WESLEY CHAPEL, FLA. — Forest City Commercial Development and West Palm Beach, Fla.-based The Goodman Company have signed 42 additional tenants at The Shops at Wiregrass, an 800,000-square-foot lifestyle center in Wesley Chapel, located at the intersection of State Road 56 and Bruce B. Downs Boulevard. The new retailers include American Eagle Outfitters, Barnes & Noble, Coldwater Creek, Fifth Third Bank, Gymboree, Kay Jewelers, Talbots and White House | Black Market. The property is anchored by Dillard’s, Macy’s and JC Penney, and will open in October.
Southeast
TAMPA, FLA. — American Tire Distributors has signed a 147,197-square-foot lease to occupy Building E at Madison Business Center in Tampa, from Atlanta-based IDI. Rick Narkiewicz negotiated the lease on behalf of the landlord, and the tenant was represented by Texas-based Jackson & Cooksey. American Tire Distributors is scheduled to occupy the state-of-the-art facility this summer, which will triple its capacity in Tampa.
TAMPA, FLA. — American Tire Distributors has signed a 147,197-square-foot lease to occupy Building E at Madison Business Center in Tampa, from Atlanta-based IDI. Rick Narkiewicz negotiated the lease on behalf of the landlord, and the tenant was represented by Texas-based Jackson & Cooksey. American Tire Distributors is scheduled to occupy the state-of-the-art facility this summer, which will triple its capacity in Tampa.
TAMPA, ORLANDO, AND BRANDON, FLA. — Cushman & Wakefield has negotiated two office building sales and a land acquisition in Florida, totaling $43 million. Flagler Development purchased Bridgeport Center, a 170,924-square-foot, nine-story office building in Tampa, from AEW Capital Management, for $29.5 million. The property was 95 percent occupied at the time of sale. The seller was represented by Mike Davis and Rick Brugge of Cushman & Wakefield. Rudnick Development purchased Reflections at Hidden Lake, a 96,322-square-foot office investment property in Orlando’s Lake Mary submarket, from an undisclosed seller, for $9 million. Mike Davis, Rick Brugge and Matthew McKeever of Cushman & Wakefield represented the seller. Life Link Foundation acquired 10 acres at Crosstown Center in Brandon, for $4.7 million. The nonprofit organization will develop offices in the 1.1 million-square-foot mixed-use project, bordered by Lee Roy Selmon Expressway and Highway 301. The buyer was represented by Andy May and Bruce Erhardt of Cushman & Wakefield.
CHATTANOOGA, TENN. — BRT Realty Trust acquired by deed, in lieu of foreclosure, a 308-unit garden apartment complex in Chattanooga, in the accordance with the terms of a “walk-away guarantee” provided by the borrower’s principal. The property had secured a first mortgage loan with an outstanding principal balance of $25.7 million.
ROCKVILLE, MD. — Federal Capital Partners, in partnership with Angelo, Gordon & Co., has purchased The Monterey, a 432-unit, 16-story high-rise apartment community in Rockville. Federal Capital will re-establish the property as a Class A complex through a $17 million renovation. The property was 45 percent occupied at the time of sale, and is located at the intersection of Rockville Pike and Montrose roads.
AUSTELL, GA. — John Leonard of Marcus & Millichap’s Atlanta office and Lori Schneider of its Fort Lauderdale, Fla., office have arranged a 14.5-acre ground lease for a 130,948-square-foot Home Depot in Austell, for $9.6 million. The newly constructed Home Depot signed a 20-year triple net lease, which commenced last April. The property is located at the intersection of Floyd Road and the East-West Connector.
CHATTANOOGA, TENN. — Chattanooga, Tenn.-based CBL & Associates has opened a four-story, 76,000-square-foot office building, located at 2034 Hamilton Place Rd. in Chattanooga. The property is adjacent to its headquarters building, CBL Center, and will serve as the headquarters for EMJ Corporation and Vision Hospitality, as well as offer space for additional businesses
SMYRNA, TENN. — Jacksonville, Fla.-based Capitol Development International is building Gateway Centre, a $30 million, 260,000-square-foot shopping center in Smyrna. The center will include a 105,000-square-foot JC Penney department store, slated to open in fall 2009, along with additional retail, restaurants and service businesses. The property is located at the intersection of Sam Ridley Parkway and Wolverine Drive. Construction is slated to begin in May and complete in August 2009.
KNIGHTDALE, N.C. — Charlotte, N.C.-based Crosland is developing Midtown Commons, a 30-acre, 225,000-square-foot retail center located at the intersection of Knightdale Boulevard and Hinton Oaks Boulevard, near the Interstate 540 and Highway 64 interchange, in Knightdale. Phase 1 will include 235,000 square feet of retail space. The property will be anchored by Kohl’s, Best Buy, Dick’s Sporting Goods, T.J. Maxx and PetSmart, as well as 17,322 square feet of additional retail shops and two outparcels. Construction is projected to begin this month, with the first stores opening in November.