JACKSONVILLE, FLA. — Michael Mele of Marcus & Millichap’s Tampa, Fla. office arranged the $1.25 million sale of the 52,800-square-foot, 546-unit Mandarin Mini Storage, a self-storage facility located at 10601 San Jose Blvd. in Jacksonville. The property is comprised of eight one-story buildings and 12 parking spaces. The units range from 50 to 200 square feet. Mele represented both the seller, a REIT, and the buyer, a California-based company.
Southeast
STUART & FORT LAUDERDALE, FLA. — J. Raymond Construction has been contracted for two new Fresh Market stores in Stuart and Fort Lauderdale. The Stuart location will be at 2300 South East Ocean Blvd., and the Fort Lauderdale location will be at 424 North Federal Hwy. Each of the new stores will be approximately 30,000 square feet. The Stuart location is slated for completion in December 2011 and the Fort Lauderdale location is slated for January 2012. These are the 6th and 7th Fresh Market stores which J. Raymond has constructed.
ATLANTA — Phoenix-based Cole Real Estate Investments has purchased the 425,000-square-foot Camp Creek Marketplace, located at the intersection of Interstate 285 and Camp Creek Parkway in Atlanta, for $76.3 million. The center is currently 93 percent leased to tenants such as BJ's Wholesale Club, Marshalls, Ross Dress for Less, T.J. Maxx, Barnes & Noble, Staples, PetSmart, Old Navy and more. Eric Zimmerman and Miles Theodore of Eastdil Secured's Atlanta office represented the seller and the buyer was self-represented by Thomas Falatko.
FORT MYERS, FLA. — Boca Raton, Fla.-based Halvorsen Holdings has started construction on Phase I of the 70,000-square-foot Eagle Landing, located at the intersection of Bayshore and Slater Roads in Fort Myers. The first phase, which includes a 46,000-square-foot Publix and 12,200 square feet of small shop space, is scheduled to open in spring 2012.
MIAMI — HSBC Bank has sold two retail units at ICON Brickell in Miami for a combined total of $6.5 million to a New York-based private investor. The spaces are a 13,230-square-foot retail unit in the Northeast tower and an 11,393-square-foot unit in the Southeast tower. Fabio Faerman of Miami-based Fortune International Realty represented both parties in the transaction.
WINTER HAVEN, FLA. — Lakeland, Fla.-based Hauger-Bunch has negotiated the sale of a 44,160-square-foot property, located at 70 Florida Citrus Blvd. in Winter Haven, from Florida Citrus LLC to ITI Center for $1.2 million. The property will be used as a training facility for the International Training Institute for the Sheet Metal and Air Conditioning Industry. Lisa Parks of Hauger-Bunch represented the seller and David Bunch of the same firm represented the buyer.
NASHVILLE, TENN. — Atlanta-based ARA has expanded its operations to Nashville. This is the firm's 24th location. Scott Tyrone, formerly a Cassidy Turley multifamily division leader, heads the office, and the Atlanta team operates as an adjunct.
The city of Huntsville, Alabama, is no stranger to threats of economic disaster, so overcoming it is a matter of pulling together a team of commercial brokers and economic development professionals who will see office and industrial buildings half-full, rather than half-empty. In 1948, the U.S. Army hung a ‘For Sale’ sign on Redstone Arsenal, only to remove it for a team of rocket scientists. In the 1970s, Huntsville’s space industry packed its bags after the last Apollo launch, leaving the city like a bad divorce, before the hands of fate reached out in the form of missile defense. In 2005, the Base Realignment and Closure (BRAC) initiative set Huntsville on a fast track to economic growth and commercial prosperity. Three hard years of unprecedented national financial crashes played havoc with the market, but what remains is a handful of proverbial optimists. The North Alabama Commercial Brokers Association (NALCOM) meeting in February entertained a loyal group of survivors who at this point are unlikely to fail. They believe an increase in inquiries is a positive sign, even if they aren’t at 2007 levels. Rather than analyzing high vacancy rates and crying over companies who left two years ago, they shifted …
MABLETON, DULUTH, AUBURN & AUSTELL, GA. — Welsh Property Trust has acquired seven industrial buildings totaling approximately 1.36 million square feet in Georgia for $64.95 million. Two of the properties are located in Mableton, two are in Duluth, one is in Auburn and two are in Austell. The portfolio is 100 percent leased. Colliers International's Atlanta office has been selected to manage the properties.
MIAMI — TIC Properties has sold a 103,250-square-foot US Postal Service Building, located at 7499 NW 31st St. in Miami, has sold for $6.05 million. Kristopher Wagner and John Crotty of Colliers International's South Florida office represented the seller in the transaction.