GONZALES, LA. — Construction has begun on developer MIE Properties-LA’s 32-acre, 200,000-square-foot Pelican Point Commerce Center, a business community located on Interstate 10 and Louisiana Highway 44 in Gonzales. The first 37,000-square-foot building will deliver this fall with subsequent groundbreakings to follow.
RICHMOND, VA. — RMS Airport Hotel, an affiliate of Sandhu Management & Investments, has purchased the 155-room Wyndham Richmond Airport from BRE/Richmond Airport, an affiliate of the New York City-based Blackstone Group, for $7.5 million. Tom Hamm and David Butchello of Sperry Van Ness represented both parties in the transaction. The hotel includes a bar and grill, an indoor pool and Jacuzzi and 7,000 square feet of office and banquet space. The buyers are planning a $3 million renovation.
CLEARWATER, FLA. — Pier Watch Properties has sold The Ulmerton, a 36,080-square-foot retail/industrial property located at 3899 Ulmerton Rd. in Clearwater, for $1.8 million. Elliott Ross of Clearwater-based Ross Realty Group represented the seller, and the unnamed buyer was represented by Arian Kushta of Charles Rutenberg Realty’s Clearwater office.
HOLIDAY, FLA. — A private buyer has purchased a 2,714-square-foot Popeye’s restaurant for $775,000. Located in Holiday on U.S. Highway 19, the restaurant was the last franchise in the portfolio of Deerfield, Ill.-based Southeastern Restaurant Properties. Michelle Seifert and Josh Tarkow of Grubb & Ellis|Commercial Florida represented the seller, and the buyer was represented by Florida Realty Centers.
TAMPA, FLA. — Upon completion in the second quarter of 2009, IDI’s 146,825-square-foot Madison Business Center Building D will be Tampa’s first Class A industrial property built to LEED certification standards. The building, located in the Madison Business Center off U.S. Highway 41 in Hillsborough County, will feature an irrigation design to reduce water consumption, among other sustainable elements. Also, recycling efforts will be enforced during construction, which is expected to begin in September.
ALEXANDRIA, VA. — Smoot Lumber has signed a lease renewal for 172,000 square feet in First Potomac Realty’s Plaza 500 property at 6295 Edsall Rd. in Alexandria. As the lead tenant in the plaza, Smoot Lumber occupies a third of the property, which is home to 15 tenants spread across 504,000 square feet. Simpson Properties represented Smoot in the transaction, and First Potomac represented itself.
LOUISVILLE, KY. — Madison, Wis.-based Behnke Venutres recently acquired a 1.7-acre lot at Southgate Shopping Center in Louisville for construction of a 3,940-square-foot Culver’s Restaurant, which will open this fall. The Louisville-based Inman Group’s Jim Hutcherson represented the buyer, and the seller was represented by Mike French, a broker for Southgate Associates.
WASHINGTON, D.C. — Christopher Dixon of Marcus & Millichap represented 3634 Georgia, LLC, in the $1.4 million sale of the three-story, 5,000-square-foot property at 3634 Georgia Ave. in Washington. The building, which was completed in 2005, houses a yoga studio on the second and third floors and a bar, the Looking Glass Lounge, on street level. The buyer, 3634 Avenue, LLC, was unrepresented.
DORAL, FLA. — Gateway Warehouse & Consolidators has sold a 17,000-square-foot, Class A warehouse, located in the Beacon Industrial Park at 10850 NW 30th St. in Doral, for $2.6 million. Servicios Agecom purchased the building. Edward J. Redlich of ComReal Miami represented the seller.
HENDERSONVILLE, TENN. — Capitol Development International is nearing completion on the first retail building at the 16-acre Creekside Shoppes at Indian Lake, located on Indian Lake Blvd. in Hendersonville. Contracts for five of the nine parcels, ranging from 1 to 4.6 acres, have already been signed, and a hotel chain is moving onto a 2-acre plot on the property. The building will be finished by the end of July.