local nonprofit groups and charities can apply for rent-free offices at a new business center in downtown West Palm Beach.
Quest Workspaces is donating the space at its new location at the Northbridge Center, 515 N. Flagler Drive.
Public charities whose funding comes from contributions, private foundations, grants and government sources can fill out a questionnaire available online at questworkspaces.com prior to Dec. 1. Candidates will be chosen by a panel "based on the delivery of the greatest good to the local community."
Building supply firm opens Pompano facilty
Raymond Building Supply Corp., buoyed by the housing recovery, is opening a Pompano Beach distribution center that will serve South Florida.
The company, now based in Deerfield Beach, has signed a lease for 31,105 square feet at Pompano Business Park. The facility will be an expanded showroom for professional builders and retail customers.
Raymond expects to move in by Jan. 1. The CBRE firm represented the tenant and landlord, Invesco.
"We are working with numerous housing/construction-related tenants that are seeing a lot of opportunity in the tri-county market due to the housing rebound," CBRE’s Allen Lindow said in a statement.
Fort Lauderdale apartment complex fetches $9.2 million
Harbour Pointe Villas and Docks, a 34-unit luxury apartment building, sold recently for $9.2 million.
Private investors from Belgium bought Harbour Pointe from an Encino, Calif.-based company. The waterfront complex is in the gated Harbour Inlet neighborhood south of the 17th Street Causeway.
Marcus & Millichap Real Estate Investment Services represented the buyer and seller.
The buyer plans to eliminate tenant concessions and increase rents, according to Marcus & Millichap. Individual units also may be sold as condominiums.
Two Stiles buildings win awards
Lake Shore Plaza II in Sunrise and The AutoNation Building in downtown Fort Lauderdale, two properties managed by the Stiles real estate firm, won awards recently from the Fort Lauderdale/Palm Beach Building Owners and Managers Association.
Lake Shore won The Outstanding Building of the Year award in the 100,000-to 249,999-square-foot category. The AutoNation Building earned an Earth award for its energy conservation and indoor air quality, among other environmental attributes.
The TOBY Awards were held at the Harbor Beach Marriott Resort and Spa in Fort Lauderdale on Nov. 1.
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