Realty Capital Closes $3M in Lease/Sale Deals

ORLANDO-Gearing up for a strong fourth-quarter transactional finish, locally based Realty Capital/TCN Worldwide has closed $3.4 million in leasing and sales deals in the last 30 days.

The firm handled the $1.4 million sale of the 50-unit, 100%-leased Bottlebrush Apartments in Palm Bay, FL to Bottlebrush Apartments Inc. of Palm Bay. New York-based SE Residential East LLC sold the Flagler County property for $27,500 per unit. Realty Capital vice presidents Edward P. Rogner Sr. and Karen A. Rogers oversaw the transaction.

In a second sale, Realty Capital’s Austin Caruso Jr. and his son, Quentin Caruso, negotiated for locally based Hughes Supply Inc. in the $650,000 disposition of a 22,500-sf, 34-year-old industrial building in Leesburg, FL. Dolphin Building Materials bought the 3.8-acre property at 111 North Lake Ave. for $29 per sf. Hughes formerly used the site as a local office (3,548 sf) and warehouse (18,952 sf).

“The property was on the market less than three months,” Quentin Caruso tells GlobeSt.com. Will Walker of Bryan Properties in Tavares, FL represented Dolphin.

On the leasing side, IW Lane College of Integrative Medicine Foundation Inc. is moving into a former 12,040-sf, two-story Nova Southeastern University building Dec. 1. The five-year lease has an estimated aggregate value of $1.1 million. The building, owned by CCCH Holdings LLC, fronts Interstate 4, just south of Lee Road.

Nova Southeastern is moving into its new 60,000-sf Student Educational Center at Millenia later this month. Realty Capital senior vice president James A. Wilder and company partner M.W. Jeffrey Brock represented CCCH.

The father-son Caruso team also participated in the three-year, 10,210-sf lease signed by locally based Parcel Solution at Airport Distribution Center owned by Chicago-based RREFF Funds. That lease has an estimated aggregate value of $200,000. David Murphy of CB Richard Ellis Inc. negotiated for the owner.