CLINTON, TENN. — Southern Tube Form, an exhaust tubing manufacturer, leased the 102,000-square-foot Bodyguard Building in Clinton. This will be the second facility for Southern Tube Form. Bob Thorton of Baker Realty Company in Knoxville represented both C.A.T. Realty, the owner, and Southern Tube in the transaction. Terms of the lease were undisclosed.
Southeast
DAYTONA BEACH, FLA. — A 10,981-square-foot CVS in Daytona Beach, located at 101 South Ridgewood Dr., sold for $3.05 million. Craig Lewis Thomas of Marcus & Millichap's Jacksonville office marketed the property on behalf of the seller, a limited liability company, and secured and represented the buyer, an undisclosed individual/personal trust.
TAMPA, FLA. — Green Oaks Apartments, a 100-unit lender-owner complex located at 6815 Interbay Blvd. in Tampa, sold for $2.35 million or $23,500 a unit in an REO sale. The NAI Tampa Bay Troubled Asset Optimization team, lead by John Burpee, represented the buyer, a local investor. Lutz-based Doyle & MacGrath Real Estate represented the seller, Kansas City, Mo.-based Dickinson Financial Corp.
RICHMOND, VA. — Marcus & Millichap Capital Corp. arranged a $9.3 million refinancing with a CMBS lender for a 153,000-square-foot, two-property office portfolio in Richmond. The loan is for 10 years, amortized over 30 years with a fixed interest rate of 6.3 percent. Jerry Kray of Marcus & Millichap's New York office arranged the financing.
CHARLOTTE, N.C. — Tower Place Festival, an 114,876-square-foot community center located at 8700 Pineville Matthews Rd. in Charlotte, sold for $12.7 million. It is 80 percent leased and anchored by a Bally Total Fitness with several other national tenants including Bruegger's Bagels, Empire Beauty Academy and Once Upon A Child. Robert Podewils of the Charlotte-based Divaris Real Estate, represented the seller. The buyer was a New York-based group of private investors.
CORAL SPRINGS, FLA. — Ivy Heron Bay purchased the note for 89,114-square-foot Heron Bay Corporate Center I & II, a two-building Class A office campus totaling , located at 11555-11575 Heron Bay Blvd. in Coral Springs, for $10.85 million from Investor's Warranty of America. Scott O'Donnell, Dominic Montazemi, Marty Busekrus, Miguel Alcivar and Chris Lee of CB Richard Ellis in Boca Raton brokered the sale on behalf of the buyer and the seller.
SOUTHAVEN, MISS. — Myers Tire Supply signed a 55,575-square-foot lease with IDI at Class A business park Airways Distribution Center, Building F, located in Southaven. Myers Tire Supply is in the process of consolidating several regional distribution branches to this location, where they plan to begin operating in May. The price of the lease was undisclosed. Myers Tire Supply was represented by Bobby Daush, Jim Mercer and Patrick Burke of CB Richard Ellis in Memphis, Tenn., and Kevin Malinowski of the CB Richard Ellis Global Corporate Services in Cleveland, Ohio. IDI was represented by Tim Moore.
ANNISTON, ALA.; AND FAYETTEVILLE, N.C. — A $2.1 million loan was secured by a first mortgage on a Winn Dixie in Anniston and a Rite Aid in Fayetteville. The deal was brokered by Jeanne Cronin of White Plains, N.Y.-based Q10 | New York Realty Advisors on behalf of the undisclosed borrower. The loan was placed with a leading commercial bank.
BRISTOL, TENN. — Scottsdale, Ariz.-based Healthcare Trust of America, acquired The Sapling Grove Professional Building and the Bristol West Medical Office Building, which total approximately 120,000 square feet, in Bristol for $23.37 million. The portfolio, known as the Holston portfolio for the buildings' anchor tenant, is approximately 99 percent leased. The CB Richard Ellis Atlanta office represented the seller, who was undisclosed.
ST. PETERSBURG, FLA. — Crosswinds Apartment Homes, a 208-unit property in St. Petersburg, sold for $13.1 million. The property, which totals 153,984 square feet, contains 13 two-story garden-style buildings on 18.5 acres and includes amenities such as two laundry facilities, a fenced pet-play area, resort-style swimming pool, racquetball and tennis courts and more. Cole Whitaker, Orlando-based Hendricks & Partners, negotiated the transaction for the buyer, Nashville, Tenn.-based Covenant Capital Group LLC. Hal Warren, also of Hendricks & Partners, represented the seller, Chicago-based Equity Residential.