Trammell Crow Duo Closes $40M in Deals

FORT MYERS, FL-Trammell Crow Co. brokers C. Whitney Knoll and John M. Crossman handled the $40.6-million sale of two locally based shopping centers totaling 566,650 sf and got more than the sellers had expected, the brokers tell GlobeSt.com.

In North Fort Meyers, Knoll negotiated a $21.8-million sale price for Atlanta-based Abrams Properties’ 293,801-sf Merchants Crossing shopping center at 15201 North Cleveland Ave. Noble Management of Greenacres, FL bought the 98%-leased property for $74.20 per sf. “The sale price exceeded the expectations” of Abrams “by more than $1 million,” Knoll tells GlobeSt.com.

At Tamiami Trail and Daniels Parkway, a hot area retail sector, Knoll was able to get $18.8 million for Capri/Capital Advisors LLC of Illinois for its 272,849-sf Cypress Trace retail asset. UP Properties of Omaha, NE paid $68.72 per sf for the property.