REBusinessOnline

TSCG Negotiates $11.7M Sale of Retail Property in Metro Miami

NARANJA, FLA. — TSCG has negotiated the $11.7 million sale of Naranja Lakes Shopping Center, a 90,450-square-foot, grocery-anchored retail property in Naranja. The property was 95 percent leased at the time of sale to tenants including Winn-Dixie, Family Dollar and La Colonia Medical Center. The asset is situated at the intersection of U.S. Highway 1 and Naranja Lakes Blvd., 29 miles south of downtown Miami. Anthony Blanco of TSCG represented the seller, an affiliate of Asheville, N.C.-based …

Flagship Healthcare Trust Acquires 55,912 SF Medical Office Building in Hickory, North Carolina

HICKORY, N.C. — Flagship Healthcare Trust Inc. has acquired Tate Medical Commons IV, a 55,912-square-foot medical office building in Hickory. The Charlotte-based REIT will also manage the property, which was fully leased at the time of sale to tenants including Catawba Valley Medical Center and Catawba Women’s Center. The asset is situated at 1501 Tate Blvd. SE, next to Tate Medical Commons. First Horizon Bank provided acquisition financing on behalf of the buyer. The seller and sales price …

Amazon to Develop 600,000 SF Fulfillment Center, Last Mile Facility Near Tampa

TEMPLE TERRACE AND LUTZ, FLA. — Amazon will develop a 600,000-square-foot fulfillment center in Temple Terrace. The Seattle-based e-commerce giant expects the facility to open in 2021 and house 750 full-time employees. Employees at the site will pick, pack and ship smaller customer items such as books, electronics, small household goods and toys. In addition, Amazon will hire for roles in human resources, operations management, safety, security, finance and information technology. Temple …

Stag Industrial Signs Book Publisher to 1 MSF Industrial Lease in Hampstead, Maryland

HAMPSTEAD, MD. — Stag Industrial has signed a book publisher to a 1 million-square-foot industrial lease at 630 Hanover Pike in Hampstead. The lease was effective Aug. 1 and will last for five-and-a-half years with three months of free rent and 3 percent annual rent escalations. The property is situated 30 miles north of downtown Baltimore. As of June 30, Boston-based Stag’s portfolio comprised 457 buildings in 38 states with approximately 91.8 million rentable square

Nearly 1.2M Americans File First-Time Unemployment Claims, Lowest Weekly Figure Since COVID-19 Outbreak

WASHINGTON, D.C. — Nearly 1.2 million Americans filed for first-time unemployment assistance during the week ending Aug. 1. The latest figure is the lowest weekly total since the COVID-19 pandemic hit the United States. Economists surveyed by Dow Jones expected 1.4 million claims for the week.There have now been 20 consecutive weeks of initial claims totaling more than 1 million filings.The four-week moving average was 1.3 million claims, a decrease of 31,000 from the previous …

SRS Arranges $5.9M Sale of Single-Tenant Healthcare Property in South Florida

GREENACRES, FLA. — SRS Real Estate Partners’ National Net Lease Group has arranged the $5.9 million sale of a property leased to ChenMed, a medical provider focused on the care of senior citizens. The 13,635-square-foot property is located at 4998 10th Ave., 10 miles southwest of downtown West Palm Beach. ChenMed’s lease is corporate-guaranteed and has nine years remaining. The property, which sits on three acres, was originally developed in 1999 for Walgreens, which occupied the space …

Colliers Negotiates $4M Sale of CVS-Occupied Property in Paducah, Kentucky

PADUCAH, KY. — Colliers International has negotiated the $4 million sale of a 10,121-square-foot CVS/pharmacy-occupied property in Paducah. The building was originally developed in 1999 and is located at 3001 Lone Oak Road. There are 19 years remaining on CVS’ 20-year lease extension. Jon Busse of Colliers represented the buyer, Emerald Paducah LLC, in the transaction. The new ownership acquired the asset to partially complete a 1031 exchange. Matt Berres of Newmark Knight Frank (NKF) …

Kimball Key Sells Apartment Complex Near Tampa for $55.8M

CLEARWATER, FLA. — Kimball Key LLC has sold Woodland Key Apartments, a 416-unit complex in Clearwater, for $55.8 million. The property offers one- and two-bedroom floor plans. Communal amenities include two pools with sundecks, a grilling area, car care center, 24-hour fitness center, two dog parks and a clubhouse. The asset is located at 2770 Roosevelt Blvd., 19 miles west of downtown Tampa. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller in the transaction. …

Chatham Lodging Trust Reports 77 Percent Decrease in RevPAR in Second Quarter

WEST PALM BEACH, FLA. — Chatham Lodging Trust (NYSE: CLD) has reported its revenue per available room (RevPAR) declined 77 percent to $33 on a year-over-year basis in the second quarter due to the COVID-19 lockdown. The West Palm Beach-based hotelier also reported that its net income for the quarter dropped by $36.7 million to a net loss of $27.2 million.The company experienced month-over-month increases to occupancy and RevPAR within the second quarter. Portfolio-wide occupancy was 23.7 …

Cushman & Wakefield Arranges $41.2M Sale of Industrial Property in Central Florida

LAKELAND, FLA. — Cushman & Wakefield has arranged the $41.2 million sale of CenterState West, a 440,000-square-foot distribution center in Lakeland. The property is situated on 44 acres at 8054 State Road 33 N., 40 miles east of downtown Tampa and 45 miles west of downtown Orlando. The building features 115 dock doors, 36-foot clear heights, 120- to 130-foot truck court depths, 172 trailer parking spaces and ESFR sprinklers. Rick Brugge, Mike Davis, Rick Colon, Dominic Montazemi, Zachary …

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