TIC investors sink money into Florida

Spectrus Real Estate Group on Wednesday announced it brokered the sale of Avenues North Center in Jacksonville, Fla., to 30 tenant-in-common owners.

Neither the value of the transaction nor the seller's identity was disclosed.

Avenues North Center is a 98,749-square-foot, multitenant shopping plaza comprised of a single story. Built in 2004-2005, the property was 89 percent leased at the time of sale to eight tenants including Basset Furniture, Sofa Express, and Leather Avenue and Home Theatre.

KBS grows Texas holdings

KBS Realty Advisors has purchased a 98,750-square-foot, class A office building in Plano, Texas, for an undisclosed price.

The three-story property, Parkwood Place I, is located at 5601 Democracy Drive. It was built in 2006 and was 83 percent occupied at the time of sale.

Myers & Crow-Kennedy Real Estate Advisors sold the facility.

With the acquisition of Parkwood Place I, the KBS portfolio in Texas now totals more than 8 million square feet, including more than 2.4 million square feet in the Dallas/Fort Worth area.

Woodlark gains units near Ball State University

Woodlark Capital LLC on Wednesday announced it acquired the Forest Oaks Apartments in Muncie, Ind., on behalf of tenant-in-common investors.

The value of the transaction was $8.4 million.

Forest Oaks is a 136-unit apartment complex serving the student, faculty and local professional population connected with Ball State University.  more...