NAPLES, FLA. — Carlisle/Wilson Plaza LLC has purchased the 36,000-square-foot Wilson Plaza shopping center from Gulfstream Retail Investments for $6.5 million. The property is located at 50 Wilson Blvd. in Naples. Larry Foster and Bill Young of CB Richard Ellis' Naples office brokered the transaction.
Southeast
VIRGINIA BEACH, VA. — Restaurant Depot has purchased an 89,000-square-foot building formerly occupied by Value City Department Store for $6 million. The property, which is located at 5112 Virginia Beach Blvd. in Virginia Beach, will serve as a new Restaurant Depot location when the tenant moves in during the third quarter of next year. The company will invest $3 million in the property and hire 38 employees. Restaurant Depot will open five additional stores throughout the country next year.
COLUMBIA, S.C. — RCG-Northway has sold the 79,413-square-foot North Columbia Square shopping center to CRP II North Columbia Square for $4.6 million. Located at 5110 Fairfield Road in Columbia, the Food Lion-anchored property is 95 percent occupied. Additional center tenants include Rent-A-Center, Family Dollar, Rainbow Fashions and Shoe Time. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller.
MIAMI BEACH, FLA. — Ram Realty Services has purchased the nine-building Fairway Village apartment complex on behalf of an entity of Ram Realty Partners II from a private seller for an undisclosed price. The property is located on Alton Road between 19th Street and Michigan Avenue in Miami Beach. The buyer will upgrade the property and divide it into 117 rental apartments. Ram was represented in-house during the transaction.
DELRAY BEACH, FLA. — SIKON Construction of Deerfield Beach, Fla., will soon start work on a 13,800-square-foot distribution center for Blue Bell Creameries. The property will be located at the interchange of West Atlantic Avenue and U.S. 441 in Delray Beach. Birmingham, Ala.-based Gresham, Smith and Partners designed the facility. Delivery is expected at the end of 2010.
MYRTLE BEACH, FLA. — Greenville, S.C.-based RealtyLink has brokered the $2.23 million sale of an 8,142-square-foot Bridgestone tire store between two private companies. The building, which was completed in February, is located 5 miles from the Myrtle Beach International Airport in Myrtle Beach. The tenant's 15-year lease carries 10 percent rent increases every 5 years.
MAUMELLE, ARK. — Marcus & Millichap has brokered the sale of a 1,750-square-foot Starbucks between two private investors for $1.11 million. The tenant has leased the space, which is located at 105 Commons Drive in Maumelle, through 2017. Gino Lollio, William Bennett and Andy Gallas of Marcus & Millichap's Chicago office represented the seller. Peter James of the firm's Los Angeles office represented the buyer. Clarence Cropper of the Montgomery, Ala., office also assisted in the deal.
KISSIMMEE, FLA. — A private party has purchased the 185-unit Legacy Parc apartment complex from a lender that foreclosed on the property earlier this year. The 20-year-old property is located at 1880 Destiny Blvd. in Kissimmee. Legacy Parc last changed hands in 2005, when it was purchased for conversion into condominiums. Shelton Granade and Luke Wickham of CB Richard Ellis' Orlando, Fla., office represented the seller.
DOTHAN, ALA. — Aronov Realty Management of Montgomery, Ala., has started the development of Cottonwood Corners, a 63,000-square-foot shopping center anchored by a 45,600-square-foot Publix. The Dothan property will help generate approximately 200 jobs. Delivery is expected next fall.
OAKLAND PARK, FLA. — Valco Exchange has sold a 35,800-square-foot industrial building to Twelve Terrace for $1.89 million. The property is located at 4201 N.E. 12th Terrace in Oakland Park. The buyer will use the space for its window and door manufacturing operations. Randy Rauch of Fort Lauderdale, Fla.-based NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller.