DORAL, FLA. — Nippon Express USA has signed a 171,000-square-foot lease renewal with an entity controlled by Seagis Property Group for space in a Doral warehouse. The property, which is Nippon’s Latin American distribution center, is located at 2900 N.W. 112th Ave. Steven J. Medwin, Harry Wardell and Nick Wigoda of Lincoln Property Co.’s Miami office represented the tenant. The landlord represented itself in the lease.
Southeast
ROCKVILLE, MD. — BAE Systems Technology Solutions & Services has signed a lease with an undisclosed landlord for a 139,120-square-foot building. The property is located in the 350,000-square-foot Redland Corporate Center at 520 Gaither Rd. in Rockville. Silver LEED certification is being pursued for the property, and the building meets GSA setback and security requirements. Cresa Partners’ Gene Sachs, Paul Ehrenreich, Lauren Hodgin and Andrew Corner represented BAE. Larry Thau, Jim Cahill and Dave Macklin of CB Richard Ellis represented the landlord.
ST. PETERSBURG, FLA. — California-based Makabe & Makabe has purchased the 80,703-square-foot Tyrone Corners Shopping Center from an undisclosed seller for $10.5 million. The property is located across the street from Tyrone Square Mall at 2500 66th St. N. in St. Petersburg. Tyrone Corners is anchored by JoAnn Fabrics, HomeGoods, Panera Bread, AT&T Wireless, Keva Juice and Chick-fil-A. Richard Tarquinio and Christina Monacelli of CB Richard Ellis’ Boca Raton, Fla., office and Mark Shellabarger of the firm’s Tampa office represented the seller.
GULF SHORES, ALA. — Connexion Technologies will open its Gulf Shores facility, located at 1240 Commerce Dr., Thursday. The property houses a regional call center and an operation center helmed by Accerlera Services. Connexion will also occupy space in the building. More than 80 workers will staff the new property.
ATLANTA — The Real Estate Investment Advisory Council has joined forces with Georgia State University’s Real Estate Alumni Group to present events concerning the real estate world. The companies will hold Views from the Green, an annual golf tournament for the alumni association, on November 3 and the Views from the Top event in early January.
FREDERICK, MD. — Clemson Corner LLC has purchased 37 acres of land for $6.5 million to develop the 380,00-square-foot Clemson Corner Shopping Center. The property will be located at the intersection of U.S. Route 15 and Maryland Routes 26 and 355 in Frederick. PNC Real Estate Finance provided an acquisition loan and will fund construction of the $29.5 million project. Projected anchors include Wegmans, Lowe’s Home Improvement Warehouse and Marshalls. Delivery is expected in spring 2011.
ANDERSON COUNTY, TENN. — Carter Logistics has purchased the 48,000-square-foot Flowers Bakery property from an undisclosed party for $2.1 million. The warehouse is located on 19 acres in Anderson County’s David Jones Industrial Park and will be used as a cross-dock facility to support Toyota Motor Engineering and Manufacturing North America. Bob Thornton of Baker Realty Co. represented the seller.
GARDEN CITY, GA. — Brad Cox of Thomas D. Wood & Co. has arranged a $4.29 million loan for a 14,490-square-foot Walgreens in Garden City. The property is located at the intersection of Georgia Highway and Minus Street in Garden City. The 24-year loan carries a 7.15 percent interest rate and a loan-to-value rate of 91 percent.
FALLS CHURCH, VA. — The U.S. Government has signed a lease renewal with Carr Properties for more than 113,000 square feet of space in its Suffolk Building office property. The seven-story office building is located at 5611 Columbia Pike in Falls Church. The property was renovated in 2001 and extra security measures were installed in 2005 and 2008. Kurt Stout, Charles Dilks and Keith Lavey of Grubb & Ellis’ government services group brokered the lease.
In the stifling heat of August, the Charlotte office market seemed stagnant and weak. According to Jones Lang LaSalle, Charlotte lost nearly 13,000 jobs in the first two quarters of this year, pushing the unemployment rate to 12 percent. Year-over-year, second quarter office leasing activity fell 32 percent. To further paint a grim picture, Jones Lang LaSalle predicts that downtown Charlotte is in for a double-digit vacancy rate, due to the 2.5 million square feet of office space that will see completion in the next 18 to 24 months. In reality, the future of the Charlotte office market is much brighter than it looks on paper. “At the street level, a lot of brokers remain pretty busy. There are still deals being done; they’re just taking longer,” says Tim Bahr of Charlotte-based NAI Southern Real Estate. It’s also happens to be the tail end of vacation season, and everything, commercial real estate included, is a bit more sluggish during the twilight of summer than during the rest of the year. “This time of year is typically slow, and with the economy, it just seems like that’s amplified things a bit,” he says. The office spaces that are frequently being occupied …