CLEARWATER, FLA. — Colliers International has launched it's National Student Housing Group, based in Clearwater. Dorothy Joffe Jackman and Travis Prince have been hired as managing directors of the newly formed group to serve clients nationwide. The company will continue to hire additional real estate professionals to join the student housing practice.
JACKSONVILLE, FLA. — A 65,296-square-foot shopping center, located at 31 Arlington Rd. S. in Jacksonville, has been sold for $2.2 million. Winn Dixie and Pinch-A-Penny anchor the center. Bryan Bartlett and Lee Stine of Jacksonville, Fla.-based Grubb & Ellis/Phoenix Realty Group represented the buyer in the transaction.
HUNTSVILLE, ALA. — Walker & Dunlop has arranged $24.7 million in refinancing for the 334-unit Bridgewater Apartments, located at 1501 Old Monrovia Rd. in Huntsville. The 10-year loan has a 30-year amortization schedule and was provided by Fannie Mae. Troy Marek of Regions' Real Estate Capital Markets originated the loan and Will Baker of Walker & Dunlop's Bethesda, Md., office led the Walker & Dunlop team.
The Orlando office market has been recovering during the past 90 days in all aspects and classes. The vacancy rate has been improving. During the third quarter of 2011, it was between 16 percent and 18 percent, which is in line with the national average. According to REIS, the Sanford and Maitland submarkets have the lowest vacancy at 12 percent and 14 percent, respectively. Sales have been steady, especially bank-owned office buildings, which are trading around 20 to 30 percent below cost. One of the most noticeable sale transactions was $60.8 million sale of the 476,000-square-foot Bank of America Center in downtown Orlando, which Eola Capital sold to Parkway Properties Office Fund II LP in May of last year. Additionally, in October of 2011, Blackstone purchased Duke Realty’s office portfolio, totaling 10.1 million square feet for $1.08 billion. Included in that portfolio were a few assets in Orlando. There are also a few bank-owned office buildings that are under contract and expected close early next year. The Interstate 4 corridor from Disney to Sanford seems to be a hot spot for development as many companies are looking for more exposure and better access. Duke Realty is building the 133,000-square-foot Kirkman …
NORTH PORT, FLA. — The 346-unit Toledo Club Apartments, located at 3565 Island Club Dr. in North Port, has sold for $23.52 million. Amenities include two clubhouses, a Wi-Fi business center, two fitness centers, two pools, a spa, illuminated tennis courts, a volleyball court, a dog park and a car care center. Jamie May of Institutional Property Advisors' Tampa, Fla., office represented the seller, Mt. Horeb, Wis.-based The Gallina Cos., in the transaction and procured the buyer, West Springfield, Mass.-based Aspen Square Management.
MARYLAND — Scott Group has sold a four-property industrial portfolio totaling 192,900 square feet in Maryland to Korth Construction. The properties include the 75,000-square-foot Crain Centre in Glen Burnie; the 16,500-square-foot Dunmore Building in Capitol Heights; the 54,400-square-foot Ritchie Business Center in Capitol Heights; and the 47,000-square-foot Rainswood Building in Landover. Christopher Kubler of NAI KNLB's Columbia, Md., office represented the seller in the transaction and the buyer was self-represented.
ATLANTA — Cushman & Wakefield has negotiated the sale of the 94,839-square-foot 56 Perimeter Center East, an office building located in Atlanta. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Rubenstein Partners, the seller, in the transaction. The buyer was The Simpson Organization.
HOMESTEAD, FLA. — Coral Gables, Fla.-based Continental Real Estate Cos. (CREC) has arranged the $5.22 million sale of 79 condo units, located in the 252-unit Caribbean Isles Villas Condominiums, located at 376 NE 26th Terrace in Homestead. The units were approximately 90 percent occupied at the time of the sale. Peter Mekras of CREC represented 13th Floor Investments, the seller, in the transaction.
ORLANDO, FLA. — Wyndham Vacation Ownership has signed a 230,000-square-foot lease at Sea Harbor Office Center, located at 6277 Sea Harbor Dr. in Orlando. David Chapin of Jones Lang LaSalle's Orlando office represented Lexington Realty Trust, the landlord, in the transaction. John Wanamaker of Orange City, Fla.-based Coldwell Banker Commercial/AI Group represented the tenant.
WASHINGTON, D.C. — New York City-based JOSS Realty Partners has sold the 88,074-square-foot 2131 K. Street N.W., an office building located in Washington, D.C.'s CBD, for $28.8 million. The 8-story building is 90 percent leased to tenants including George Washington University Hospital, Cardiology Associates, Atlantic Services Group, The George Washington University's National Health Policy Forum and Gambro Healthcare (Davita). Transwestern represented the seller in the transaction.