Parsippany,
NJ (July 20, 2006) — Coldwell Banker Commercial Affiliates, Inc., one
of the leading franchisers of commercial real estate brokerage firms,
has announced the following notableaffiliate transactions:
California
Coldwell Banker Commercial Almar Real Estate Group facilitated the
sale of a 144-unit Cape Cod-style apartment community for seniors in
Alpine. Creekside Meadows, a 14.05 acre community encompassing a total
of 18, two-story residential buildings, a swimming pool, two spas, a
recreational clubhouse, carports and laundry facilities, was sold for
$16,140,000. Tom Olson and Ron Beck represented the seller, Alpine
Creek Company, while the buyer, Alpine Creekside, LLC, was represented
by Tony Albin of Colliers International. Financing services for the
transaction were provided by John Hancock Life, Inc., and Stewart Title
Company provided the property title.
Lon Maples of Coldwell Banker Commercial Foothill Properties in
Calimesa represented Pine Mountain Development, LLC, in its purchase of
25.05 acres of land zoned for commercial use. The buyers purchased the
land from the State of California for $7,050,000. The State Department
of Real Estate represented California in the sale. The buyers plan to
use the land for retail development and are currently negotiating with
big box stores.
Florida
Coldwell Banker Commercial Saunders Real Estate represented both
parties in a land transaction conducted in Polk City. Dean Saunders and
Jim Allen represented KJ Holdings, which sold 1,035 acres of land in
Polk City to R&N Krieger, which purchased the land for $4M. Plans
are to build a ranch on the location. Dustin Kirby represented the
buyer in the transaction.
Coldwell Banker Commercial NRT in Maitland:
- Coldwell Banker Commercial NRT handled the sale of a 20,308 square
foot multi-tenant office building located at North Semoran Boulevard in
Orlando. Klekamp Cimmarron, Inc. sold the property for $3.75M to
Semoran Park Condominiums, LLC. The sellers were represented by Glenn
Swidler of Coldwell Banker Commercial NRT and Sana Lel-Massaoudi of
Coldwell Banker Residential; Jorge Senior of JS Global Investment Group
represented the buyers. The building is located in a high visibility
location and sits on a 1.02 acre site. It is 95% leased.
- Paul Hoffman represented the seller, Ann Takvorian, of 18.86
acres of industrial land on Beardall Avenue in Sanford. The land was
sold to Delpini Industrial Park at Southern Cross, LLC, for $2.55M. The
site is located near the Lake Mary Boulevard Extension at the SR
46/Highway 27 intersections, and east of the Orlando-Sanford
International Airport. It has a current zoning of RI-1 (restricted
industrial, city of Sanford), and a future land use of AIC (airport
industry and commercial). Michael Pesce of ERA Breese Craft Henley was
the broker for the buyer.
F. Victor Suhweil of Coldwell Banker Commercial NRT in Clearwater
handled the sale of a 24,162 square foot assisted living facility in
New Port Richey. The 76 unit facility, on 2.92 acres, was sold by
Barbara Jean Masco, successor trustee, Forest Glen Lodges, Inc., and
Jean Masco Abdul-Malke, trustee to Edward G. Hayes, intermediary for
Margaret Coffey, and Assisted Living of Pasco, Inc., for $3.15M.
Camelot, Inc represented the buyers.
Henry Rogers and Val Bostwick of Coldwell Banker Commercial
Nicholson Williams Realty in Jacksonville represented the buyers in the
purchase of a Wendy’s restaurant on Lem Turner Road in Jacksonville.
Ramsey 20, LLC, sold the 3,200 square foot fast food establishment for
$2,115,000 to Margaret Bowden Adams. The seller was represented by
Robert Crider of BD Holdings, Inc. This sale was the third in a series
on 1031 exchanges providing funding for step-ups from the original base
for the buyers.
Minnesota
Mike Schmitt of Coldwell Banker Commercial Orion Real Estate in St.
Cloud handled the sale of the Space Aliens Grill and Bar on 2nd Street
South in Waite Park. The 20,000 SF net leased investment property, that
has a cap rate of 9%, was sold for $2.2M by B&M Rentals, Inc. The
buyers were Steven and Paula Jenkins.
Missouri
Coldwell Banker Commercial CRA LLC in St. Louis:
- Carl Concellor, SIOR and Bert Solomon of Coldwell Banker Commercial
CRA LLC represented the seller in a $4.65M land sale in Shiloh. Land
Trust A & B sold 66 acres of land at the intersection of Frank
Scott Parkway and Green Mount Road in Shiloh to Cornbelt Bank &
Trust Company, Trustee of Land Trust #125. While the developer has not
disclosed the scope of the development, the land will either be used
for a mixed use development or planned unit development.
- Noel T. Fehr of Coldwell Banker Commercial CRA LLC
represented the buyer in a $2.95M industrial sale, also in St. Louis.
BG Services Property Management, LLC, purchased the 26,970 square foot
property located at 400 Axminister Drive from John and Rose Butler,
LLC. The sellers were represented by Jennifer Johnson of Real Estate
Brokers.
Wisconsin
Coldwell Banker Commercial NRT in West Bend represented both buyer
and seller of Synergy Health Care, a 26,000 square foot, six unit
multitenant retail and office space on 3.7 acres on the southeast side
of West Bend. Great Falls Properties LLC sold the property to Leisure
Investments, LLC, for $4.5M. Dan Truog handled the transaction for both
parties.
