Sale closes on Videojet headquarters

Wells Real Estate Investment Trust Inc. recently sold Videojet Technologies' headquarters building in the Chicago suburb of Wood Dale, Ill., for an undisclosed price.

Prudential Real Estate Investors, on behalf of a single client account, purchased the property. Videojet, a manufacturer of coding, printing and laser marking products, remains in the building under a 15-year lease signed last fall.

Wells REIT purchased the 250,000-square-foot flex office/industrial facility at 1500 Mittel Blvd. in 1999.  more...

Investcorp sells in southwest Florida

Investcorp Real Estate Group recently sold Cypress Point Shopping Center, a 166,933-square-foot retail property in Clearwater, Fla., for an undisclosed amount.

Ramco-Gershenson Properties Trust purchased the property, which was 97 percent occupied at the time of sale and includes anchor tenants Burlington Coat Factory and Fresh Markets. It is located along U.S. Highway 19 North, the primary north-south commercial roadway in Pinellas County.

New York-based Investcorp acquired Cypress Point in November 2004, according to a press statement.

O.C. apartments bought for $197 a square foot

NAI BT Commercial negotiated the sale of a 246-unit Orange County, Calif., apartment community for a price of more than $43 million.

Park Place Fund Ltd., a Southern California-based family partnership, sold the property in Tustin to San Francisco-based Carmel Partners.

Park Place had owned the property since it was built in 1969. Situated on 5.6 acres, the unit mix comprises 206 flats and 40 townhouses, all with two bedrooms and 1.5 baths.

Carmel Partners plans to extensively renovate the property, which is located at 16282 Main St.