DEBARY, FLA. — Cotter-Ryan Commercial has commenced construction on a 20,000-square-foot office building at SummerHaven Professional Center. Under development by SummerHaven Professional Center LLC, the building is located on Enterprise Road in DeBary. Construction of the three-story building will cost $1.5 million. Delivery is expected next March.
Southeast
CLEARWATER, FLA. — Perma-Liner Industries has signed a 7-year lease on a 30,000-square-foot warehouse. Further terms of the lease were not disclosed. The company will use the building, located at 13000 Automobile Blvd. in Clearwater, as the headquarters of its underground utility piping and installation operation. Bill Alton and Dave Tower represented Perma-Liner in the transaction.
COVINGTON, LA. — Colonial Properties Trust and Robert B. Aikens & Associates have broken ground on the 1 million-square-foot Colonial Pinnacle Nor du Lac. The $240 million development, located in St. Tammany Parish in Covington, will feature a hotel, 35,000 square feet of office space and 115 retailers and restaurants. Future tenants include Mignon Faget, Dillard’s, Kohl’s, Barnes & Noble and Dick’s Clothing and Sporting Goods. The project is slated for delivery in October 2009.
SPOTSYLVANIA COUNTY, VA. — Fort Lauderdale, Fla.-based Morgan Property Group plans to develop the Shoppes of Rollingwood Drive on 3 recently purchased acres in Spotsylvania County. The center, located at Courthouse Road and Rollingwood Drive, is anchored by a 14,820-square-foot Walgreens. Construction will begin next summer.
FORT MYERS, FLA. — Gora/McGahey Associates in Architecture has entered the design phase on a renovation of the Children’s Advocacy Center of Southwest Florida. The 20,000-square-foot building was constructed in 1988 and is located at 3830 Evans Ave. in Fort Myers. The renovation will give the center an aquatic theme, and a mural will cover the walls and concrete floors. Target Builders has been selected as the general contractor.
GREENSBORO, N.C. — 4001 Battleground Avenue LLC has purchased a 13,824-square-foot Rite Aid from Battleground LLC for $4.27 million. Eckerd Corporation holds a 20-year NNN lease on the building, which has 17.5 years remaining with four options every 5 years. Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office represented both parties in the transaction.
COLLIERVILLE, TENN. — Stan Johnson Co. has sold an undisclosed party’s ground lease of a 5,570-square-foot Longhorn Steakhouse restaurant to an undisclosed buyer for $1.84 million. The seller was represented Ken Hedrick and Jerry Hopkins of Stan Johnson and Cary Whitehead, III, of Boyle Investment Co. Commercial Investment Advisors’ Justin Zahn represented the buyer. The Longhorn deal is Stan Johnson’s third ground lease transaction in the past few months.
WINDERMERE, FLA. — The Orlando, Fla., office of Clancy & Theys Construction Co. has broken ground on a 98,797-square-foot elementary school in Windermere. The two-story property includes offices, classrooms, multi-purpose areas, a kitchen and a cafeteria. The $14.2 million project was designed by Orlando-based SchenkelShultz Architecture. Delivery is slated for July 2009.
OCALA, FLA. — Construction is nearly complete on Edwards Construction Services’ 42,000-square-foot CarQuest Distribution Center expansion. Upgrades to the property, located at 1700 S.W. 38th Ave. in Ocala, include relocation of existing tilt-wall panels, structural steel roof framing, installing interior heating and lighting and erecting new tilt-wall panels. The $1.8 million project was designed by Atlanta-based MacGregor Associates Architects.
GAINESVILLE, FLA. — Marking the company’s first foray into Gainesville, HH Gregg has purchased a 29,300-square-foot property from La-Z-Boy Galleries Gainesville for $3.5 million. The building, located at 3606 S.W. 34th St., will join the company’s 12 other stores statewide. Michael Ryals of Bosshardt Realty Services represented the seller, and the buyer was represented by Frank and Camile Gulisano of Summit Realty.