The deal took only 30 days to do, Quentin Caruso of Orlando-based Realty Capital/TCN Worldwide tells GlobeSt.com. "The office/warehouse market is getting better but most of the deals that have been completed lately are smaller ones, less than 25,000 sf," Caruso says.
However, the broker says, he is "starting to see the larger needs [of tenants] poking their head out." He says, "positive cash flow is driving the investment sales market."
Atlanta-based Camp Investments LP owns the Fleetwash-occupied building and an adjacent 20,650-sf structure at 1801 Premier Row. The 1807 building was constructed in 1966 with an addition in 1983.
Michael Shelton negotiated for the tenant. Shelton started in the deal as a broker with Grubb & Ellis Co. and later joined Coldwell Banker Commercial NRT. Caruso represented the owner. Caruso represented the owner.
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