MADISON AND FERRUM, VA. — Two Virginia Dollar General Stores, located in Madison and Ferrum, have been sold for $2.54 million. Andrew Fallon of Calkain Cos.' Bethesda, Md., office represented the seller, the developer of the assets, in the transaction. Arthur Judelsohn of Pyramid Brokerage Co.'s Buffalo, N.Y., office represented the buyer, a Northeast real estate development company.
FORT MYERS, FLA. — Chico's Retail Services has purchased a 33,000-square-foot industrial building, located at 10995 Metro Pkwy. in Fort Myers, from CDW 10995 Metro Parkway, LLC, for $2.5 million. Randal Mercer of CBRE's Fort Myers office represented the seller in the transaction, and Allan Fox of Commercial Property Management represented the buyer.
NORCROSS, GA. — Virginia-based SugarOak has acquired the 55,000-square-foot Spalding Exchange Office Park, located off of Holcomb Bridge Road in Norcross, from LNR for an undisclosed price. Kevin Markwordt of Transwestern's Atlanta office represented the buyer in the transaction and Eva Horton of Grubb & Ellis' Atlanta office represented the seller.
JACKSON, TENN. — Jackson-based Crocker Construction Co. and Memphis, Tenn.-based Henry Turley Co. have plans to build the $28.35 million, 99,117-square-foot Living Fit in Tennessee, a wellness center located at the 17-acre CityWalk in downtown Jackson. The facility will include a 75,000-square-foot community center, leased to West Tennessee Healthcare, as well as offering fitness and wellness programs, a swimming pool, a primary care clinic, a physical therapy rehabilitation center and an aqua therapy program. A joint venture between CT Realty Investors and KDF Communities provided $9.4 million in New Markets Tax Credit financing, in conjunction with Wells Fargo Bank, for the center.
HUNTERSVILLE, N.C. — A 559,750-square-foot industrial facility, located at 12801 Jamesburg Dr. in Huntersville, has sold for $22 million. An affiliate of AREA Property Partners purchased the property from an undisclosed seller, represented by David Allen and Dunn Mileham of Trinity Partners. National credit tenants Aaron's, Inc. and Pactiv Corp. fill the 89 percent occupied building, which was originally built to serve as the distribution facility for Philip Morris' Cabarrus manufacturing facility.
RIVERVIEW, FLA. — Marcus & Millichap has brokered the $10.2 million sale of the 432-unit Allegro Palm, a condominium community located at 5501 Legacy Crescent Pl. in Riverview. Still Hunter, III, and Evan Kristol of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a South American investment group, in the transaction and procured the buyer, Legacy Crescent.
CORAL SPRINGS, FLA. — Tremblay Properties has purchased a 46,752-square-foot warehouse, located at 4150 N.W. 120th Ave. in Coral Springs, from Commerce Center of Coral Springs for $3 million. Les Byron of Sperry Van Ness' Fort Lauderdale, Fla., office represented the buyer in the transaction, and Tim Cross of Coral Springs-based Syndicon Realty represented the seller.
ST. PETERSBURG, FLA. — CBRE has arranged the $2.9 million sale of the 67,050-square-foot Town Plaza, a shopping center located at 1846 62nd Ave. N. in St. Petersburg. Mark Shellabarger of CBRE's Tampa, Fla., office represented the undisclosed seller in the transaction. The buyer, a locally-based private investor, plans to renovate the center.
IRVINE, CALIF. — Irvine-based Auction.com has reached $453 million in sales, with more than $600 million in Unpaid Principal Balances sold, in its recent online auction of Non-Performing Notes & Commercial REO Properties in the Southeast. The properties are located in Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Tennessee and Virginia. Auction.com sold 187 assets on behalf of the 10 institutional clients who participated in the sale. Starting bids ranged from $500 to $10.5 million, and included multifamily, manufactured housing communities, retail, mixed-use, hotel, land, self-storage, office, industrial and special-purpose assets.
ATLANTA — The 375,085-square-foot One Georgia Center, located at 600 W. Peachtree St. in Atlanta, has been sold for $48.6 million. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Cousins Properties, the seller, in the transaction. Newton, Mass.-based Government Properties Income Trust was the buyer.