TAMPA, FLA. — RREEF has sold the 260,000-square-foot Hampton Oaks Business Park to Foundation Realty Advisors for $18.4 million. The Tampa industrial and office property is 95 percent leased to tenants including XO Communications and Direct Administration. Cushman & Wakefield represented the seller. Foundation Realty Advisors represented itself in the transaction.
MIAMI —Turnberry Associates has sold Biscayne Retail, a 75,000-square-foot shopping center, to DEER Capital for $15.25 million. The Miami property is anchored by Borders Books. Aztec Group brokered the sale and arranged $7.87 million in acquisition financing for the buyer.
SANFORD, FLA. — Spolski Construction Co. will break ground this spring on a 53,351-square-foot maintenance facility at the Orlando Sanford International Airport for Avocet Capital. The property is located at 2551 Hellcat Lane in Sanford. The project will encompass 44,000 square feet of hanger space, 4,000 square feet of maintenance space and 5,351 square feet for offices.
LARGO, FLA. — ProPeke Power has purchased the 55,735-square-foot former Clearwater Mattress warehouse from a private seller for $1.25 million. The property, which is located at 1185 Gooden Crossing Road in Largo, sits on 2.51 acres of land. The Ross Realty Group's Elliott Ross and Dennis Bush represented the seller.
POMPANO BEACH, FLA. — Carrier Enterprise has signed a 68,000-square-foot lease with Park Central Industrial for Pompano Beach warehouse space. The property is located at 3760 Park Central Blvd. CB Richard Ellis' Travis Sapaugh, Seth Kelly and Tony Hoover represented the tenant.
WEST PALM BEACH, FLA. — New York-based Related Cos. has been selected to develop the 400-room Palm Beach County Convention Center Hotel, which will carry a Hilton brand, in West Palm Beach. The firm will take on the project with assistance from Hilton Worldwide, Coastal Construction, Catafulmo Construction and architect Nichols Brosch Wurst Wolfe & Associates. Related's project will generate 360 construction jobs and 300 permanent jobs. The next steps in the process are contract and financing negotiations, which will take 4 to 6 months.
FREDERICK, MD. — Sinclair Real Estate has received site plan approval of its Sinclair Way mixed-use project in Frederick's Historic Preservation District. The project will include 26,000 square feet of office space, 12 townhouse units and retail space. Zavos Architects is designing the space.
MIAMI — Marcus & Millichap has brokered the $4.45 million sale of the 21,868-square-foot Bird 74 Shopping Center in Miami. Located at 7378 SW 40th St., the property houses IHOP, a day care center and a gym. Drew Kristol and Kirk Olson of Marcus & Millichap brokered the sale.
ARBUTUS, MD. — Olson Wire Products has purchased a 47,388-square-foot industrial building from the trustee for Barton-Cotton Real Estate for $1.57 million. The property is located at 1301 Constance Ave. in Arbutus. Michael Spedden of Preston Partners brokered the transaction.
RICHMOND, VA. — MeadWestvaco has obtained $68.4 million in financing for its 311,000-square-foot build-to-suit headquarters. The property is located at Foundry Park in Richmond. The 5-year, fixed-rate loan carries a 15-year amortization. Geoff McVeigh of Berkadia Commercial Mortgage's Richmond office arranged the loan, which was funded by Deutsche PostBank AG through PB Capital Corp.
