12/14/2007

NAI Capital finalizes $13.9M in industrial/retail sales

by

K-Mart

NAI Capital has closed on three properties valued at $13.98 million. The transactions cover three states -- Florida, Georgia and California -- and contain more than 400,000 square feet.

In the first deal, AESTRUST-Milton, Fla., purchased a 94,841 square foot K-Mart in the Pensacola suburb of Milton, Fla., for $5.93 million.

Mel Moss of NAI Capital's West Los Angeles office represented the buyer while the seller, Milton Associates, S.C., was represented by Drew Fleming of Shane Associates. The building is located at 6050 Highway 90.

In a separate deal, Force-Sprayberry, LLC purchased a 298,895 square foot industrial building in the Atlanta suburb of Newnan, Ga., for $4.95 million from John Hardy Jones/Alpha Partner, LLC.

Randy Sheinbein of NAI Capital's West Los Angeles office represented the buyer while Jack Haden of Atlanta-based NAI Brannen Goddard handled the negotiations for the seller.

Located at 76 Sprayberry Rd., the building is situated on a 911,275 square foot property and is currently occupied by Rite Aid, which uses the building as a warehouse facility.

In the third transaction, Michael Schiff of NAI Capital's Westlake Village office brokered the sale of a 6,322 square foot retail building for $3.1 million to an undisclosed private investor. The property is currently 100 percent leased to Buca Di Beppo, a family-style Italian eatery.

It is located at 17500 Encino Blvd., on a 30,056 square foot property. Buca, Inc. has five years remaining on its lease.

Address: 6050 Highway 90, Milton, Fla.
- 76 Sprayberry Rd., Newnan, Ga.
- 17500 Encino Blvd., Encino, Calif.

Size: 400,058 square feet

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Filed Under: Mixed Use

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