BOCA RATON, FLA. — 399 West Palmetto Park Associates has sold a 12,000-square-foot office building to 399 Palmetto LLC for $2.72 million. The property is located at 399 W. Palmetto Rd. in Boca Raton. Michael Fimiani of Fimiani Development in Boca Raton brokered the sale.
MIAMI — Rigstar II Holding Corp. has acquired a 156,871-square-foot warehouse from First Industrial Realty Trust for $11.92 million in an all-cash purchase. The property, which has never been occupied, is located in Flagler Station at 10910 N.W. 92nd Terrace in Miami. Parvani Commercial Group’s Reshma Parvani represented the buyer. Michael Silver of CB Richard Ellis’ Miami office represented the seller.
MIAMI — Cornerstone Group has completed construction of the 148-unit Valencia Pointe affordable housing apartment complex. Located at 7755 N.W. 27th Ave. in Miami, the property features a swimming pool, a tot lot, a business center and a fitness room. Units are equipped with washer/dryer hookups, energy-efficient appliances and cherry kitchen cabinets.
SMYRNA, TENN. — Swanson Developments of Murfreesboro, Tenn., has purchased a 126,000-square-foot warehouse from a Japanese corporation for an undisclosed amount. The property is located across the street from a Nissan plant at 611 Enon Springs Rd. in Smyrna.
CHARLOTTE, N.C. — Irvine, Calif.-based Quality Custom Distribution Services has leased 60,000 square feet of warehouse space from an undisclosed landlord. The property is located in the Gateway Distribution Center in Charlotte. QCDS was represented by Rob Speir of Charlotte-based Keystone Partners and John Simmons of Medford, Mass.-based Corporate Realty Advisors. Charlotte-based Clarus Properties’ Lawrence Shaw represented the landlord.
FORT PIERCE, FLA. — Blue Beacon International has purchased a 4.41-acre outparcel from Flying J for $401,000 and will develop a truck washing facility on the land. The site is located on Orange Avenue in Fort Pierce. Flying J is selling its excess holdings nationwide as part of its bankruptcy plan. Stuart, Fla.-based NAI Southcoast’s Boyd Bradfield and Nikolaus Schroth represented Flying J in the transaction.
ORLANDO, FLA. — A joint venture between The Praedium Group and Tower Realty Partners has acquired the 317,521-square-foot Quorum Center Orlando from USAA Real Estate Co. for $29 million. The 13-building office park is located on Vineland Road. The property, which was built in 1987, is 85 percent occupied. Mark Lippmann and Clifford Stein served as in-house representation for Praedium. Ronald Rogg of CB Richard Ellis’ Orlando office represented the seller.
ATLANTA — Kaiser Permanente has signed a lease renewal with Glendale, Calif.-based American Realty Advisors for 206,000 square feet of space in Piedmont Center. The tenant has occupied three buildings in the center, which is located on Piedmont Road in Atlanta, since 1993. David Demarest and William Propst of Jones Lang LaSalle’s Atlanta office and Rita Robison of the firm’s Washington, D.C., office represented the tenant. PC Management Co.’s Lee Caswell represented American Realty Advisors in the transaction.
CHAPEL HILL, N.C. — Madison Marquette will soon start renovating the 366,000-square-foot University Mall as part of a multi-million dollar improvement plan. Completion is expected in November. The property, located on Route 15/501 in Chapel Hill, will receive new lighting, flooring, paint, furniture and a modular stage.
MANDEVILLE, LA. — A 59,051-square-foot Albertsons has moved into a space in the Premier Centre retail development formerly occupied by A&P Sav-A-Center. The Mandeville center also houses Stein Mart, Rack Room Shoes, TJ Maxx, Hallmark, Banana Republic, Victoria’s Secret and Ann Taylor Loft. Before Albertsons moved into the property, Premier Centre’s anchor spot had been vacant for more than 18 months.