FORT MYERS, FLA. — Mark Alexander of Sperry Van Ness’ Ft. Myers office recently completed the sale/leaseback of Cypress Professional Building, a 29,927 square-foot office building in Punta Gorda, Fla., for $7.8 million. Alexander represented the seller, Corazon Development, and Bob King of R. King & Associates of Tampa worked on behalf of the buyer, Raleigh, N.C.-based Oaks Development. The building is 100 percent occupied.
TAMPA, FLA. — CLW Health Care Services represented Coastal Community Retirement Corporation in the $55.6 million sale of Marsh’s Edge in St. Simon’s Island, Ga. The 75-acre retirement community is comprised of 30 cottage homes, a 52-unit health care center and more than 100 individual apartments.
ATLANTA — California-based Grubb Realty Investments negotiated the purchase of Creekside Crossing, a 280,480 square-foot, 280-unit apartment complex in Atlanta for $25.4 million from Norfolk, Va.-based Harbor Group Properties. Amenities include a swimming pool, a nature trail and a business center. Both companies were working on behalf of affiliates.
ATLANTA — Bucky Winfield of Atlanta-based Richard Bowers & Co. brokered Meritex Marietta’s purchase of a 168,000-square-foot industrial space in Marietta, Ga. The property, located at 1700 and 1750 Enterprise Way, was acquired from 1700 Enterprise Way, L.P., and Sullivan 75, L.P. Meritex acquires and develops institutional grade industrial properties.
ATLANTA — Grubb & Ellis Realty Investors recently purchased a 222-unit multifamily community at 3100 River Exchange in Sandy Springs, Ga., from AMLI Residential for an undisclosed sum. The 23-acre property, which was built in 1997, comprises nine residential buildings and a clubhouse as well as a pool and a fitness center. David Pike and Anne McNeil of Wachovia arranged financing for the purchase.
FORT MYERS, FLA. — St. Louis-based The DESCO Group will open its $55 million The Plaza at Island Pass retail development in Fort Myers next month. The 252,620-square-foot shopping center, which is located on a 34-acre site at San Carlos Boulevard and Kelly Road, is anchored by a 177,394-square-foot Super Target. Attached to the Super Target store is 21,726 square feet of space for specialty shops. Designed by Dallas-based Hodges Associates, the project contains four retail buildings and four outlots. Two buildings measuring 25,000 and 19,000 square feet will house junior anchors at the center; additionally, a third 9,500-square-foot facility will host specialty retailers.
TAMPA, FLA. — Tampa-based McKibbon Hotel Management has opened the TownePlace Suites by Marriott within the Avion Park Westshore mixed-use development in Tampa. The 122-unit facility, which is located across from the Tampa International Airport at the corner of Spruce and O’Brien streets, features studios as well as one- and two-bedroom floor plans. Amenities at the hotel include fully equipped kitchens in every unit, a pet-friendly environment and an outdoor heated pool. Situated on a 19-acre site, Avion Park Westshore will house two more hotels; a 136,000-square-foot owner-occupied, Class A office tower; a 300,000-square-foot leased office facility; and a 21,000-square-foot specialty retail shopping center.
CORAL GABLES, FLA. — Florida East Coast Realty has announced that 2020 Ponce, a Class A office condominium located on the corner of Ponce de Leon and Minorca in downtown Coral Gables, has reached its maximum height of 14 stories. Beuchamp Construction is acting as general contractor for the 130,000-square-foot facility. Construction began in 2007, with completion slated for spring 2009. The Mediterranean-style building will feature balconies, valet parking and concierge services. The price of construction was not disclosed.
HERMITAGE AND GOODLETTSVILLE, TENN. — On behalf of two California buyers, the Nashville office of Colliers Turley Martin Tucker (CTMT) has arranged the purchase of two multifamily communities in Hermitage and Goodlettsville. White Oaks, which is located at 5610 Old Hickory Blvd. in Hermitage, was acquired by Green Leaf Hermitage LLC of San Ramon, Calif., for $12.5 million. CW Capital Asset Management sold the 261-unit apartment building. Green Leaf Hermitage was represented by Scott Tyrone, Robby Davis and Perry Gooch in the Nashville office of CTMT. In Goodlettsville, Crestview BRE LLC of Los Angeles has purchased Crestview Apartments from Crestview Apartments LLC for $8.29 million. The 191-unit complex, which is located at 100 Lewis St., is situated on 26 acres, 15 of which could be used for expansion. Tyrone and Gooch in CTMT’s Nashville office represented both parties in the transaction.
CAPTIVA ISLAND, FLA. — Fort Myers, Fla.-based Stevens Construction has begun construction of the new children’s pool complex at South Seas Island Resort located at 5400 Plantation Rd. on Captiva Island. The pool area, which is slated for completion by the end of this year, will feature a 120-foot cyclone-curved waterslide, a 50-foot vertical slide, brick pavers, landscaping and custom lighting. J.P. Pencil, Terry Tjelmeland and Lizette Martin of Stevens Construction are part of the development team; Ron Weaver and Zach Smith of BSSW Architects are providing architectural services at the site. The cost of construction was not disclosed.