ORLANDO, FLA. — Orlando-based McCree General Contractors & Architects has completed the 11,530-square-foot Orlando Fire Station #7. The facility was built to Silver LEED certification and features high-efficiency heating and cooling systems and low-flow plumbing. Design plans for the property are part of a prototype that will be used at five more fire stations in the area. The fire station includes truck bays, offices, a kitchen, a dining room, sleeping quarters and a triage area.
CARY, N.C. — Columbus, Ohio-based CASTO has welcomed Bloom Supermarket to the 58,863-square-foot Fairview Village, which is currently under construction in Cary. The 38,000-square-foot store will open during the first quarter of 2010. Bloom Supermarket is a subsidiary of Food Lion.
WASHINGTON, D.C. — JetSet Hospitality has purchased The Embassy Inn and the Windsor Inn & Suites from an undisclosed seller for an undisclosed amount. The two properties, which were constructed in the early 1900s, are located on 16th Street in Washington and encompass 84 total rooms. Bill Moyer and Charlotte Seale of Washington-based Donohoe Real Estate Services structured the sale.
HAMPTON ROADS, VA. — Jackson, Miss.-based Parkway Properties has sold the 82,000-square-foot Lynnwood Plaza, an office property in Hampton Roads, to an undisclosed buyer for $7.8 million. The plaza is currently 96.7 percent occupied. The sales price represented an 8.4 percent cap rate on 1 year of projected net operating income.
BOCA RATON, FLA. — Crown Wine & Spirits has sold two of its Boca Raton stores for a total of $3.5 million. A Sarasota, Fla.-based company purchased an 8,750-square-foot store, located at 3500 N. Federal Highway, for $2.25 million. A local private investor purchased a 4,800-square-foot store, located at 757 S. Federal Highway, for $1.25 million. The two transactions were sale-leasebacks, with Crown Wine & Spirits signing 15-year NNN leases. The leases come with 1.5 percent annual rent increases and three 5-year options. Marc Strauss of Marcus & Millichap’s Fort Lauderdale, Fla., office and Adolfo Palacios of the firm’s Miami office represented the seller. Greg Zeifman of Marcus & Millichap’s Miami office represented the Sarasota company, and Evan P. Kristol and Still Hunter, III, of the Fort Lauderdale office represented the local buyer.
ORLANDO, FLA. — McDonald Development Group has sold two industrial buildings totaling 255,499 square feet to IDI for $17.2 million. The properties, CrownPointe Five and Six, are located in the CrownPointe Commerce Park in Orlando. The buildings are 71 percent occupied. Mike Davis of Cushman & Wakefield’s San Jose, Calif., office; Rick Brugge of the firm’s Tampa, Fla., office; and Lee Morris and Jared Bonshire of Cushman & Wakefield’s Orlando office represented the seller.
LOUISIANA — Covington, La.-based Stirling Properties, a preferred developer of Walgreens drugstores, has commenced construction on four Walgreens stores and has recently completed a fifth store in Louisiana. Openings for a 14,820-square-foot property in Lafayette, La., and 14,490-square-foot stores in Kenner and Meraux, La., are slated for the fourth quarter of this year. A 14,490-square-foot store in Denham Springs, La., will open during the second quarter of 2010. A 14,490-square-foot Walgreens opened in Zachary, La., on February 2.
PLANT CITY, FLA. — Keene Construction Co. of Orlando, Fla., has finished construction on a 45,000-square-foot Publix in Walden Woods, a shopping center that spans more than 70,000 square feet. The store, which was developed by Tampa, Fla.-based RMC Property Group, is located at 2204 James L. Redmond Parkway in Plant City. Orlando-based Cuhaci & Peterson Architects designed the building.
ROSWELL, GA. — Ronen Abergel of Arbor Commercial Funding’s New York City office has secured a $10.61 million loan for the 312-unit Kings Bridge apartment complex in Roswell. Financing for the 7-year loan was provided by Fannie Mae. The loan carries a 6.41 percent interest rate and a 30-year amortization.
TAMPA, FLA. — Capital Realty Grand Oak has received a $10 million first mortgage for a 67,917-square-foot office building leased to the Veterans Administration. The property is located at 8900 Grand Oak Circle in Tampa. Grosvenor Investment Management US provided financing for the 10-year loan, which comes with a 25-year amortization rate. Robert Hernandez of NorthMarq Capital’s Tampa office secured the loan.
