WINTER PARK, FLA. — CBRE has brokered the $5.2 million sale of the 195-unit Sun Bay, a multifamily property located at 7001 Aloma Ave. in Winter Park. Shelton Granade and Luke Wickham of CBRE's Orlando office represented the seller in the transaction. The buyer plans to renovate and reposition the property, which is currently 89 percent leased.
Property Type
BLYTHEWOOD, S.C. — Columbia, S.C.-based NAI Avant has arranged the $1.95 million sale of a 35,800-square-foot industrial property, located at 1101 Carolina Pines Dr. in Blythewood. Nick Stomski of NAI Avant represented ALD Thermal Treatment, the seller, in the transaction. The buyer was Spirax Sarco.
ORLANDO, FLA. — Atlanta-based Hodges Ward Elliott has arranged the $1.77 million sale of the 108-room Orlando Inn, located at 5900 American Way in Orlando. Anthony Falor of Hodges Ward Elliott's Select Service Division represented the undisclosed seller in the transaction. Florida-based Ark Hotel Group was the buyer. The property will be repositioned as the Super 8 Universal Studios — Orlando.
DORAL, FLA. — Fraga Properties has broken ground on the 8,000-square-foot Phase II of the 40,000-square-foot Shops of Doral, located at N.W. 74th Street and N.W. 107th Avenue in Doral. Development costs will exceed $1 million. Current tenants include CVS/pharmacy, Bank of America, Wine & Spirits Emporium, Subway, Metro PCS and more. Completion is slated for spring 2012.
MILWAUKEE, WIS. — Milwaukee-based Athea purchased a 245,000-square-foot industrial facility, located at 1900 W. Cornell St. in Milwaukee, for an undisclosed amount. Milwaukee-based Cassidy Turley Barry represented both sides of the transaction. David Barry and Kurt Van Dyke represented the seller, Norcross, Ga.-based Rock Tenn, and James Young represented Athea.
STREETSBORO, OHIO — Wendy's Co. will open a new restaurant at 4931 N. Oak Traffic Way in the North Oak Village Shopping Center in Kansas City, Mo. Located at the intersection of North Oak and Vivion roads, the 3,000-square-foot restaurant will open to the public Oct. 15.
COLUMBUS, OHIO — Boston-based Stag Industrial Inc. has acquired a 380,000-square-foot warehouse and distribution facility located near Columbus, Ohio for $7.8 million. The facility is fully leased to Ridgeland, Mo.-based Arrow-Intechra LLC with more than six years remaining on the lease.
WESTFIELD, MASS. — Gulfstream Aerospace, a jet aircraft manufacturer, is expanding its service center at Barnes Regional Airport in Westfield, Mass. by investing approximately $20 million to build a 100,000-square-foot maintenance facility. The facility will be adjacent to the existing 85,000-square-foot facility.
WALTHAM, MASS. —The suburban leasing group of NAI Hunneman has negotiated a 13,360-square-foot office lease renewal and expansion for Waltham, Mass.-based RentGrow Inc. at 307 Waverly Oaks Rd. in Waltham. Jim Boudrot and Evan Gallagher of NAI Hunneman represented RentGrow, a tenant screening company, in the transaction. Duffy Properties, the landlord, was self-represented.
NEWARK, N.J. — Damascus Bakeries, a commercial baking company, is relocating its Brooklyn operations to 60 McClellan St. in Newark, N.J. The 117,419-square-foot industrial building was purchased for $3.5 million and is scheduled to open in early 2012. Damascus plans to invest about $1.2 million in site improvements and upgrades.