JESSUP, MD. — Boston-based TA Associates Realty has purchased a 205,000-square-foot industrial warehouse at 8125 Stayton Dr. in Jessup for $13.7 million. It is fully leased to Capitol Express & Warehousing through 2018. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Stayton Associates.
Southeast
BOCA RATON, FLA. — The 10-story One Town Center, formerly known as the Tyco Building, is undergoing renovations and re-entering the Boca Raton market with Class A office space in the Glades/West Boca submarket. MetLife owns the building and has retained CBRE to lease and manage the property. Renovations are being completed by Fort Lauderdale, Fla.-based architect HKS. The building was constructed in 1990 and its most recent tenants were ADT and Tyco International.
ORLANDO, FLA. — Metro Pointe Shopping Center, a 32,538-square-foot retail property, has traded for $4.75 million in Orlando. It is 100 percent occupied and is shadow-anchored by a Walmart Supercenter. Metro Pointe Shopping Center’s tenants include Planet Fitness Gym and Rainbow USA, a clothing store. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a Sunrise, Fla.-based banking institution. The buyer was a private investor from Toledo, Ohio.
TAMPA, FLA. — A joint venture between Feldman Equities Inc. and Tower Realty Partners has acquired the 22-story, 387,477-square-foot Wells Fargo Center for $44.8 million in downtown Tampa. The Class A office building is located across from the Tampa Convention Center and includes anchor tenants Wells Fargo & Co., Phelps Dunbar and UBS. It is currently 77 percent leased. Larry Feldman of Feldman Equities Inc. will lease Wells Fargo Center and Tower Realty Partners will handle management responsibilities. Eastdil Secured represented the seller and HFF represented the buyer.
TAMARAC, FLA. — Marcus & Millichap has arranged the $15 million sale of 222 apartment units in the 291-unit Jasmine Condominiums in Tamarac. Tal Frydman, Derek Gibbs and Daniel Cunningham of Marcus & Millichap represented both the seller, an Israel-based private investment company, and the buyer, a real estate investment management group. Jasmine Condominiums is located at 8650 N.W. 61st St. and was built in 1987.
MIAMI — Marcus & Millichap has facilitated the $5 million sale of the 24,700-square-foot Colony Shops, a retail strip center at 5058 Biscayne Blvd. in Miami’s Midtown district. The property is 100 percent occupied with a mix of local tenants including a Bikram Yoga studio, doctor’s office and law firm. Ryan Shaw of Marcus & Millichap represented the unlisted seller, and Scott Sandelin of Marcus & Millichap represented the buyer, a Miami Beach, Fla.-based limited liability company.
STUART, FLA. — Amore Dementia Care, which provides its residents with services such as exercise classes designed to promote muscle group stimulation and cognitive function, has sold for approximately $2.4 million. The property is located at 1634 S. Kanner Hwy. in Stuart. Growth Capital Investments LLC purchased the healthcare property from Soleil Management Group LLC, which has operated the 19-unit, 38-bed facility since it was built in 2000. Trusted Seniors Care Inc., a seniors housing management company, will handle the day-to-day operations. Kenneth Carriero and Damien Carriero of Colliers National Seniors Housing Group facilitated the sale.
NORFOLK, VA. — Hampton Roads Church has purchased the 13,500-square-foot Brith Sholom Center at 1132 Pickett Rd. in Norfolk for $1.25 million to serve as a new church location. Geoffrey Poston of Cushman & Wakefield/Thalhimer represented the seller, and William Throne of Cushman & Wakefield/Thalhimer represented the buyer.
MIAMI AND BOCA RATON, FLA. — David Woida of NorthMarq’s Milwaukee regional office has arranged approximately $62 million in combined first mortgage refinancing for three South Florida multifamily properties totaling 926 units. The 362-unit Waterford Landing Apartments was financed at $25.2 million and the 244-unit Waterford Point Apartments at $16.5 million in Miami. The 320-unit Reflections of Boca Apartments was also financed at $20.25 million. Financing for these properties was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.
LAUREL, MD. — Montpelier Research Park, a four-building office/flex property at 7701-7707 Montpelier Rd. in Laurel, has traded for $18.85 million. Los Angeles-based Fort Properties sold the 158,000-square-foot property to Exeter Property Group. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented Fort Properties in the transaction.