LEXINGTON, KY. — Lexington-based The Fraternal Order of Plumbers and Steamfitters has acquired a 17,776-square-foot industrial facility in Lexington. Located at 701 Allenridge Point, the property sold for $950,000. Peter Barr of Haymaker Bean represented the buyer; Bruce Isaac and Chad Voelkert of NAI Isaac represented the seller, LRG Properties, in the transaction.
Southeast
DECATUR, GA. — Oakhurst Realty Partners has purchased the Executive Building, which is located at 125 E. Trinity Place in downtown Decatur. The three-story, 16,500-square-foot property offers two floors of office space above ground-level retail space. The buyer plans to immediately renovate the property. B. Fisher Paty and A. Barton Lester provided in-house representation for the buyer. The seller and acquisition price were not disclosed.
BALTIMORE — Chicago-based Sierra U.S. has opened a new regional brokerage office in Baltimore to serve the mid-Atlantic region from Northern Virginia to Delaware. The office will be headed by Mark Mueller, and Ashley Schneenman will serve as a principal. The new office is located at 616 Water St., Suite 317.
MONTGOMERY, ALA. — Passco Cos. has completed the acquisition of Carrington Park Apartments, a 240-unit multifamily complex in Montgomery, for $22.76 million. Located at 2000 Central Parkway, the Class A community opened in 2008 and features a “big house” design that offers attached garages, private entries and direct access to units. Ron Cameron with Primary Capital Realty Group represented both Passco and the seller, Montgomery Partners, in the transaction.
AUSTELL, GA. — Hartman II, a 261,799 industrial building at Hartman Business Park in Austell, has been sold to KBS REIT II for $10.8 million. Located at 555 Hartman Road, Hartman II is 100 percent leased to Nexen Tire America. Chris Riley, Frank Fallon and Brian Budnick of CB Richard Ellis' Atlanta Investment Properties Institutional Group represented KBS Capital Advisors in the transaction. KBS purchased the 353,983-square-foot Hartman I in July 2007.
DEERFIELD BEACH, FLA. — CB Richard Ellis has arranged the sale of a 43,573-square-foot industrial building located at 588 Jim Moran Boulevard in Deerfield Beach. The property was purchased by SHL Realty for $2.75 million or $63.11 per square foot. Harry G. Tangalakis and Tom O'Loughlin of CBRE's Fort Lauderdale, Fla., office represented the seller, Motivating Graphics. Carol Martinez with Miami-based Direct Realty Solutions represented the buyer.
COLUMBIA, MD. — Madison Marquette has purchased a land parcel that includes a 90,000-square-foot retail property from a private party for $7.2 million and will build a 63,000-square-foot Toys 'R Us/Babies 'R Us store on the site. The 10-acre property, located in the Columbia Center II shopping center in Columbia, was formerly occupied by Home Expo Design Center. After the new tenant moves in, additional retail space will be available.
ALTAMONTE SPRINGS, FLA. — Considine Altamonte Springs Investor has borrowed $10.57 million in acquisition financing for the 224-unit Archstone Altamonte Springs apartment complex. The Altamonte Springs property includes a pool, a clubhouse, a car wash area and tennis courts. The Freddie Mac loan carries a 10-year term and a 30-year amortization schedule. Charles Foschini, Christian Lee and Christopher Apone of CB Richard Ellis Capital Markets arranged the loan.
FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the $2.67 million sale of Cypress Business Center between two private parties. The 42,495-square-foot flex building is located at 5801 N. Andrews Ave. in Fort Lauderdale. The one-story building sits on 2.99 acres of land. Douglas Mandel of the firm's Fort Lauderdale office brokered the sale.
ROANOKE, VA. — Puglisi Family has purchased a McDonald's pad site from Fairway Roanoke for $1.3 million. The property is located at 1335 Hershberger Road in Roanoke. Thalhimer's Jake Copty brokered the sale.