MIRAMAR, FLA. — CB Richard Ellis has arranged the sale of the Shoppes at Monarch Lakes, a 64,020-square-foot shopping center in Miramar, for $8.285 million for $129.41 per square foot. Anchored by a 51,420-square-foot Publix, the center, located at 14305 Miramar Parkway, is 100 percent leased with tenants including Dunkin’ Donuts, Subway and UPS Store. The CBRE Florida National Retail Investment Group represented the Chicago-based seller, a fund advised by Prudential Real Estate Investors. Belt & Associates Inc., a related entity of DBR & Associates and Rubin Real Estate Group, represented the buyer, foreign investment group Dizengoff Real Estate.
Southeast
GREENVILLE, S.C. AND JENSEN BEACH, FLA. — Palm Beach Gardens, Fla.-based Reichel Realty & Investments has completed two retail transactions totaling more than $2.5 million. The firm represented the seller, Southport Mortgage, in the sale of Howell Ridge Shopping Center in Greenville for $2 million. The 20,000-square-foot retail center includes four outparcels and tenants including McDonald’s. Reichel Realty & Investments also closed on the sale of a freestanding former Wendy’s restaurant location in Jensen Beach, with the firm representing the seller, Square Treasure Foods Inc. Located on US Highway 1, the property sold for $545,000.
PLANT CITY, FLA. — Ovation Properites has purchased City Crossings, an approximately 18,849-square-foot specialty shopping center in Plant City, from Buckley Properties for $4.85 million. Located on James L. Redman Parkway, the property is anchored by Panera Bread and houses other tenants such as Mattress Giant and Verizon Wireless. The transaction was brokered by Mike Milano and Cynthia Shelton, both of Colliers Arnold.
ORLANDO, FLA. — Orlando-based Smith Equities Real Estate Investment Advisors has arranged the sale of the 7200 Building, an office building in Orlando Central Park in Orlando. Smith Equities represented the seller, Orlando Central Park Tarragon II. The buyer, JCQ Investments, purchased the property for $2.8 million. The office building was 64 percent vacant at the time of sale and was sold out of bankruptcy court. Since gaining ownership, JCQ Investments has begun to upgrade the building with a new security alarm system, security cameras and plans to revitalize the building’s common areas. The company has also signed leases with tenants Time Share Networking, Brand Energy and Time Bandit.
MEMPHIS, TENN. — PetSmart Inc. has signed an 18,325-square-foot lease with Weingarten Realty to co-anchor Ridgeway Trace Shopping Center on the southeast corner of Poplar Avenue and Interstate 240 in Memphis. When completed, Ridgeway Trace will encompass 300,000 square feet with anchors Target, Sports Authority and Best Buy. Brooke J. Harvey of Weingarten Realty handled the lease negotiations on behalf of the landlord. Danny Buring of the Shopping Center Group represented the tenant.
POMPANO BEACH, FLA. — Miami-based Pinnacle Housing Group has opened the 302-unit Golden Acres affordable housing complex in Pompano Beach. Designed by Fort Lauderdale, Fla.-based Pasquale Kuritzky Architecture, the property is located on 31 acres at the intersection of Dr. Martin Luther King Boulevard and NW 18th Drive. Pinnacle Housing and the Housing Authority of Pompano Beach broke ground on the project in April 2008.
CROSSVILLE, TENN. — Friendswood, Texas-based TrinityCare Senior Living, along with the Crossville-based developer Ray Mays, will build the 82-unit Trinity Heights senior housing complex in Crossville. Deutsche Bank Berkshire Mortgage recently provided funding for the project, which will cost $10 million. Trinity Heights is TrinityCare’s second facility in eastern Tennessee. Completion is slated for next year.
MIAMI — Orlando, Fla.-based Cuhaci & Peterson Architects has begun preliminary design work on a 62,000-square-foot Winn-Dixie store in Miami. The property is located on the corner of NW 7th Avenue and 11th Street. Groundbreaking will occur early next year.
SARASOTA, FLA. — Ambulatory Surgical Centers of America has tapped Fort Myers, Fla.-based Stevens Construction for renovations and expansion of the Premier Surgery Center of Sarasota. The property is located at 983 Beneva Rd. Stevens will renovate 20 rooms and construct two surgery recovery rooms at the hospital. Completion is slated for late this year.
ORLANDO, FLA. — Atlanta-based Grove Street Partners has sold two hotels, located adjacent to Aquatica Waterpark at Sea World Orlando, to Richmond, Va.-based Apple REIT Nine for an undisclosed amount. Grove Street developed the 200-unit SpringHill Suites and the 200-unit Fairfield Inn & Suites in a joint venture with Ed Lee LLC. The hotels share a pool, a fitness center and a restaurant.