TAMPA, FLA. — Roger Kumar Revocable Trust has sold a 72,000-square-foot industrial building to Kennedy Investments for $2.8 million. The 2-acre site is located at 5102 W. Hanna Ave. in Tampa. Jan Boltres and Mike Scott of Grubb & Ellis|Commercial Florida’s Tampa office represented both parties.
Southeast
FLORIDA — Atlantic Retail Properties has represented PETCO in its Florida expansion, opening and signing leases for several new stores statewide. New PETCO stores have opened in Mandarin, Pinellas Park, Port Richey and Ocala, Fla., with store leases signed in Jupiter and South Beach, Fla. Atlantic Retail Properties’ Tom Godino and Dan Lynch represent PETCO in its quest to open 13,000 to 15,000-square-foot stores in the state.
LOUISVILLE, KY. — Denver-based Dividend Capital Trust has purchased the 899,940-square-foot Riverport Commerce Center, a Louisville bulk industrial complex, from Riverport Commerce Center for $30.8 million. Louisville-based Commercial Kentucky’s Craig Collins and Stephan F. Gray brokered the transaction along with Jim Carpenter of Cushman & Wakefield’s Chicago office.
FAYETTEVILLE, N.C., AND CHESAPEAKE, VA. — Uniondale, N.Y.-based Arbor Commercial Funding recently secured two loans in North Carolina and Virginia through the Fannie Mae DUS program. The company arranged $16.16 million to refinance the 216-unit Jamestown Commons apartment complex in Fayetteville. The 10-year loan comes with a rate of 6.41 percent and a 30-year amortization schedule. The 124-unit Commons at Churchland in Chesapeake received a $5.53 million loan under the Fannie Mae DUS MAH product line. The 5-year loan has a 5.02 percent rate and a 30-year amortization schedule.
FORT LAUDERDALE, FLA. — Fort Lauderdale-based AutoNation, the largest automotive retailer in the country, has leased 105,000 square feet in the office building at 200 Las Olas Circle in Fort Lauderdale. The company will move its headquarters into five floors of the 17-story building in mid-2009. The 12-year lease comes with two 5-year options. In addition to its 186,516 square feet of Class A office space, the property also encompasses 17,538 square feet of ground-level retail. Thomas P. Angelo and Gavin S. Banta of Angelo & Banta represented AutoNation, and David Black of Frank, Weinberg & Black represented the landlord, 200 Brickell Ltd.
HENRICO COUNTY, VA. — Mugford Property Associates has purchased a 41,112-square-foot retail property from Royal Oldsmobile Co. and E.W. Mugford for $3 million. The building, located at 8200 W. Broad St. in Henrico County, will serve as the location for the Royal Collision Center. Thalhimer’s Millard F. Jones, II, represented the seller.
ALEXANDRIA, LA. — Stirling Properties is in the final stages of its renovation of the 190,000-square-foot MacArthur Village in Alexandria and is set to welcome a host of new tenants. The center, which is anchored by a 66,612-square-foot Kroger, will celebrate the opening of a 25,000-square-foot Hastings Entertainment right before Thanksgiving. Snap Fitness will open a location before the end of the year, and 11,000 square feet of retail space is in the pre-leasing stages. A 7,138-square-foot Texas Roadhouse will open in February 2009, and an undisclosed tenant will open its doors next spring.
OLIVE BRANCH, MISS., AND MEMPHIS, TENN. — Greensboro, N.C.-based New Breed has leased two industrial properties from ProLogis. In Olive Branch, New Breed leased two buildings, totaling 469,232 square feet, at 8640 Nail Rd. in the ProLogis Park Desoto. New Breed also renewed its 163,800-square-foot lease at 3676 Raines Rd in Memphis, a ProLogis-owned development. Steven Podolsky of Riverwoods, Ill.-based Podolsky Northstar Realty Partners/CORFAC International and Treat Macdonald of Crump Commercial LLC/CORFAC International represented New Breed.
MIAMI — Miami-based Gutierrez Group has broken ground on the 126,000-square-foot Highland Park Center, located at 1001 Sunnybrook Rd. in Miami. The 11-story, Class A medical office building is being constructed to silver LEED standards. Delivery is expected by next winter.
WASHINGTON, D.C. — Woodmark Commercial Services has represented 2021 L Street Investors in its sale of a 75,457-square-foot office building to The American Society of Hematology for an undisclosed amount. The seller acquired the 10-story, Class A building last year and completely renovated the property, adding two additional floors and new electrical and plumbing systems. Paul Ehrenreich of CresaPartners represented the buyer, who will move into the building’s top five floors in the latter half of 2009.