ORLANDO, FLA. — AMB Property has sold a 201,600-square-foot distribution facility to High Street Real Estate Fund III for an undisclosed amount. The property, which is fully leased to Walgreen Co., is located at 7575 Chancellor Dr. in Orlando. David Murphy of CB Richard Ellis’ Orlando office and Frank Fallon, Chris Riley and Brian Budnick of the firm’s Atlanta office represented the seller.
Southeast
VIRGINIA AND MARYLAND — An undisclosed buyer has purchased a four-property portfolio of triple-net leased Applebee’s restaurants from an undisclosed seller for $9.2 million. The restaurants are located in Harrisonburg, Warrenton and Winchester, Va., and California, Md. Rick Fernandez of Calkain Realty Advisors represented the buyer in the transaction.
JUPITER, FLA. — Atlantic Retail Properties will help Lowe’s Home Improvement Warehouse dispose of 60 excess real estate assets in the Southeast. The firm has been tasked with selling properties that range from vacant land to 50,000-square-foot stores. The assets are located in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee. Dan Lynch, Greg Godino and Ross Waters of Atlantic’s Jupiter office are in charge of executing the deals.
ORLANDO, FLA. — Orlando-based Corporate Convenience has sold a 16,969-square-foot laundry property to Mchaeuszer Laundry for $1.26 million. The vacant building is located on 1.3 acres at 5824 Precision Dr. in Orlando. Mike Halimeh of Sperry Van Ness’ Orlando office represented the seller. Paul Noonan of Cambridge Financial’s Orlando office represented the local buyer.
TAMARAC, FLA. — KSM Electronics has leased 42,000 square feet of warehouse space from Principal Life Insurance Co. in the firm’s Westpoint Distribution Center. The property is located on Hiatus Road in Tamarac. Colliers Abood Wood-Fay represented KSM Electronics. Butters Realty & Management represented the landlord.
JACKSONVILLE, FLA. — San Diego-based Western Devcon has purchased 6.79 acres of industrial land in Jacksonville from HGL Properties for $3.5 million. Located on Cypress Plaza Drive in the Cypress Point Business Park, the land will be used for a Military Entrance Processing Station. Mark Scott, Tyler Newman and James Patrick of Cushman & Wakefield brokered the sale.
GAINESVILLE, FLA. — Rocky Point Apartments Inc. has borrowed a $4.5 million loan for its 140-unit Rocky Point Apartments in Gainesville. Freddie Mac financed the 7-year loan, which comes with a 30-year amortization schedule. William Johnson of NorthMarq Capital’s Boca Raton, Fla., office arranged the loan.
FORT MYERS, FLA. — Florida-based Debary Hospitality has purchased a 50-room Econo Lodge in Fort Myers from Fidelity Bank for an undisclosed amount. The property was sold 3 weeks after Fidelity purchased the asset in the foreclosure process. Ken Olipra of Greene, Canfield, De George brokered the sale.
SOMERSET, KY. — Dunham’s Sports has signed a 44,895-square-foot lease with an undisclosed landlord for space in the Grand Central Place shopping center. The property, located on U.S. Highway 27 in Somerset, houses Kroger and Peebles. Paul Ray Smith and Jim Kemper of NAI Isaac Commercial Properties represented the landlord in the transaction.
OCALA, FLA. — Edwards Construction Services of Ocala is looking to a January completion of the Ocala International Airport Air Traffic Control Tower in Ocala. The eight-floor property will include offices, mechanical and electrical rooms, a break room and a control cab. The tower is still awaiting approval by the Federal Aviation Authority and Congress.