MIAMI — An affiliate of Doral, Fla.-based The Easton Group has acquired two adjacent industrial buildings totaling 58,954 square feet at 3939 and 3901 N.W. 27th St. in Miami, just east of the Miami International Airport, for $2.9 million. The existing tenant, GA Telesis, signed a five-year lease as part of the transaction. GA Telesis markets, sells and leases aircraft engines. Espirito Santo Bank handled the transaction’s financing.
Southeast
TAMPA, FLA. — Monument Leasing Co. has sold a 25,800-square-foot warehouse for approximately $1 million to 7902 Anderson Road Crossings LLC, which plans to occupy the building after significant renovations. The building is located in a predominately<
TAMPA, FLA. — Florida-based Stevens Construction has started construction of a multi-phase revitalization of Florida Hospital Tampa. The master project includes both interior and exterior updates to the building, located at 3100 E. Fletcher Ave. in Tampa. Exterior updates include 202,732 square feet of updated exterior vertical wall surface, the addition of more than 30,000 square feet of impact-rated glass windows on the South, Main and North Towers, and new lighting features. The interior renovation of 355 patient rooms will include new flooring and painting. Florida Hospital Tampa will remain operational throughout the entire project, which is set for completion in the summer of 2014.
PENSACOLA, FLA. — Prudential PenFed Realty, a full-service real estate company serving the Northeast, Mid-Atlantic and Southeastern United States, has acquired Pensacola-based Prudential Coastal Properties, a full-service real estate agency that serves northwest Florida’s residential and commercial properties. Prudential Coastal Properties has been in business for 12 years and will be renamed Prudential PenFed Realty.
MAULDIN, S.C. — Siemens Industry Inc., a maker of mechanical and electrical drive equipment, plans a new 45,600-square-foot assembly and manufacturing facility in Mauldin. The industrial property will place the company’s products closer to machine builders and manufacturers in the Southeast. “The announcement of this plant adds to Siemens’ ability to be a single-source provider of integrated drive train solutions for the industry,” says Doug Keith, president of Siemens Drive Technologies Division.
HICKORY, N.C. — Beachwood, Ohio-based Chase Properties Ltd., an owner and operator of community shopping centers, has acquired the 144,000-square-foot Valley Corners from Collett & Associates. The shopping center is located directly on Highway 70 in Hickory and is anchored by Michaels, Ross Dress For Less, Ashley Furniture and PETCO. Other tenants include Rack Room Shoes, Dressbarn, Cato, McDonald’s, Olive Garden and Chili’s. David Webb of Berkeley Capital Advisors brokered the transaction.
WASHINGTON, D.C. — Chevy Chase, Md.-based Federal Capital Partners (FCP) has sold the 297-unit Allegro Apartments, located in Washington, D.C.’s Columbia Heights neighborhood, to an institutional buyer. The mixed-use property includes a 247-space underground parking garage and more than 6,000 square feet of retail space. Dave Nachison and Alan Davis of HFF represented FCP.
MCDONOUGH, FAIRBURN AND BRASELTON, GA. — An affiliate of USAA Real Estate Co. has acquired a three-building, 2.8 million-square-foot industrial portfolio in metro Atlanta. The Class A bulk distribution warehouses are fully occupied by Home Depot USA Inc., Owens Corning Insulating Systems LLC and PETCO Animal Supplies Stores Inc. Home Depot’s 1.2 million-square-foot distribution center is in McDonough, Owens Corning’s 1 million-square-foot distribution center is in Fairburn and PETCO’s 506,200-square-foot distribution center is in Braselton. “The Atlanta industrial portfolio offers a unique opportunity to acquire three premier quality distribution facilities within a core inland port market,” says Pat Duncan, chairman and CEO of USAA Real Estate Co. The buildings benefit from their proximity to the Port of Savannah.
FORT LAUDERDALE, FLA. — Toronto-based Avison Young, Canada’s largest independently owned commercial real estate services company, has expanded its operations into Florida by acquiring Flagler Real Estate Services LLC (FRES). Thirty FRES employees have joined Avison Young’s new Florida operations, which is headquartered in Fort Lauderdale with branch offices in Boca Raton and Miami. Eight new principals join Avison Young including Pike Rowley, Keith O’Donnell, Wayne Schuchts, Greg Martin, A.J. Belt III, Brian Mark, Michael Vullis and Scott Auker. FRES is the service arm of Flagler, one of Florida’s oldest and largest full-service commercial real estate companies. The move further expands Avison Young’s market coverage in the Southeast. The company also recently agreed to acquire Raleigh, N.C.-based commercial real estate services firm Thomas Linderman Graham Inc.
MIAMI — Miami’s Hampton Village Apartments, a distressed apartment building built in the 1950s, will undergo a $20 million redevelopment into a new four-story affordable housing complex. Landmark Cos., Carrfour Supportive Housing and Special Asset Support Services Inc. are leading the redevelopment at 4301 N.W. 29th Ave. in Miami. It will create 100 newly redeveloped affordable housing units, providing permanent homes for residents at or below 60 percent of the area’s median income. Completion of the project is scheduled for late 2013.