HENDERSONVILLE, N.C. — A Florida-based buyer has purchased Walgreens Pharmacy #10886 in Hendersonville. Located at 1148 Asheville HIghway, the 15,371-square-foot retail property sold for $5.03 million. Allen Smith of Marcus & Millichap's Charlotte, N.C., and Larry Curry of the firm's Tampa, Fla., represented the buyer in the transaction. The seller was not disclosed.
POMPANO BEACH, FLA. — DRM Partners has acquired a 24,450-square-foot industrial property, which is located at 1831 Blount Road in Pompano Beach. Meli Inc. sold the property for $2.49 million or $101 per square foot. The new owners plan to occupy part of the building with the remaining portion occupied by a credit-tenant on a long-term lease. DRM Partners intends to use the space for the expanded operations of Exotech Inc., a metal processing and recycling operation. Harry Tangalakis, Tom O'Loughlin and Lindsay Dekker of CB Richard Ellis represented the seller in the transaction.
ST. CLOUD, FLA. — NAI Realvest has brokered the sale of Buffet City restaurant and its 2.02-acre site, which is located at 4551 13th St. in St. Cloud. Local investment firm Sun Valley Eastern Investments acquired the 10,523-square-foot property for $1.49 million. Paul Partyka of NAI Realvest represented the seller, Sooner Investment or Sooner St. Cloud LLC of Melbourne, in the transaction. NAI Realvest's Kevin O'Connor and Matt Cichocki represented the buyer.
ATHENS, GA. — Grubb & Ellis Healthcare REIT II has acquired Athens Long-Term Acute Care Hospital, which is located at 775 Sunset Dr. in Athens. Built in 2008, the single-tenant property offers 32,000 square feet of Class A medical office space. The property is leased by Landmark Real Estate Holdings, which is leased through 2025. Creative Health Capital represented the seller, White Oaks Real Estate Investments of Georgia, in the transaction. Grubb & Ellis Healthcare REIT II financed the acquisition using $12.3 million in borrowings under its line of credit with Bank of America and cash proceeds received from its offering.
BRADENTON, FLA. — Clearwater, Fla.-based TJM Properties has purchased Summerfield Retirement Residence, a 74,7786-square-foot assisted-living and memory-care community in Bradenton. The 120-unit property sold for $9.5 million or $79,167 per unit. Built in 1998, the property was 78 percent occupied at the time of closing. Health Care Services Group represented the seller, Summerfield Retirement Residence LTD, in the transaction.
CORAL SPRINGS, FLA. — Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office represented a Miami-based company in the disposition of the Gardens of Miami Center. Located on Miami Gardens Drive in Miami, the 52,670-square-foot shopping center sold for $4.35 million. The two-story center was 50 percent occupied at the time of closing. The buyer was not released.
MECHANICSVILLE, VA. — Morgan Property Group (MPG) is developing a free-standing Walgreens drugstore at the southeast corner of Mechanicsville Turnpike and Lee Davis Road in Mechanicsville. The 14,470-square-foot location is expected to open during the third quarter of 2011. This is the 17th Walgreens developed by MPG in Virginia.
MCDONOUGH, GA. — Passco Cos. has acquired Sundance Creek, an apartment community located at 575 McDonough Parkway in McDonough. Built in 2004, the property offers 232 one- and two-bedroom townhome units, a clubhouse, a resort-style swimming pool and a state-of-the-art fitness center. Additional details of the transaction were not released.
CLINTON, TENN. — Knoxville, Tenn.-based Formall Plastics has purchased a 200,000-square-foot industrial property in Clinton. Situated on 30 acres at 1709 Lake City Highway, the manufacturing/distribution facility sold for $1.8 million. Bob Thornton of Baker Realty Co. brokered the transaction. The seller was MasterBrand Cabinets.
TUPELO, MISS.; AND GULF BREEZE, FLA. — CLW Health Care Services Group has negotiated the sale of two assisted living communities in Tupelo and Gulf Breeze. Herbert J. Sims and a joint venture partner sold the two properties for a total of $13.9 million or $110,317 per unit. LTC Properties acquired the assets. AvonLea in Tupelo features 65 assisted-living units and 20 independent-living cottage and Gulf Breeze Courtyard in Gulf Breeze features 61 assisted-living/memory-care units.