JACKSONVILLE, FLA. — Jax BTS#1, principals of which include Beechwood Partners and an affiliate of Weeks – Robinson, is developing a 240,000-square-foot distribution center. The property, which will be complete this summer, is located on 12 acres in Jacksonville's Westlake Industrial Park. PenserSC will occupy the building. Cushman & Wakefield of Florida's Mark Scott, Tyler Newman and Jim Patrick represented Beechwood Partners in the lease transaction. An item that ran on a sale transaction of this property in yesterday's newsletter was inaccurate due to errant information provided by Cushman & Wakefield of Florida. The property is under development and has not been sold.
ORMOND BEACH, FLA. — Century Retail has finished a 45,600-square-foot Publix and 20,000 square feet of retail space at Ormond Beach Mall. The property is located on Ocean Shore Drive in Ormond Beach. The two-phase project commenced in April 2009, and Publix will open on March 12.
WASHINGTON, D.C. — Washington-based Braxton Hotel & Condominium has sold the 58-room District Hotel to Cherry Blossom Hospitality for $8.4 million. The seller had converted the property, which is located at 1440 Rhode Island Ave. NW in Washington, from a 1920s-era, 86-room boarding house to a boutique hotel. Cherry Blossom Hospitality plans to add four stories to the original property and build an additional eight-story building. Donohoe Corfac International brokered the sale.
ORLANDO, FLA. — Tom McFadden and William Bradford of Southern Commercial Real Estate Advisors have brokered two industrial leases in Florida. McFadden and Bradford represented the landlord, RREEF, in its 18,975-square-foot lease to Iberia Foods Corp. The tenant will occupy the space, which is located at 7580 Exchange Drive in Orlando, for the next 7 years. The Southern Commercial team also represented McDonald Ventures XXVI in its 6,100-square-foot lease to Atlantic Fasteners and Supply Co. The property is located at 3830 Enterprise Way in Sanford. Atlantic Fasteners will lease the space for the next 8 years.
ATLANTA — Grubb & Ellis has promoted Brett Hunsaker to executive vice president and managing director in the firm's Atlanta office. Hunsaker, a past president of the Atlanta Commercial Board of Realtors, joined Grubb & Ellis in 2008 as executive vice president. With the promotion, he is now in charge of the company's Atlanta-area operations.
ST. PETERSBURG, FLA. — DDC Logistic Services has purchased a 131,800-square-foot warehouse from Hunter Douglas Fabrication for $7.15 million. The property is located at 3001 Gateway Centre Parkway in St. Petersburg. Vector Commercial Real Estate Services' Ned Willis represented the buyer. Paula Smith of Osprey Real Estate Services represented Hunter Douglas Fabrication.
HOOVER, ALA. — Walker & Dunlop has secured a $6.28 million loan for the 160-unit Alpine Village Apartments. The Hoover property is 93.1 percent leased and includes a pool, a fitness center and tennis courts. The 10-year loan carries a 1.25x debt-service coverage ratio and a 30-year amortization.
ATLANTA — Duke Realty Corp. has brokered three leases, backfilling nearly 48,000 square feet of recently vacated space at the company's Huntcrest III office property in Atlanta. Brightree LLL has leased 27,505 square feet, and Curriculum Advantage, represented by Piedmont Property Co.'s Bruce May, has leased 13,764 square feet. Tom Davenport and Tom Cooksey of Lavista Associates represented HealthCare Partners in its lease of 6,413 square feet. The vacant space was created when BioLab reduced its occupancy in Huntcrest III from 89,000 square feet to 27,450 square feet.
MIAMI BEACH, FLA. — SIKON Construction of Deerfield Beach, Fla., has broken ground on an 84,000-square-foot grocery project at 1800 West Ave. in Miami Beach. The property was designed by api(+) Architects. The property includes a 28,000-square-foot The Fresh Market store with a two-story parking deck on top. Delivery is expected during the fourth quarter.
TAMPA, FLA. — FL-4 Carlsbad has sold the 132-unit Valencia Village Apartments to an undisclosed LLC based in Corpus Christi, Texas, for $1.93 million. The property is located at 13408 Grand Prix Way in Tampa. Evan Kristol, Still Hunter, III, and Francesco Carriera of Marcus & Millichap represented both parties in the transaction.