MCCALLA, ALA. — DLC Management Corp. has purchased the 95,092-square-foot The Shoppes at Letson Farms from Centro Properties Group for $12.67 million. The property is located on 15.8 acres at 4750 Eastern Valley Rd. in McCalla. The center is 95 percent occupied by Food World, Movie Gallery, H&R Block, Subway and Curves. Whitney Knoll of Holliday Fenoglio Fowler’s Atlanta office and Brad Peterson and Justin Greider of the firm’s Coral Gables, Fla., office represented the seller.
Southeast
CHARLOTTE, N.C. — Burkert Contromatics Corp. of Germany has leased 38,500 square feet in the Whitehall Tech Center from FORT Properties. The lease, which expires in 2014, expands Burkert’s current warehouse space by 22,500 square feet. The 204,900-square-foot center consists of two fully leased buildings located on Whitehall Park Drive in Charlotte. Bill Wood of Charlotte-based Trinity Partners Industrial Property Services represented the owner along with FORT Properties’ Robert Alter. Trinity’s Terry Brennan represented the lessee.
FLORIDA — Palm Beach Gardens, Fla.-based Reichel Realty & Investments will manage and lease four Florida shopping centers owned by The Brown Trust of New York and California. Anchors at the centers, which total more than 560,000 square feet, include Winn Dixie, Publix, Blockbuster and Family Dollar. The properties are the 145,000-square-foot Forest Hill Center, located at 3139 Forest Hill Blvd. in West Palm Beach; the 165,000-square-foot Nassau Square, located at 7667 Lake Worth Rd. in West Palm Beach; the 142,000-square-foot Sandalfoot Plaza, located at 23100 Sandalfoot Plaza Dr. in Boca Raton, Fla.; and the 110,000-square-foot Oakbrook Square, located at 2602 N.E. 14th St. in Ocala, Fla.
ATLANTA — J.M. Smucker Co., a food marketer and manufacturer based in Orrville, Ohio, has signed a lease with DCT Industrial Trust to fully occupy the company’s 557,000-square-foot Southcreek IV bulk industrial manufacturing building. The warehouse, located in Atlanta’s airport submarket, is part of the 1.8 million-square-foot Southcreek Commerce Center. The center’s location provides access to major highways and Hartsfield-Jackson Atlanta International Airport. With the Smucker transaction and DCT’s recent lease of 200,000 square feet to Toledo, Ohio-based Owens Corning Insulating Systems, the Southeast Commerce Center is now 100-percent occupied. In prepared comments, Todd Carter, vice president and regional director of leasing for DCT, said the Smucker lease further validates the property “as a strategic distribution center.” The warehouse will serve as the point place for Smucker’s Southeast operations. The company’s next closest manufacturing warehouse is located in Memphis, Tenn. Lynn Reich of Colliers International’s Rosemont, Ill., office and Mike Spears and Sean Boswell of the firm’s Atlanta office represented Smucker in the transaction. Atlanta-based NAI Brannen Goddard’s Brad Pope and Mike Chambers represented the owner. DCT Industrial currently owns and manages 7.3 million square feet
TAMPA, FLA. — Orlando, Fla.-based Eola Capital has acquired a 130,000-square-foot office building from an undisclosed seller for an undisclosed price. The property is located at 500 N. Westshore Boulevard in Tampa and is 90 percent leased. Christian Lee of CB Richard Ellis’ Miami office and Dale Peterson and Ginger Gelsheimer of the firm’s Tampa office brokered the sale.
SHREVEPORT, LA. — The 123-unit Homewood Suites by Hilton ¬– Shreveport has opened at 5485 Financial Plaza in Shreveport, marking the first Homewood Suites in Northern Louisiana. Hotel amenities include a hospitality center that offers complimentary snacks, a business center, a pool and 2,046 square feet of meeting space. The extended-stay hotel is managed by Natchitoches, La.-based Dimension Development.
RALEIGH, N.C. — PPPV has sold an 18,300-square-foot office building to 5560 Munford Partners for more than $2.3 million. The building, which will be used by the non-profit group Telamon, is located at 5560 Munford Rd. in Raleigh. Stewart Patch of Raleigh-based Coldwell Banker Commercial TradeMark Properties represented the seller. Kyle Greer of Raleigh-based NAI Carolantic Realty represented the buyer.
NORFOLK, VA. — CB Richard Ellis has represented an undisclosed owner in Norandex Building Materials Distributions’ 44,000-square-foot lease renewal at the Progress Road Industrial Building. Norandex has leased space in the 66,000-square-foot industrial building for 21 years. The property is located in the Norfolk Industrial Park in Norfolk. R. Worth Remick of CB Richard Ellis’ Norfolk office represented the landlord.
WASHINGTON, D.C. — January retail sales increased slightly over the previous month, according to the National Retail Federation (NRF). Retail industry sales for January increased 0.5 percent seasonally adjusted from last month and decreased 2.1 percent unadjusted year-over-year. Additionally, U.S. Commerce Department totals show retail sales increased 1 percent seasonally adjusted from December but decreased 9.0 percent unadjusted year-over-year. “While 2009 got off to a surprising start, it’s going to be difficult for retailers to maintain this momentum,” says Rosalind Wells, chief economist with NRF. “We expect the first half of the year to present challenges while giving way to sustained growth in the fourth quarter.” Electronic and appliance stores sales increased 2.6 percent seasonally adjusted from last month but decreased 7.4 percent unadjusted year-over-year. Sales at clothing and clothing accessories stores increased 1.6 percent seasonally adjusted from December and decreased 8 percent unadjusted over last January.
OXFORD, MISS. — The Place/BV Student Housing Fund, managed by BVP Managers, is developing the 366-bed Lafayette Place student housing complex. The project is part of a two-property development worth $48 million. Located near the University of Mississippi campus in Oxford, the property features furnished apartments with washers and dryers. Complex amenities include a clubhouse, a computer lab, a fitness center and a pool. Lafayette Place is slated for a summer 2009 opening.