Merritt Square Mall sold to Miami group for $32.75 million

Bayview Malls LLC, a division of Miami-based Bayview Financial Trading Group, purchased the Merritt Square Mall in Merritt Island for $32.75 million.

The 497,487-square-foot mall is anchored by J.C. Penney, Sears, Burdines and Dillard's. Burdines and Dillard's own their respective pads and were not included in the sale.

The mall was built in 1970. The Sears wing was added in 1988, and extensive interior and exterior renovations were done in 1999. Adam Feinstein, director of financial services, and Mark Gilbert, senior director of financial services in Cushman & Wakefield's Miami office, negotiated the sale on behalf of the seller, John Hancock Life Insurance Co.

In other sales activity:

* Atlanta-based developer Watkins Development sold the University Palms Shopping Center in Orlando for $10.86 million to a Florida investment group. Les Aron and David Goldstein, retail investment specialists and top producers in Marcus & Millichap Real Estate Investment Brokerage Co.'s Tampa office, along with Randall Ryan, an Orlando-based Marcus & Millichap retail specialist, negotiated the transaction.

* Trammell Crow Co. (NYSE: TCC) completed a 180,000square-foot, build-to-suit distribution center for the McKesson Corp. in Lakeland. The building was sold for $10.6 million to a United Statesbased net lease investor who represented an offshore bank. Dale Peterson and John McRae, both senior vice presidents of TCC's North Florida investment sales group, handled the transaction.

* Horizon Corp. purchased Maitland Club, a 176-unit apartment complex, for $5.65 million. Senior Director Cole Whitaker and Associate Jay Ballard of The Apartment Group, a Cushman & Wakefield company, represented the seller, Sendera Investment Group.

* CED Acquisitions Inc. purchased 22 acres on John Young Parkway for an undisclosed sum. The firm intends to construct 370 apartments on the site. Wayne Schoolfield of Schoolfield Properties Inc., who is also managing partner and owner of the John Young Business Center, closed the deal. Schoolfield plans to develop the remaining 25 acres as an industrial/business park.

* New York-based Yale Realty Services Corp. purchased the Circuit City Plaza in Altamonte Springs for $9 million. The seller was the Tampa office of Netherlands-based Euro American Advisors.

* Saul and Netty Silber purchased two apartment complexes in Gainesville. Regency Oaks Apartments, a 148-unit complex, was sold by Regency Oaks Apartments LLC for $6 million, and Country Garden Apartments, a 99-unit complex, was sold by Country Gardens Apartments LLC for $3.65 million. Debbie Clark, Paul Guyet and Robert E. Smith, all of Smith Equities Corp. in Orlando, negotiated the transactions.

* Colbert Lane and Swan Lake MHP purchased a 394-acre parcel in Flagler County for $3.3 million. Patrick Chisholm of Maury L. Carter & Associates Inc. represented the seller, Daryl M. Carter, trustee of Carter & Flagler Land Trust.

* HR Orlando LLC purchased a 71,615-square-foot groceryanchored shopping center on 8.26 acres at 1537 W. Orange Blossom Trail in Apopka for $2.8 million. Glen Spivey of The Spivey Group and Jonathan Satter of Compass Realty Advisors brokered the transaction. LaSalle National Bank was the seller.

* Test Equipment Connection Corp. purchased 30 Skyline Drive, a 39,000-square-foot office/warehouse property in Lake Mary, for $2.24 million. David Chapin of Grubb & Ellis represented the buyer, and Scott Annan of CB Richard Ellis represented the seller.

* Chester C. Fosgate Co. sold two parcels of its Skytop property in Clermont. South Lake Hospital purchased approximately 27 acres for $2.7 million. Daryl M. Carter, president of Maury L. Carter & Associates Inc., represented the seller. Premier Promenade Plaza LLC purchased approximately 4.2 acres for $526,000. Patrick Chisholm of Maury L. Carter & Associates Inc. represented the seller in that transaction.

* Adventist Health System/Sunbelt Inc., which operates Florida Hospital, purchased a 51,000-square-foot facility on a 3-acre site at 1919 N. Orange Ave. for $4.5 million. Ted and Bill Bywater of The Bywater Co. represented the buyer, and Ed Furey of PhilJohn Inc. represented the seller, Dr. Phillips Inc.

* East Ridge Properties LLC purchased a 20-acre tract at Steves Road and U.S. Highway 27 in Clermont for $2.19 million. Matt Sullivan, managing director for Colliers Arnold Commercial Real Estate Services Inc. in Orlando represented the buyer, and Colliers Arnold Senior Associate Trevor Hall Jr. represented the seller, Capital Gains LLC General Partner.