FORT MYERS, FLA. — Florida-based Debary Hospitality has purchased a 50-room Econo Lodge in Fort Myers from Fidelity Bank for an undisclosed amount. The property was sold 3 weeks after Fidelity purchased the asset in the foreclosure process. Ken Olipra of Greene, Canfield, De George brokered the sale.
SOMERSET, KY. — Dunham’s Sports has signed a 44,895-square-foot lease with an undisclosed landlord for space in the Grand Central Place shopping center. The property, located on U.S. Highway 27 in Somerset, houses Kroger and Peebles. Paul Ray Smith and Jim Kemper of NAI Isaac Commercial Properties represented the landlord in the transaction.
OCALA, FLA. — Edwards Construction Services of Ocala is looking to a January completion of the Ocala International Airport Air Traffic Control Tower in Ocala. The eight-floor property will include offices, mechanical and electrical rooms, a break room and a control cab. The tower is still awaiting approval by the Federal Aviation Authority and Congress.
ORLANDO, FLA. — Construct Two Group will soon break ground on the 100,000-square-foot Old Cheney/North Forsyth Area Elementary School on a 14-acre parcel on Curtis Street in Orlando. The $14.2 million project, which was designed by Orlando-based Schenkel Shultz Architects, will include administration offices, classrooms, a kitchen and a multi-purpose room. Delivery is expected next June.
DULUTH, GA. — In a complex office leasing transaction, Rockwell Collins Satellite Communications Systems and Stiefel Labs have moved into each other’s Atlanta buildings, acquiring the office furnishings and the personalized build outs associated with each property. Rockwell Collins has leased a total of 175,000 square feet from Seefried Properties and FRAPAG. The property, located at the Northmont Distribution Center on Northmont Parkway in Duluth, had previously been occupied by Stiefel. The move served to consolidate Rockwell’s four locations into one building. Stiefel has leased 71,000 square feet of warehouse space, formerly occupied by Rockwell Collins, from StratREAL at the firm’s Satellite Place in Duluth. Bob Ward, Price Weaver, Pete Shelton and Ben Logue of Colliers Spectrum Cauble represented Rockwell Collins in the transaction. Douglas Campbell of The Campbell Group and Rob Metcalf and Nicole Janney of Jones Lang LaSalle represented Stiefel.
WEST PALM BEACH, FLA. — Palmetto Hospitality of West Palm Beach has opened the 114-unit Homewood Suites by Hilton West Palm Beach at 2455 Metrocentre Blvd. in West Palm Beach. Amenities include an executive business center, 600 square feet of meeting space, a swimming pool, a putting green and a BBQ area. OTO Development will manage the property.
GASTONIA, S.C. — Bill Matone of NorthMarq Capital’s Charlotte, N.C., office has secured a $3.06 million loan for the 102-unit Carriage House Apartments. The property is located in Gastonia. Freddie Mac financed the 10-year loan, which carries a 30-year amortization.
LAWRENCEVILLE AND DECATUR, GA. — Cushman & Wakefield has brokered the sale of two Atlanta-area apartment complexes for $43.5 million. B&M Management purchased the 586-unit Madison at River Sound from an undisclosed seller for $39 million. The property, which is 93 percent occupied, is located at 980 Walther Blvd. in Lawrenceville. Southwood Real Estate purchased the 254-unit Covington Glen from Freddie Mac for $4.5 million. Located at 5816 Covington Highway in Decatur, the property is 70 percent occupied. Chris Span, David Gutting, Larry Orr and Nathan Swenson of Cushman’s Atlanta office represented the buyers and sellers.
TAMPA, FLA. — Northview Realty Group has acquired the 280-unit Lofton Place apartment complex from an undisclosed seller for $16 million. The 17-acre property, which is located at 5412 Deerbrook Creek Circle in Tampa, is 97 percent occupied. Features include a swimming pool, a spa and a fitness center. ARA Finance funded 75 percent of the transaction with a 10-year loan at a 5.66 percent interest rate. Kevin Judd of Apartment Realty Advisors’ Orlando, Fla., office, Dick Donnellan of the firm’s Boca Raton, Fla., office and Patrick Dufour of the firm’s Tampa office represented the seller.
BOCA RATON, FLA. — Boca Raton-based Fimiani Development has been tapped as receiver of the 6,065-square-foot Yamato Plaza. The property is located adjacent to a Lifetime Fitness and a Hampton Inn on Yamato Road in Boca Raton. This assignment is the company’s first foray into receivership services.