Great Northern Investments buys a Warehouse

FORT MYERS, Florida - Net Lease Properties news for today comes from Fort Myers, on the west coast of Florida. Great Northern Investments LLC recently purchased a 41,648 square foot warehouse building on Eighth Street West, south of Lee Boulevard. The purchase price was $2.54 million. This price equated to $61 per square foot of building space. The building, which sits on a 2.9 acres parcel, is currently leased to LeeSar Great Northern Investments for its record storage and management offices.
The property is located at 5597 Eighth St. W., in Lehigh Acres. It is approximately 7 miles east of Fort Myers.
Bob Johnston and Jerry Messonnier with Grubb & Ellis, 1st Commercial LLC represented the seller, Westgate Medical Records LLC. The buyer was represented by Tom Daugherty of Daugherty & Associates.
The building is leased to a documents storage company.
It was built in 2005, the facility features a two-story 6,400-square-foot office space and a 7,000-square-foot clean room.
The purchase price equated to a healthy 8.7% cap rate. Our Commercial Real Estate Investors are looking for similar cap rates on net lease properties.
"NNN Palm Beach"

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If a Multifamily Apartment Complex is of interest to you then contact us, HERE. We can also assist you with your Commercial Loans and Net Lease Funding to purchase a CVS, FedEx, Walgreens, Target, Publix or another Net Lease Property.

RCC Associates to renovate Victoria’s Secret

BOCA RATON - Limited Brands has selected award-winning buildout contractor RCC Associates to renovate its popular Victoria’s Secret store at Boca Town Center. This renovation will include a 3,000 sf addition to showcase the company’s very successful Pink brand.
The new Pink addition and the renovation of the existing 8,176 sf Victoria’s Secret store will give the retailer a total of 11,176 sf.
The completion of the renovation is set for August, and the Pink addition is anticipated for completion in late October.
RCC Associates has completed more than ten buildout assignments for Victoria’s Secret. They built a Victoria’s Secret Pink location on Lincoln Road in Miami Beach just last year.
The Boca Town Center store will continue operation during the renovation and addition.
The Architect for this project is Steven Craig Nelson of San Francisco, California.
The collection of stores at Boca Town Center is so impressive that it is one of the absolute best malls in the entire State of Florida. It is also currently the largest shopping mall in Palm Beach County. This Mall is located between 2 highly traveled signalized corners on Glades Road in Boca Raton.

Wade Trim connects with Dunedin

TAMPA - Tom Brzezinski, PE, executive vice president of Wade Trim which is a civil engineering and planning firm, has taken on the role of chief business development officer. Brzezinski works his expertise from Wade Trim’s Tampa office at 8745 Henderson Road.
One of many projects Wade Trim is currently working on is the Dunedin’s Master Plan update. After 20 years of successful implementation of their original Master Plan, Dunedin, FL, has gained the recognition of being one of “America’s Most Walkable Cities” and one of the “Best Places to Live” as described by Money Magazine.
The City is ready to take their Downtown area to a higher level by making better use of assets such as the marina/waterfront, the Pinellas Trail, and ongoing redevelopment projects, while maintaining Dunedin’s unique. Perhaps NNN Palm Beach can find a lucrative investment in the area. Dunedin is 23 miles west of Tampa.
Wade Trim is assisting with the City’s Downtown Master Plan update by coordinating an intensive community outreach program to identify new challenges and opportunities.
Besides the Tampa Office, Wade trim has a beautiful office at 3300 PGA Boulevard in Palm Beach Gardens. Another unique office of Wade Trim sits at 500 Griswold Avenue, in Hockeytown otherwise known as Detroit. This Detroit office is their Corporate Office.

Tallahassee KFC Restaurant sells for $1.8M

TALLAHASSEE - Envision Credit Union recently bought a Kentucky Fried Chicken for $1.8 million. The restaurant is at 3519 Thomasville Road, in Florida’s capital Tallahassee. Envision Credit Union does plan on converting this property into a credit union site.
Sperry Van Ness worked the deal. The transaction was negotiated by Ted Bollmann and Chris Marino of Sperry Van Ness - SouthLand Commercial.
The KFC consists of a 3,500 sf building on 0.67 acres and it has shared access and parking with a proposed Publix.
Envision Credit Union has their Main Office at 440 North Monroe Street, in Tallahassee.
This is not a NNN "Commercial Corner" however it is a nice location.

Dollar General Sale in Polk City

ORANGE CITY - The Polk City Dollar General Store sold recently for $550,000.
Mr. Bob Manor of Coldwell Banker Commercial AI Group, in Orange City negotiated the sale. of a to a St. Petersburg company. Bob Manor represented the seller, Sand Dollar LLC of Fort Smith, Arkansas.
The buyer was R2 Property Company Ltd. They were represented by Bob White of Bob White Realty, of St. Petersburg.
The store is 8,000 sf and is located at 620 Broadway Blvd. S.E. This location is 2 blocks from Hungry Howies Pizza & Subs‎.
Polk City is 47 miles north east of Tampa Bay.
"Florida NNN Commercial Real Estate"

WBS Properties purchases Grand Oaks development

PALM BEACH - WBS Properties which is a subsidiary of Estates of Grand Oaks LLC has just closed on the 40-acre lakefront development of Grand Oaks, in Avon Park. Avon Park is approximately 122 miles, north west of NNN Palm Beach headquarters.
This gated community consists of 127 finished lots, according to a press release from the company. Also, there are 25 premium lakefront lots which have unobstructed views of the 280-acre Lake Damon. The 100 other lots are located on well landscaped and buffered cul-de-sac streets.
The purchase price was noted to be $1.4 million.
The new owners, Estates of Grand Oaks LLC, are very seasoned Commercial Real Estate owners and developers, throughout the southeast. Currently the company owns the shopping center in Avon Park where a great Publix is located.
The new owners were represented by Steven Aberman of Brookside Realty Corp., in this transaction. The sellers were represented by Chip Boring of RE/MAX.
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Commercial Property: Bank Loan Program

ALTAMONTE SPRINGS, Florida - Mercantile Capital Corporation is a Florida based firm that ranks as one of the nation’s leading providers of U.S. Small Business Loans. Mercantile Capital Corporation has Administration (SBA) 504 loans for small business owners who want to acquire or expand their operations. They have announced a new Community Bank Loan Program.
The company will provide financing for bank clients who have projects outside of the bank’s lending parameters and geographic areas. Some examples are special-use properties like restaurants, daycare facilities and marinas. This program is greatly needed as Florida has some of the finest deepwater Marinas.
Through Mercantile’s Community Bank Loan Program, banks would be able to offer their small business clients up to 90% financing (including closing costs) to purchase or construct owner-occupied commercial property.

NNN Commercial Real Estate in Florida

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St. Pete's Indoor Car Racing Venue

TAMPA - A new businesses venture has opened up for Bertrand Ollier, it is the Tampa Bay Grand Prix. It is a unique indoor car racing venue for amateur car racing enthusiasts.
Ollier has signed a lease for approximately 40,000 square feet of space. The described lease is for the entire industrial building at 12350 Automobile Blvd. in Clearwater. His real estate advisor for this project is Jon Slater.
Mr. Slater is Managing Director of the international commercial real estate services firm, Studley.
In 2004, Studley established its 18th office in Tampa, Florida, in order to better serve tenants in the burgeoning Florida office market.
Ollier will specialize in hosting corporate events, but will also accommodate families.
The landlord for this fine space is Automobile Boulevard LLC. Automobile Boulevard LLC was represented by John Jenkins and Brooke Pillinger of CB Richard Ellis.
This future indoor car racing venue is only 4.5 miles south of PIE, aka St. Petersburg-Clearwater International Airport.
"NNN Palm Beach Commercial Real Estate"

Happy Fourth of July!

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