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Solaris Paper has signed a build-to-suit lease in Shenandoah County, Va.
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SOLARIS PAPER SIGNS BUILD-TO-SUIT LEASE IN SHENANDOAH
SHENANDOAH COUNTY, VA. — Solaris Paper has signed a 10-year build-to-suit lease for 406,000 square feet at the North Shenandoah Industrial Park in Shenandoah County. BPG Development will oversee the development and construction of the 29-acre project on behalf of the landlord, BPG Investment Partnership VIII and VIII A. Construction will begin this month, and the project is scheduled to complete fourth quarter. The site has been designed and approved for up to 100,000 additional square feet. John Lesinski and Joshua Gurland of Winchester, Va.-based Leland Group Commercial Real Estate were the sole brokers and exclusively represented the landlord. The property is located near the intersection of Interstate 81 and I-66.
FORMER WAL-MART SELLS FOR $6.5 MILLION
PUNTA GORDA, FLA. — Charlotte 41 Properties has acquired a 97,210-square-foot former Wal-Mart retail building in Punta Gorda, from Wal-Mart Stores, Inc., for $6.5 million. The property is located at 3811 Tamiami Trail. Allen Molin of CB Richard Ellis’ Fort Myers-Naples, Fla., office represented the buyer, and the seller was represented by Larry Foster and Bill Young, also of CB Richard Ellis.
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Home-Towne Suites has acquired two Mainstay Suites hotels in Anderson, S.C., and Kannapolis, N.C.
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HOME-TOWNE SUITES PURCHASES TWO MAINSTAY PROPERTIES
ANDERSON, S.C., AND KANNAPOLIS, N.C. — Home-Towne Suites has acquired two Mainstay Suites hotels in Anderson and Kannapolis, from David Drye Co., for a total of $6.4 million. In Anderson, the hotel property features 79 rooms, a swimming pool and a business center. In Kannapolis, the hotel features 80 rooms and a business center. Ed James of The Mumford Company’s Newport News, Va., office, Tom Sommer of its Chicago office and Steve Kirby of its Atlanta office were the sole brokers in the sales transaction and exclusively represented the seller. The buyer intends to renovate the properties for operation as core brand products.
KUEHNE + NAGEL LEASES SPACE AT AMB PALMETTO DISTRIBUTION CENTER
ORLANDO, FLA. — Kuehne + Nagel has leased 141,000 square feet at AMB Palmetto Distribution Center in Orlando, located near Interstate 4 and Highway 27. The tenant will utilize the space as its dedicated distribution and warehousing activities to support the Flordia operations of an entertainment customer. Bayne Porter and David Murphy of CB Richard Ellis’ Atlanta office represented the lessee, and the landlord was represented by Kevin Hoover of CB Richard Ellis’ Orlando office.
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