NORTH PORT, FLA. — Patriot Self-Storage and Passco Companies Development are opening two Class A self-storage facilities in North Port. The three-story, climate-controlled properties are located at 2245 Bobcat Trail Center Rd. and 6029 Talon Bay Dr. The companies acquired the two development parcels for approximately $7 million and began construction on the combined 200,000-square-foot facilities in June 2008.
RINCON, GA. — The Southeast regional office of Rosemont, Ill.-based McShane Construction Co. has completed Continental Properties Co.’s 352-unit The Springs at Effingham apartment complex. The 430,000-square-foot property spans 32 acres at 617 Towne Park West Dr. in Rincon. Complex amenities include a pool and a clubhouse with a business center, conference facility, kitchen and multi-purpose room. MSA Architects designed the property, which encompasses 22 16-unit buildings.
RICHMOND, VA. — Paige Properties has sold the 35,439-square-foot Warwick Commerce Center to Mason Place for $1.98 million. The industrial property is located at 6705 – 6707 Warwick Rd. in Richmond. R. Scott Douglas and Gregg W. Beck of Thalhimer’s Richmond office brokered the sale.
ORLANDO, FLA. — Kauffman Tire has signed a 50,400-square-foot, 2-year lease extension for space in the Presidents V Building. The warehouse is located at 7482 Presidents Dr. in Orlando. Anne Huntington of CB Richard Ellis’ Dallas office and David Murphy of the firm’s Orlando office represented the tenant. Erik W. Schwetje of CB Richard Ellis’ Orlando office represented the landlord.
NORFOLK, VA. — Jonathan Properties has purchased a 16,000-square-foot warehouse from two private sellers for $955,000. The property is located at 2618 Arkansas Ave. and 2619 Wyoming Ave. in Norfolk. Jonathan Properties acquired the warehouse as an investment. Thomas W. Dana and Rik King, II, of Thalhimer’s Virginia Beach, Va., office brokered the sale.
JESSUP, MD. — Vienna, Va.-based Feld Entertainment has leased 74,430 square feet of space and renewed its lease of 142,098 square feet in two Jessup warehouses. The firm, which produces entertainment such as Disney on Ice and Disney Live!, now occupies 8230 and 8241 Sandy Court. The two properties will house Feld’s distribution and merchandise storage operations. Paul Schweitzer and Stuart Diamond of Studley’s McLean, Va., office represented the tenant in the transaction.
ALEXANDRIA, LA. — An 18,000-square-foot Staples will open its doors at Stirling Properties’ 190,000-square-foot MacArthur Village shopping center April 24. The project marks the last phase of renovations to the center, which is located at 1400 MacArthur Dr. in Alexandria. The shopping center, which was built in the 1950s, is anchored by a 66,612-square-foot Kroger and a 25,000-square-foot Hastings Entertainment. Additional tenants include Capital One Commercial Banking, Ci Ci’s Pizza, Coldwell Banker, Sally Beauty Supply and Picadilly.
TUPELO, MISS. — John Segrest of Charlotte, N.C.-based Grandbridge Real Estate Capital’s Birmingham, Ala., office has secured a $3 million fixed-rate, non-recourse loan for the 112-unit Feemstaer Lake Apartments. The property stands on 7.3 acres near the University of Mississippi in Tupelo. The 19-year-old property is 96 percent occupied. Fannie Mae’s ERL program provided financing for the 10-year loan. The loan carries an interest rate in the mid-6 percent and a 30-year amortization.
GAINESVILLE, FLA. — Fit For Life Physical Therapy has purchased a 4,672-square-foot office suite in Orlando from the parent company of Florida Citizens Bank for an undisclosed amount. The property is at 3919 Newberry Rd. in Gainesville and also houses a branch of Florida Citizens Bank. Gainesville-based AMJ represented the owner, and Howard Freeman of Gainesville-based Freeman Realty represented the tenant.
DAWSONVILLE, GA. — Zoning has been approved for the Atlanta Motorsports Park, a racing country club located in Dawsonville. The project, which will be built with sustainable materials, will include a lounge, a 10,000-square-foot clubhouse, a workout facility, a pool and 3 miles of road course. The courses feature 4,000 feet of straight-away space and can be configured 15 different ways. Tilke Architects will design the property and race tracks and RK Redding Construction will serve as the general contractor.