SANFORD, FLA. — Sanford-based Spolski Construction is beginning work on a $5 million airplane hangar project for the Sanford Airport Authority. The 53,351-square-foot development, located at 2551 Hellcat Lane in Sanford, will include offices, 44,000 square feet of hangar space and 4,000 square feet of maintenance space. The facility, which will be leased to Avocet Capital under a 20-year agreement, is expected to deliver in January.
SUMMERFIELD, FLA. — Edwards Construction Services has broken ground on an 18,000-square-foot Trinity Lutheran Church in Summerfield. The property will feature a sanctuary and additional areas for classrooms and choir space. Delivery is slated for December.
ORANGE PARK, FLA. — Trigild Inc., acting as a receiver, has traded the 232-unit Blanding Place Apartments to a Canada-based purchaser for $51,724 per unit. Located on Burwick Road in Orange Park, the 24-year-old property is spread across 19 acres. The buyer assumed the restructured CMBS loan provided by the special servicer, Midland Loan Services. Steve Lear and Bart Walchle of Walchle Lear Multifamily Advisors brokered the sale of the property, which is 81 percent occupied.
DUNCAN, S.C. — ResMed has signed a 174,000-square-foot industrial lease with Piedmont Office Realty Trust in Duncan. The warehouse is located at 110 Hidden Lake Circle. Brian Young and John Scott of CB Richard Ellis|The Furman Company, along with Piedmont Office Realty Trust's Alex Valente, represented the landlord. Cushman & Wakefield's Joe Smith and NAI Earle Furman's Dave Reeves represented ResMed.
HIALEAH, FLA. — Marcus & Millichap has brokered the $6.7 million sale of the Navarro Hialeah Plaza between two private parties. The 35,560-square-foot shopping center, which is anchored by Navarro Discount Pharmacy, is located at 3141 W. 76th St. in Hialeah. Drew Kristol and Kirk Olson of Marcus & Millichap's Miami office brokered the sale.
ATLANTA — Charlotte-based Ferncroft Capital has purchased the 6,000-square-foot 9 Concourse Parkway from The Landmarks Group Properties Corporation for an undisclosed amount. The property, located on Hammond Drive in Atlanta, is a single-tenant outparcel to the 2.1-million-square-foot Concourse Office Park. Terms of the broker-less transaction were not disclosed.
MYRTLE BEACH, S.C. — Choate Construction will soon break ground on a 30,000-square-foot WonderWorks museum in Myrtle Beach. Construction of the upside down, slightly tilted building will include demolition of the existing structure. Goodwyn, Mills and Cawood Inc. designed the property, which will house more than 100 interactive exhibits.
TOWSON, MD. — The Mullan Contracting Co. is working toward a late summer/early fall completion of a fourth-floor renovation at the Baltimore County Courts Building. The property is located at 401 Bosley Ave. in Towson. Rubeling & Associates designed the 20,700-square-foot project, which includes four new hearing rooms, three courtrooms, judges' chambers, office space and holding cells.
MIAMI — FedEx Express Latin America-Caribbean has singed a 59,925-square-foot lease renewal with an undisclosed landlord in Miami. The property is located at 701 Waterford Way. Charles V. Barton of CresaPartners represented the tenant in the 6-year lease. The Hogan Group's Steve Smith represented the landlord.
The Jackson office market remains strong, with occupancy rates of 81 percent and average rental rates of $19 per square foot. As the state capital, government is the driving force for local real estate, and recently, the public sector has been working with private developers to establish partnerships. With more than $600 million in private and public development during the last couple of years in the CBD, companies are intrigued by downtown’s revitalization. The King Edward restoration by HRI Properties, Watkins Partners and Deuce McAllister is an example of where local government property was transformed into a new 186-room Hilton Garden Inn combined with 64 newly leased apartments. Fondren Place is another public/private partnership where Peters Real Estate and The Mattiace Company partnered with Jackson Public Schools to convert a former school to boutique shops, restaurant space and a new 37,500-square-foot office building with retail space. The construction of the Jackson Convention Complex has spurred hotel development to support Jackson’s first convention center with the nearly completed Sleep Inn and the newly renovated Clarion Hotel Roberts Walthall. Eley Guild Hardy Architects fell in love with a Neo-Classical Revival-style former bank and is transforming it into a LEED-certified building for its …