TAMPA, FLA. — The auto parts distributor Unique Industry Corp. has signed a lease renewal with Duke Realty for 35,540 square feet in its Fairfield IV warehouse in the Fairfield Distribution Center. The nine-building, 999,142-square-foot center is located on Elm Fair Boulevard in Tampa. Unique has resided in the property since November 2003. UGL Equis’ Todd Brandon represented the tenants, and Tim Hain served as in-house representation for Duke Realty.
Southeast
SANFORD, FLA. — A joint venture between Canadian and Florida-based investors has borrowed a $14.05 million loan for the 356-unit Stonebrook Apartment Homes. The apartment complex, which was completed in 2001, is located at 1000 Stonebrook Dr. in Sanford. The 10-year Freddie Mac loan carries a 5.62 percent fixed interest rate and a 30-year amortization. Dennis Jimenez of CB Richard Ellis’ Orlando office secured the loan.
ROCKVILLE, MD. — Aeras Global TB Vaccine Foundation has completed a 9,000-square-foot tuberculosis vaccine manufacturing facility at its headquarters at 1405 Research Blvd. in Rockville. The multi-million dollar, BioSafety Level 2 facility will be able to produce 200 million doses of tuberculosis vaccine. By producing the vaccine at its own facility, Aeras will help reduce the cost of the new drug.
FORT LAUDERDALE, FLA. — A local LLC has sold a 22-unit Fort Lauderdale apartment portfolio to a local private investor for $858,000. The three-property sale included eight units at 800 N.W. 3rd Ave., eight units at 424 N.W. 14th Terrace and six units at 805 N.W. 2nd Ave. Jason Yukins of Marcus & Millichap’s Fort Lauderdale office represented the seller.
ORLANDO, FLA. — Siemens Shared Services has leased 29,500 square feet of space in University Corporate Center III, located in the Quadrangle Business Park at 11474 Corporate Blvd. in Orlando. Greg Morrison and Emily Zinaich of Orlando-based Morrison Commercial Real Estate represented the landlord, and The Princeton Group’s Lee Orisi represented Siemens. This is the third lease Morrison Commercial has executed at University Corporate Center III in the past 90 days. The property is currently 94 percent leased.
LOUISVILLE, KY. — Louisville-based Kindred Healthcare will purchase six nursing centers it currently leases from the healthcare REIT Ventas for $55.7 million. The properties are all under-performing assets that Kindred will eventually sell, generating an expected $10 million to $15 million. In addition, Kindred will extended its leases for 87 Ventas-owned nursing centers and 22 of the firm’s long-term acute care hospitals by 5 years.
CHESAPEAKE, VA. — Affiliates of Allen Management have sold a 52-room Econo Lodge to Chesapeake-based Sita Properties for an undisclosed amount. The property is located at 2222 S. Military Highway in Chesapeake. Sita plans to renovate the property and rebrand it as a Motel 6. David Mumford of the Newport News, Va.-based Mumford Co. brokered the sale.
MIAMI BEACH, FLA. — A private investor from Miami has sold a 12-unit apartment complex to a Surfside, Fla.-based investor for $775,000. The property is located at 7700 Abbott Ave. in Miami Beach. Eight one-bedroom units and four studio apartments are housed in the complex. Lawrence Usher of Marcus & Millichap’s Miami office represented both parties in the transaction.
KENDALL, FLA. — Loehmann’s will open a 25,699-square-foot store next spring in Kendall’s The Palms at Town & Country development. Located at 8268 Mills Dr., the shopping center will span 400,000 square feet when completed. The property is being developed by Coral Gables, Fla.-based Flagler Development Group in phases, with the first 153,563 square feet of space set for completion this fall. Karen Sanzo and Mauro Olivieri of Jones Lang LaSalle represented the tenant in the lease.
The University of Alabama at Birmingham continues to be the most powerful and stable economic engine in North Central Alabama. The university offers the community high-paying jobs as both faculty and staff employees and an affordable and beneficial educational opportunity, while drawing patients and visitors to its world-class medical center from throughout the region, and in many instances, from all over the globe. Approximately 12 years ago, Alabama embarked on a program to entice automotive manufacturers to the state. That program paid off first with Mercedes, then with Honda and Hyundai, which are all located in central Alabama. Birmingham is at the center of this automotive triangle. With tens of thousands of jobs associated with the industry, Birmingham has been able to continue its manufacturing tradition with higher pay than the old iron and steel jobs of the city’s past. Despite the pressure on the automotive sector from the current economic downturn, Alabama-based manufacturers appear well-positioned to weather the storm and return to profitability. That bodes well for Birmingham, and that bodes well for Birmingham’s retail. On February 5, 2009, Birmingham-based Bruno’s Supermarkets declared Chapter 11 Bankruptcy. Locally, the move surprised no one, but it did bring finality to the …