ORLANDO, FLA. — Southland Florida Properties has sold a 50,000-square-foot warehouse, located at 3001 Director’s Row in Orlando, to Director’s Row LLC for $3.75 million. The building, which is in the Orlando Central Park, is 100 percent occupied. Susan Ruby of Cushman & Wakefield’s Orlando office represented the seller.
HOLLYWOOD, FLA. — Bealls Outlet Stores has set its sights on the 138,056-square-foot Hollywood Festival Shopping Center, located at the intersection of Taft Street and 66 Avenue in Hollywood, signing an 8-year lease worth $1.12 million. The 20,020-square-foot store will open its doors next spring. Bealls will join Winn-Dixie, Family Dollar, CVS/pharmacy, RadioShack and Foot Locker in the shopping center. Tim Neal of Fort Lauderdale, Fla.-based Neal Realty & Investments represented the landlord in the transaction.
BENTONVILLE, ARK. — North Carolina-based The Generation Companies will open a 118-room Suburban Extended Stay Hotel in Bentonville this month. Developer Nueterra Real Estate Development of Leawood, Kan., outfitted each hotel room with fully-functional kitchens. Hotel amenities include wireless Internet, weekly housekeeping and on-site laundry. Tara Primm of Generation will serve as general manager.
FAIRFAX, VA. — San Francisco-based Carmel Partners has acquired the 250-unit Avera Station in Fairfax through its Carmel Partners Investment Fund III for $65.8 million. The property, which was built this year, was designed to be condominiums. The buyer intends to rent the units as apartments and has renamed the property Carmel Vienna Metro. Site amenities include a fitness center, theatre room, business center, yoga room, pool and a clubhouse. Further details of the transaction were not released.
TALLAHASSEE, FLA. — Parrish Group will break ground next January on Persimmon Hill, a development on Thomasville Road in Tallahassee that features 100,000 square feet of retail and office space mixed with 20 boutique home sites. The phased project features 1,000 linear feet of frontage on Thomasville Road and is located adjacent to a 430,000-square-foot retail development. The first phase is expected to deliver in fall 2009.
MIAMI — Atlanta-based InterContinental Hotels Group has opened a 122-room Hotel Indigo in the Kendall area of Miami. The converted Ramada Limited property is the first Hotel Indigo in Miami and will be joined by two additional Hotel Indigos in Miami Lakes and South Beach this fall. Hotel amenities include a business center, wireless Internet and two restaurants. Driftwood Hospitality Management oversees daily operations of the hotel on behalf of the owner, Rodblu Investment Fund I.
PUNTA GORDA, FLA. — Owen-Ames-Kimball Co. has broken ground on a 409-space parking garage with ground level retail at the intersection of Herald Court and U.S. Highway 41 in Punta Gorda. Design elements include a roofed stair tower emblazoned with the city’s seal. Jason Prokopetz, Frank Mullins and Frank Bell of Owen-Ames serve as the construction team.
WINCHESTER, VA. — An affiliate of the Beck Co. has sold a 50-unit Econo Lodge in Winchester to Aadesh LLC for $2.9 million. The property will undergo cosmetic renovations but will retain its Econo Lodge brand. David Mumford and Ed James of the Mumford Co. represented the seller.
BUFORD, GA. — Lake Lanier Islands Resort has undergone a complete rebuilding of the 221-room Legacy Lodge & Conference Center, the first phase of a 10-year resort-wide expansion plan. Located at 7000 Holiday Rd. in Buford, hotel renovations include a 21,000-square-foot conference center, a ballroom that seats up to 300 people and six 4,500-square-foot villas. BullFrogs Bar and Grille was also expanded as part of Phase 1. The second phase, which will be complete by next spring, includes a golf course redesign and improved infrastructure.
ATLANTA — Parkside Partners of Atlanta has purchased a 50,000-square-foot warehouse, located at 5256 Peachtree Rd. in Atlanta, from a private party based in Albertville, Ala., for $3.25 million. The buyers plan on retrofitting the space for offices. William Johnson, Anthony Lois and Mary Sorrells of Bowers & Co. Land and Investment Group represented the seller.