LEBANON, TENN. — United Trust Fund has purchased a 383,000-square-foot distribution center from Cracker Barrel in a sale-leaseback valued at $15 million. The property, located in Lebanon, is the company's sole dry goods distribution center for its more than 500 locations.
GEORGIA — ProLogis has leased 222,000 square feet of warehouse space to two tenants in Georgia. The firm leased 115,000 square feet to Innotrac Corp. at Progress Distribution Center Building One in Lawrenceville, Ga. Auto Metal Direct has also leased 107,000 square feet from ProLogis at Buford Distribution Center Building One in Buford, Ga.
ARLINGTON, VA. — The Bozzuto Development Co. and Chesapeake Community Advisors will start construction next month on the 116-unit Views at Clarendon affordable housing community. Located in Arlington, the eight-story complex will be built on top of existing space occupied by The Church at Clarendon and a daycare center. The project also calls for 120 underground parking spaces. Views at Clarendon was designed to achieve LEED Silver standards and will feature EnergyStar appliances, low-flow fixtures and low-emission paints.
ORLANDO, FLA. — Eisenberg Investment Group has purchased a 125,775-square-foot warehouse from an undisclosed seller for $7.3 million. The property is located in the Beeline Industrial Park at 8751 Skinner Court in Orlando. Deborah Mickler and Forrest Askew of Colliers Arnold's Orlando office brokered the deal.
WASHINGTON, D.C. — Washington Residential Fund III, a collaboration between Washington-based Urban Investment Partners and Stonebridge Investments of the Netherlands, has purchased the 32-unit Spring Valley Apartments from a trustee, PNC Bank, for $5.1 million. Built in 1950, the property is located at 4000 – 4016 47th St. N.W. in Washington. The buyer plans to undertake a $450,000 renovation of the property, which will be complete by December. The owners have also started converting four of the apartment's units to condominiums. Jonathan Greenberg of CB Richard Ellis' McLean, Va., office and Bobby Meehling of the firm's Washington office represented the buyer. First Capital Realty's Rick Shinberg and Les Zimmerman represented the seller.
ORLANDO, FLA. — AMB Property has sold a 201,600-square-foot distribution facility to High Street Real Estate Fund III for an undisclosed amount. The property, which is fully leased to Walgreen Co., is located at 7575 Chancellor Dr. in Orlando. David Murphy of CB Richard Ellis’ Orlando office and Frank Fallon, Chris Riley and Brian Budnick of the firm’s Atlanta office represented the seller.
VIRGINIA AND MARYLAND — An undisclosed buyer has purchased a four-property portfolio of triple-net leased Applebee’s restaurants from an undisclosed seller for $9.2 million. The restaurants are located in Harrisonburg, Warrenton and Winchester, Va., and California, Md. Rick Fernandez of Calkain Realty Advisors represented the buyer in the transaction.
JUPITER, FLA. — Atlantic Retail Properties will help Lowe’s Home Improvement Warehouse dispose of 60 excess real estate assets in the Southeast. The firm has been tasked with selling properties that range from vacant land to 50,000-square-foot stores. The assets are located in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee. Dan Lynch, Greg Godino and Ross Waters of Atlantic’s Jupiter office are in charge of executing the deals.
ORLANDO, FLA. — Orlando-based Corporate Convenience has sold a 16,969-square-foot laundry property to Mchaeuszer Laundry for $1.26 million. The vacant building is located on 1.3 acres at 5824 Precision Dr. in Orlando. Mike Halimeh of Sperry Van Ness’ Orlando office represented the seller. Paul Noonan of Cambridge Financial’s Orlando office represented the local buyer.
TAMARAC, FLA. — KSM Electronics has leased 42,000 square feet of warehouse space from Principal Life Insurance Co. in the firm’s Westpoint Distribution Center. The property is located on Hiatus Road in Tamarac. Colliers Abood Wood-Fay represented KSM Electronics. Butters Realty & Management represented the landlord.
