CLEARWATER, FLA. — Severna Park, Md.-based Continental Business Development has sold a 42,250-square-foot, one-tenant warehouse, located on Ulmerton Road in Clearwater, to Boston-based Cabot Properties for $3.57 million. Mike Davis, Rick Brugge and Rian Smith of Cushman & Wakefield represented the seller in the transaction.
ATLANTA — A joint venture between Baltimore-based Alex. Brown Realty and Newton, Mass.-based Chartwell Holdings has acquired the 450-unit Union Station Apartments, located southwest of Atlanta’s city center. ABR Chesapeake Fund III added $6.62 million to the transaction, but further details about the sale were not disclosed. Apartment amenities include two clubhouses, two pools, three tennis courts, a workout room and a meeting space. Alex. Brown and Chartwell will invest $2.6 million during the next year to renovate the property, and Chartwell will be responsible for management duties.
TAMPA, FLA. — Miami-based S&K Properties has purchased a 128,000-square-foot warehouse, located in Sabal Park at 3402 Queen Palm Drive in Tampa, from EastGroup TRS for $5.99 million. Mike Davis, Rian Smith and Rick Brugge of Cushman & Wakefield represented the seller.
WILLIAMSBURG, VA. — Wal-Mart Stores East has purchased 7.9 acres in the Settler’s Market development in Williamsburg for an undisclosed amount from Settler’s Market Developers. The acreage will be used for a 40,000-square-foot Neighborhood Market store, which will be smaller than a Wal-Mart Supercenter and feature a farmer’s market-type atmosphere. Christopher Rouzie of Thalhimer’s Newport News, Va., office represented Wal-Mart in the transaction. The market will open in summer 2009.
DORAL, FLA. — Alex Wiegandt and Alicia Willen of Miami-based Keyes Co. have brokered the complex stock transfer and asset sale of a 17,265-square-foot automotive industrial building from Kingston Financial of Canada to private buyers for $3.25 million. The transaction was financed by Sun America Bank.
HOLLYWOOD, FLA. — Manhasset, N.Y.-based Milbrook Properties has acquired a 210,864 square foot shopping center, located on Taft Street in Hollywood, from an undisclosed seller for $26.5 million. The center, which is anchored by Publix, Walgreens and Bealls, is 95 percent occupied by tenants including Dunkin Donuts and Rent-A-Center. Adam Feinstein of Cushman & Wakefield’s Miami office brokered the transaction, and financing for the 10–31 exchanged was arranged by Paul Greenbaum of GCP Capital with New York Community Bank.
RALEIGH, N.C. — GE Real Estate has provided a $21 million fixed-rate loan for the seven-story, 156,000-square-foot Capital Center office building in Raleigh to the Durham, N.C.-based Dilweg Companies. Dilweg has owned the property, located in the Central Wake County submarket, for 5 years. Charlotte, N.C.-based Medalist Capital served as mortgage banker.
HANOVER, MD. — Columbia, Md.-based Rhee Bros. has purchased the 215,066-square-foot Lincoln Crossroads II, located at 7461 Coca Cola Dr. in Hanover, from Crossroads Venture for $18 million. The 30-foot clear, 50-dock facility will serve as Rhee’s headquarters and center of distribution. Scott Skogmo of Columbia, Md.-based Sperry Van Ness/Skogmo Commercial represented the buyer, and Dallas-based Lincoln Property Co.’s Merrill Turnbull represented the seller.
ORLANDO AND DAVIE, FLA. — The Fort Lauderdale office of Florida Bond and Mortgage has arranged three loans worth more than $10 million. In Orlando, Thrivent Financial for Lutherans provided $4 million in financing for the 83,683-square-foot warehouse at 3701 Vineland Rd. Southern Farm Bureau Life Insurance Co. financed a $3.53 million first mortgage for two industrial buildings, located at 4700-4800 S.W. 51st St. in Davie. Southern Farm also provided a $2.64 million first mortgage for two warehouses at 4701–4759 S.W. 51st St. in Davie.
NORTH LAUDERDALE, FLA. — Atac Estates recently sold the 51,500-square-foot office building Jefferson Square to Square One Industrial for $3.92 million. The property, which is located at 6041–6047 Kimberly Blvd. in North Lauderdale, houses Contour Dental Lab, Palm Lakes Printing and United Chemicals. Richard Matricaria and Ryan Nee of Marcus & Millichap Real Estate Investment Services’ Fort Lauderdale, Fla., office represented the seller and buyer, respectively.