ORLANDO-Resham Lally and his son, Raj paid Byron "Sonny" King III $5 million or $1.73 million per acre ($39.72 per sf) for the 73-year-old, 2.89-acre Orange Buick-GMC Truck Co. business at 3883 W. Colonial Dr., the largest industrial deal of its kind in the last 10 years, according to Orange County Property Appraiser records.

MOORESVILLE, NC-The New York-based real estate investment banking firm is providing the funds to Corporate Property Associates 14 Inc. for 145,000-sf facility in Mooresville, NC, which calls itself Race City USA.

MIAMI-The Coral Gables, FL-based commercial and residential developer has named Tom Gillette regional manager to handle day-to-day operations and manage the company's 1,100-acre Bartram Springs residential project at Phillips Highway (U.S. 1) and Racetrack Road in Duval County.

HAINES CITY, FL-The 30-year-old, 1,000-acre, picture postcard property, 50 miles south of Downtown Orlando, will shut down tomorrow (Feb. 22) after its foreign owners voluntary filed a Chapter 7 liquidation petition with the U.S. Bankruptcy Court in Tampa. Liabilities are expected to exceed $50 million.

TAVARES, FL-The six-story, $129 million, 450,000-sf Florida Hospital Waterman, going up in a city of 9,000 permanent residents 30 miles northwest of Downtown Orlando, is doubling land prices and forcing entrepreneurs to look hard for new developable land.

TAMPA, FL-The Oakbrook, IL-based REIT paid U.S. Income Retail Fund LP $5.96 million or $88.52 per sf for the 67,327-sf Shoppes Citrus of Citrus Hill, FL and $8.59 million or $124.63 per sf for the 68,924-sf Steeplechase Plaza in suburban Ocala, FL, 80 miles northwest of Downtown Orlando.

ATLANTA-The Oakbrook, IL-based REIT acquired the 131,649-sf, 95%-leased shopping center in Roswell, GA from the 6955 RR Corp. of Atlanta for $24.4 million. The purchase brings Inland's Georgia portfolio to 14 properties totaling 2.35 million sf.

ORLANDO-Local developers Howard Shiefer-Decker, former banker Geoffrey Longstaff and the founder/chairman of NAI Realvest Partners Inc. have opened the first phase of the planned $2.7 million, 69,125-sf Carter Commerce Center in suburban Winter Garden, FL, a half mile from the new Western Beltway and Florida Turnpike exchange, eight miles west of Downtown Orlando.