ST. PETERSBURG, FLA. — John Burpee of NAI Tampa Bay has represented a St. Petersburg-based real estate investor in his sale of the 90-unit Woodland Oaks Apartments to a Canadian investor for $5.22 million. Purchase of the property, which is located at 4201 49th St. North in St. Petersburg, was aided by Coldwell Banker.
GRIFFIN, GA. — As part of a move from its current headquarters in Norcross, Ga., Norcom has purchased the 200,000-square-foot Cooper-Standard building from an undisclosed party for $4 million. The company had leased the Cooper-Standard building, located in the Griffin-Spalding Industrial Park in Griffin, for the past few months and decided to purchase the property with the help of the Griffin-Spalding Development Authority. The move is expected to create 285 new jobs.
HOLLYWOOD AND DAVIE, FLA. — Hollywood Palms LLC has sold its 210,864-square-foot Hollywood Palms Shopping Center, located at the intersection of Taft Street and North 68th Avenue, to Hollywood Commons LLC for an undisclosed amount. Mark Gilbert and Adam Feinstein of Cushman & Wakefield’s Miami office represented the seller. Cushman & Wakefield also represented Baer’s Furniture in the sale of its 32,340-square-foot retail space to Kerv Investments for an undisclosed amount. Sale of the property, located at 4690 S. University Dr. in Davie, was brokered by Chris Drew, Chris Metzger, Rick Etner and Christopher Thomson.
NORTH BAY VILLAGE, FLA. — Stephen Wechsler of Thomas D. Wood & Co. secured $7.5 million in financing for the Inn on North Bay, a 119-room Best Western Hotel and Shuckers Restaurant located at 1819 79th St. Causeway in North Bay Village. The 5-year loan was financed through a local bank at a fixed rate of 6 percent with a 25-year amortization. The loan will be used to renovate the 41-year-old property.
OXFORD, MISS. — Germantown, Tenn.-based Trezevant Realty Corp., in partnership with Olive Branch, Miss.-based Utley Properties, has completed the 158,000-square-foot Oxford Galleria, located at the intersection of West Jackson Avenue and Home Depot Drive in Oxford. The Belk-anchored shopping center includes the tenants Rack Room Shoes, Mimosa Flowers & Gifts, The Home Depot and Office Depot, and it will be 100 percent occupied by this fall. Chick-fil-A will open on one of three outparcels next year.
DAVIDSON, N.C. — Martin Kerr & Associates is in the final stages of approval for the two-building, 40,000-square-foot Davidson Commons East, located at Exit 30 off Interstate 77 in Davidson. Both buildings will feature office or retail space, with condominiums on the top floors. The development team, which includes Flat Creek Construction, the land planners Cole, Jenest and Stone and The Wilson Group Architects, will commence site work within the next few months. The project is expected to deliver first quarter 2010.
SUMMERVILLE, S.C. — Trammel Crow Co. has purchased a 310-acre parcel in Summerville from Eastway Properties for an undisclosed amount for the seven-building, 3 million-square-foot Omni Commerce Park. The phased project is expected to break ground this month, beginning with a 772,000-square-foot property slated to deliver in second quarter 20009. Trammel Crow will construct the first phase, a building that will include cross dock capabilities, ESRF fire suppression and trailer staging areas, to LEED standards.
TUCKER, GA. — Equity Capital Management has purchased a two-building, Class A office complex totaling 406,292 square feet, located at 2245 and 2247 Northlake Pkwy. in Tucker, from AT&T for $72 million. The three-story 2245 building and the 10-story 2247 building come with more than 1,500 parking spaces. AT&T executed a long-term leaseback on the property with the help of Jay Koster, Brad Armstrong, Mike Hochanadel and Chris Wagner of Jones Lang LaSalle.
RURAL HALL, N.C. — Boston-based STAG Capital Partners has acquired a 250,000-square-foot warehouse, located at 300 Forum Pkwy. in Rural Hall, from Highwood LP for an undisclosed amount. The property, which was built in 1993, is 100 percent leased to Sonoco Products Co. John Schultz and Hap Royster of Greensboro-based Triad Commercial Properties represented the seller.
NASHVILLE, TENN. — Becker Properties has sold a 182,000-square-foot warehouse, located at 660 Massman Dr. in Nashville, to Holladay Properties for $3.15 million. Ronnie Wenzler of Colliers Turley Martin Tucker-Nashville represented the seller.