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FRI to make large acquisition
for development
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 FRI Investors is currently under contract to purchase a 55 acre site on 45th Street in Mangonia Park formerly the Palm Beach Jai Alai fronton owned by boxing promoter Don King. FRI intends to develop up to 600,000 square feet of flex and distribution space. The fronton closed more than a decade ago and FRI hopes to take what has been an abandoned property and convert it to a tax and job-generating employment center.
The Town of Mangonia Park and Palm Beach County are very excited about the opportunities FRI Investors presents with this purchase since it provides a rare product in Palm Beach County: flex and distribution space. FRI hopes to begin construction, which includes demolishing the vacant fronton, by September, 2007.
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FRI Investors, Inc. Acquires
Liberty Square
July 2006 - FRI Investors, Inc. is pleased to announce its latest acquisition of One and Two Liberty Square, two Class “A” mid-rise office buildings totaling 419,547 square feet. Located at 55 and 75 Beattie Place in the heart of vibrant Dowtown Greenville, South Carolina, the center of business activity in the Greenville-Spartanburg area. One and Two Liberty Square were constructed in 1983 and 1986 respectively and extensively renovated in late 2005. Notable tenants include NHP Management Company (an AIMCO Company), KPMG, Jackson Lewis, Gallivan, White & Boyd, Dority & Manning, Commerce Club, Ernst & Young, Haynsworth, Sinkler, Boyd and Robert Half International. |
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New Name Reflects Regional Growth
February 2006 - Celebrating its tenth anniversary, Florida Realty Investments announces the change of its name to FRI Investors. This change reflects the regional expansion of the Company with assets throughout the Southeast U.S.
Beginning with its first acquisition in 1995, a 40,000 square foot office building in South Florida, the company has grown dramatically in size and stature, and today owns a portfolio of over 2.2 million square feet throughout the Southeast. |
Its principals, Michael McCloskey and Jonathan Cameron-Hayes along with their talented staff have carefully selected their acquisitions and have achieved superior returns for their investors and maintained an excellent relationship with their institutional lenders.
“ With our strong history and substantial relationships with national tenants, institutional financing sources with a significant presence in multiple markets, I see ourselves well positioned to continue to work at the highest level of the commercial real estate industry” states Michael McCloskey, Chairman and CEO. “Our new name reflects our objective to continue our past successes on an even larger basis.”
AmSouth Center to
receive a 27,000 square foot addition
 Below
are renderings of the proposed two-story, 27,000 square foot
building addition for AmSouth Center in Nashville, TN. The
building will replace the existing plaza on the corner of
Union Street and 3rd Avenue. The addition is designed for
a restaurant on the 1st floor and fitness facility on the
2nd floor. Currently under construction across the street
is the new city park complete with lawn water features, lush
landscaping and a new 1200 space underground city owned parking
garage is scheduled for completion in August 2006.
Palm Beach County
Convention Center Hotel Development
 June
2004 - FRI Investors has actively bid
to develop the Palm Beach County Convention Center Hotel in
downtown West Palm Beach. FRI Investors has assembled
an impressive team to complete this development. The landmark
hotel will consist of 400 rooms using the Hilton Hotel's Embassy
Suites brand. The building stands 17 stories high with two
below-grade parking levels. The building will be built by
Weitz Construction Company and the financing will be provided
by Wachovia Bank as the construction lender and Lehman Brothers
as the equity partner.
Citigroup develops
33 acres in Carolina Corporate Center
 May
2004 - Citigroup, through its subsidiary CitiCards,
has acquired 33 acres of land at Carolina Corporate Center
for the development of a two-phased, 350,000 square foot office
 building
to be used as a call center. This is the largest transaction
the market has had in 2004 and reinforces Carolina Corporate
Center's location as the up-and-coming place to be.
Citigroup
selected this site based upon its:
- Excellent location and access to the
interstate road system and the recently opened southern
connection of the Greensboro loop road.
- State-of-the-art infrastructure with
dual feed power and sonet ring.
- Attractive campus style setting with
excellent amenities.
- A large well-priced labor pool.
- The development of the new FedEx hub
at the Piedmont Triad International Airport.
The images shown above reflect the
rapid pace of construction being made. CitiCards will be open
for business in October 2004, six months after closing the
land acquisition.
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