Parsippany, NJ (July 15,2005) — Coldwell Banker Commercial^®, one of the largest franchisers of commercial real estate brokerage firms, has announced the following affiliate transactions:

Arizona

• Steven Schnitzer of Coldwell Banker Commercial Metro LLC in Phoenix represented Zuheir Properties Inc., which bought 10 acres of land on SEC El Mirage Road and Buckeye Road. The sellers, who sold the land for $1,306,800, were Avondale Land Partners LP; they were represented by Laney Brandt of Dan Schwartz Realty. Zuheir plans to build a shopping center on the land.

Florida

• Harry Champell and Dennis Sargent of Coldwell Banker Commercial NRT in Maitland represented both the buyer and seller of a 77 unit apartment complex located at 1101 Lee Road in Orlando. The buyer, Kingswood Holdings, LLC, purchased the 46,269 square footage complex for $3.465M from The Lester E. Ginkel Trust.
• Victor F. Suhweil of Coldwell Banker Commercial NRT in Maitland was the agent for the sale of a 51 unit complex located at 5601 N. 22nd Ave in St. Petersburg, FL. Suhweil represented the seller, Palm Villa Apartment Partnership; the complex was purchased by Palm Villa Apartments LLC for $2.7M. The buyers were represented by Erlene Fitzpatrick of All Florida Realty & Auction, Inc.
• Mike Carr, Sr., of Coldwell Banker Commercial NRT, represented East Naples Fire Control and Rescue Unit, which purchased 1.75 acres of land located at 4711 Outer Drive in Naples for $1.65M from M.G.M. LLC, who were represented by Richard Tucker, also of NRT. Plans are to build an office building for the Fire Control and Rescue Unit.
• Coldwell Banker Commercial NRT also represented both parties in a transaction involving 318 acres of land on Pine Island Road in Pine Island, FL. Richard Naedel of NRT worked with the seller, Russell M. Setti & RMS Holdings, LLP & Eagles Landing at Pine Island, Inc., and buyer, Midwest Exchange Company, on the $3.9M property. Midwest Exchange Company intends to build 180 multihousing units and 95 one-acre estate lots in the next several months.

Hawaii

• Bill Pratt of Coldwell Banker Pacific Properties in Honolulu handled the sale of a 67,202 square foot, fully leased office building located at 1168 Fort Street Mall in Honolulu. The building, called "Model Progress," sold for $6.8 million, and is 100% tenant-occupied. Pratt represented the buyer, Niu Pia and Company. The seller was Fort LLC; their representation was Colliers Monroe and Friedlander.

Indiana

• Kurt Mathewson of Coldwell Banker Commercial Realty Services in Indianapolis represented seller KLM Rockville, LLC, in the sale of 5389 Rockville Road in Indianapolis to RP Wurster, LP. The 21,600 square foot retail shopping center, which consists of eight stores, sold for $2.4 million.

 

Nevada

• Eric Bassford of Coldwell Banker Commercial ETN in Las Vegas represented College Park Realty CO. in the sale of 1.41 acres of vacant land located at NEC Las Vegas Boulevard and Civic Center Drive. GPN, LLC purchased the land for $1,050,000; their representation was not disclosed.

New Jersey

• Coldwell Banker Commercial Feist & Feist Realty Corp. in Cranbury handled the lease renegotiation for Princeton Lightwave Corp., which is located in Cranbury, NJ, in an office building at 2555 Route 130. John Horan represented the lessee, Princeton Lightwave Corp., in the 20,000 square foot deal. The lessor was South Brunswick Industrial Park. The lease is for 10 years.

Ohio

• Coldwell Banker Commercial United Realty Services recently handled the sale of Westar II, an office building located at 550 Polaris Parkway in Westerville, OH. Ron Kitchton and Mike Tabor of Coldwell Banker Commercial United Realty represented Cabot Investment Properties, who purchased the 140,000 square foot building for $18.8M from Westar/Polaris Office II LLC. The seller was represented by the Damiler Group. 

Oklahoma

• Coldwell Banker Commercial Bob Bernhardt Associates represented both the buyer and seller in a property management assignment worth $3.1 million in Mustang, OK. Agents Michael A. Jenkins, Derek Federinko, Joe Sosky and Trevor Sosky of Coldwell Banker Commercial Bob Bernhardt Associates, based in Vancouver, WA, handled the transaction of 1001 E. State Highway 152, which counts among its tenants Radio Shack, Blockbuster, SuperCuts, Advance America, and Payless Shoes.

Virginia

• Coldwell Banker Commercial Capitol Realty Services brokers Kirk Boyd, Jude Collins and Bob Walker represented lessee Gray Hawk Systems Incorporated on a lease transaction of the fifth floor of 1951 Kidwell Drive in Tysons Corner, Virginia. The lease for the 33,000 square foot property is for 10 years+8 months; the lessor was New Boston Fund.