OSCEOLA COUNTY, FLA. — NAI Realvest has started construction on Poinciana CommerCenter, an approximately 200,000-square-foot commerce center, in Osceola County. The first buildings will include an industrial dock-high building totaling 50,000 square feet and two grade-level buildings totaling 25,000 square feet. Also included will be two retail outparcels totaling 2 acres. In addition, Small Bay Partners is developing a 125,000-square-foot industrial facility in two phases at Poinciana CommerCenter. Phase I will include 60,000 square feet and will begin construction first quarter 2008. Phase II will begin construction in 2009. The property is located on the south side of U.S. 17-92 off Poinciana Boulevard.
Industrial
OSCEOLA COUNTY, FLA. — NAI Realvest has started construction on Poinciana CommerCenter, an approximately 200,000-square-foot commerce center, in Osceola County. The first buildings will include an industrial dock-high building totaling 50,000 square feet and two grade-level buildings totaling 25,000 square feet. Also included will be two retail outparcels totaling 2 acres. In addition, Small Bay Partners is developing a 125,000-square-foot industrial facility in two phases at Poinciana CommerCenter. Phase I will include 60,000 square feet and will begin construction first quarter 2008. Phase II will begin construction in 2009. The property is located on the south side of U.S. 17-92 off Poinciana Boulevard.
MIAMI — Iron Mountain, a Boston-based information protection and storage company, has signed a 130,000-square-foot warehouse lease in Miami. John Vaught and Elsa Heredia with CB Richard Ellis’ Miami Airport office represented the tenant, and Industrial Group Realty represented the landlord, 114th Street Property LLC. The facility is located at 3355 NW 114th St. near Interstate 75 and the Miami International Airport.
MIAMI — Iron Mountain, a Boston-based information protection and storage company, has signed a 130,000-square-foot warehouse lease in Miami. John Vaught and Elsa Heredia with CB Richard Ellis’ Miami Airport office represented the tenant, and Industrial Group Realty represented the landlord, 114th Street Property LLC. The facility is located at 3355 NW 114th St. near Interstate 75 and the Miami International Airport.
ABERDEEN, MD. — Opus East and the U.S. Army are developing the Government and Technology Enterprise (G.A.T.E.), a 200-acre development at Aberdeen Proving Ground in Aberdeen. Opus plans to build three buildings on the first land bay to be developed, including a research and development facility and two speculative office buildings. The first building is a 60,000-square-foot single-story research and development facility that is expected to be complete by summer 2008. The second building planned is an 80,000-square-foot office building, which will be underway in 2008. The G.A.T.E. project is part of the U.S. Army’s Enhanced Use Lease (EUL) program. Under the terms of the EUL, Opus will lease each land bay for 50 years, allowing the U.S. Army to develop underutilized property and redirect the proceeds back into the maintenance and improvement of Aberdeen Proving Ground facilities.
VIRGINIA BEACH, VA. — Thalhimer has brokered the sale of One Bowland Parkway in Virginia Beach. Emmaus Way Enterprises acquired the 17,500-square-foot office/warehouse building from One Bowland Parkway LLC for $1.8 million. The property is situated on 1.16 acres at 2401 Bowland Parkway. The owner will operate their company, Triple I Technologies, on the property. Janet Whitbeck and Jennifer Whitbeck of Thalhimer/Cushman & Wakefield brokered the sale.
KNOXVILLE AND MARYVILLE, TENN. — Bob Thornton of Baker Realty Co. has brokered two industrial sales in the Knoxville area, totaling approximately 220,000 square feet, for $3.4 million. The 162,500-square-foot Silver Furniture building in Knoxville, situated on 15.5 acres, sold for $2.25 million, while Klote International’s 54,000-square-foot industrial property in Maryville, situated on 10 acres, sold for $1.2 million.
CONCORD, N.C. — Charlotte, N.C.-based Beacon Partners has purchased land in the International Business Park in Concord. The firm has closed on 11 acres in Phase II of the park and plans to launch a multi-building speculative development program. CB Richard Ellis brokered the transaction. The Nolim Group, owners of the business park, intended for lots 10 and 11, which Beacon Partners purchased, to become speculative building sites.
EDGEWOOD, MD. — Joseph Casey and Thomas Burns of Cushman & Wakefield have represented Boston-based High Street Equity Advisors in the acquisition of 1704 Trimble Rd., a 105,000-square-foot industrial property, in Edgewood from an undisclosed seller. The property was built in 2001 on 10.8 acres and features 28-foot ceiling heights, drive-in and dock loading. Casey and Burns will lease the property for its new owner.
COCOA, FLA. — Monmouth Real Estate Investment Corp. has acquired an 89,101-square-foot industrial building, located at 3155 Grissom Pkwy. in Cocoa for $10.4 million. Regional Development Group constructed the building in 2006 and sold the property to Monmouth. The property is net-leased to FedEx Ground Package System, a subsidiary of Federal Express Corp., through July 2017.