ST. AUGUSTINE, FLA. AND CHARLOTTE, N.C. — Three absolute net-leased CVS/Pharmacy properties have sold for $12.1 million. Two of the properties are located in St. Augustine and one is in Charlotte. The properties total more than 38,000 square feet and are leased to CVS Caremark through 2034. The buyer was Phoenix-based Cole Real Estate Investments and the seller was a Calif.-based LLC. Terry Marks of New Hope, Pa.-based National Net Lease Realty represented the seller. Cole was represented by Chad Adams of Cole Capital.
PEMBROKE PINES, FLA. — Miami Jewish Health Systems broke ground on its latest expansion of Douglas Gardens North. The new 75-unit building will open in 2012 and offer low-income seniors access to healthcare and social services. The development was made possible by a $10.5 million U.S. Department of Housing and Urban Development grant.
PENSACOLA, FLA. — Construction has begun for Airport and 12th, a $24 million, 11.44-acre mixed-use development at Pensacola Gulf Coast Regional Airport in Pensacola. The developer of the project is Sandspure Development, an affiliate of Gulf Breeze, Fla.-based Innisfree Hotels. The project contains more than 11 acres of office and retail space as well as a 127-room Hyatt Place Hotel. Innisfree Hotels will build and manage the hotel, which will connect directly to the airport terminal. Philip Partington of Pensacola-based SMB Architecture has been selected as the architect, Birmingham, Ala.-based Robins and Morton has been selected as the general contractor, and Justin Beck of Pensacola-based Beck Property Co. has been chosen to market the five outparcels. Airport and 12th will open in March 2013.
WASHINGTON, D.C. — A joint venture between Wellington, Fla.-based The Bainbridge Cos., Greenwich, Conn.-based Starwood Capital and a major institutional investor has purchased the seven community, 1,626-unit portfolio of multifamily properties in Virginia and Maryland. The properties include: the 190-unit Amberton Apartments in Manassas, Va.; the 252-unit The Reserve at Regency Park Apartments in Centreville, Va.; the 228-unit Westfield Village Apartments in Centreville; the 216-unit Saddle Ridge Apartments in Ashburn, Va.; the 290-unit The Reserve at Towne Center Apartments in Potomac Falls, Va., the 252-unit Woodside Apartments in Lorton, Va.; and the 198-unit Clary's Crossing Apartments in Columbia, Md. The undisclosed seller was represented by Scott Melnick and Al Cissel of Jones Lang LaSalle's Bethesda, Md., office and Christine Espenshade of the firm's Baltimore office.
JACKSONVILLE, FLA. — Tampa, Fla.-based DeBartolo Development has purchased the note to the Holiday Inn Express and Suites located at 10148 New Berlin Rd. in Jacksonville directly from an undisclosed bank for a 29 percent discount to the current debt. The 90-unit hotel contains an outdoor pool, fitness center, a 2,000-square-foot meeting room and an atrium/breakfast room.
ORLANDO, FLA. — Denver-based DCT Industrial Trust has acquired a 50,000-square-foot, Class A distribution center in Orlando for $3 million. The building is 100 percent leased to a single tenant. John Frederick with Orlando-based Realty Capital represented the seller. The buyer was not represented.
FORT LAUDERDALE, FLA. — Indiana-based United Investment Group purchased a 24,000-square-foot warehouse in Fort Lauderdale for $2.12 million. The building contains 5,000 square feet of high-end office space and outside storage. There is also a cell tower on the property. The buyer was represented by Koreena Rivers of Fort Lauderdale-based Morris Southeast Group/CORFAC International. The seller, Gra-Mar Realty, was represented by Bruce Nathanson of Keyes Realty's Plantation, Fla., office.
CHANTILLY, VA. — Chantilly BioPharma signed a 10-year lease for 79,776 square feet at Avion Flex Tech I & II, located at 3701 and 3725 Concorde Pkwy. in Chantilly. Avion Flex Tech I & II are within the 188-acre Avion Business Park, a business campus containing 19 buildings. Tom Cresce and Chris Lucey of Cassidy Turley's Vienna, Va., office handled the leasing.
FORT LAUDERDALE, FLA. — Fort Lauderdale-based Dodmi purchased a 9,000-square-foot, single-tenant medical office building, located at 2540 N.E. 9th St. in Fort Lauderdale, for $1.92 million. The seller was Fort Lauderdale-based Leela Holdings. Ken Morris of Fort Lauderdale-based Morris Southeast Group/CORFAC International was the sole broker in the transaction.
TAMPA, FLA. — The 244-unit Palm Grove Apartments, located at 5039 Chalet Ct. in Tampa, has sold for $5.55 million, or $22,746 per unit. The seller, C-III (a CMBS special servicing company), and the undisclosed buyer were represented by Darron Kattan, Bob Goldfinger and Kevin Kelleher of Franklin Street Real Estate Service's Tampa office.