GULF BREEZE, FLA. — Publix Super Markets Inc. has acquired Sea Shell Collections, an 87,125-square-foot shopping center in the Pensacola community of Gulf Breeze, for $18.6 million. Publix anchors the center, which was 90.5 percent leased at the time of sale to tenants including Publix Liquor, Super Cuts, RE/MAX on the Coast, Coastal Paddle Co. and Pizzaz Personalized Gifts. Brad Peterson, Whitaker Leonhardt and Michael Brewster of HFF represented the undisclosed seller in the transaction.
GREENSBORO, N.C. — The Dilweg Cos. has sold South Elm Business Center, a 13-building industrial/flex development totaling approximately 330,000 square feet in Greensboro. Jonathan Smith of CBRE | Triad represented Durham, N.C.-based Dilweg in the transaction. Chris Ramm of Ramm Commercial Properties represented the buyer, Winston-Salem, N.C.-based Taylor Development Group. The sales price was not disclosed, but the Triad Business Journal reports Dilweg purchased the asset in 2009 for $11.5 million. Constructed between 1981 and 1988, South Elm Business Center is located on 29 acres at the corner of South Elm Eugene Street and Creek Ridge Road. The buildings offer a range of single- and multi-tenant options and feature office and warehouse space, docks, drive-in doors, showrooms and fenced yards. The portfolio was 88 percent leased at the time of sale. The CBRE | Triad team has handled leasing efforts for the portfolio since 2015 and will continue to do so under the new owner. Sara Proffit of CBRE | Triad will manage the property on behalf of Taylor Development.
RALEIGH, N.C. — Atlanta-based Cortland Partners has acquired Aurum Falls River, a 284-unit apartment community in Raleigh. The sales price and seller were not disclosed. Located at 1302 Rio Valley Drive, the property is located near Research Triangle Park, Wake Forest University and the Raleigh-Durham International Airport. Aurum Falls River was constructed in 2001 and offers one-, two- and three-bedroom floor plans. Community amenities include a car care center, pet wash station, pool, outdoor kitchen, playground, fitness center and a dog park.
INDIANAPOLIS — CBRE has arranged the sale of three multifamily properties in the Indianapolis area for $69.1 million. Steve LaMotte Jr. of CBRE represented the seller in each of the separate transactions. Philadelphia-based Gold/Oller retained a management interest in Lighthouse Landings, a 336-unit property completed in 2001. Covenant Capital acquired Columns of Castleton, a 398-unit property located on the northeast side of Indianapolis. CBRE represented the seller, Samuel Geltman & Co., which had owned the property for nearly 30 years. The community will undergo a full renovation, including possible construction of a clubhouse and amenity area. Sundance Bay LLC purchased Eagle Pointe Apartments, a 256-unit property located on the west side of Indianapolis. Gold/Oller was the seller.
HOUSTON — The Signorelli Co. will develop The Pointe at Valley Ranch Town Center, a 550-unit apartment project that will be the first multifamily component of the 240-acre Valley Ranch Town Center community located at the intersection of Interstate 69 and Grand Parkway. Meeks + Partners Architects and Brown & Gay Engineers are designing the Class A project, the first phase of which is scheduled to break ground in early 2018.
JEFFERSONVILLE, IND. — Ingram Micro has signed a 592,800-square-foot industrial lease in Jeffersonville, three miles north of Louisville, Ky. The technology and supply chain services provider will fully occupy Gateway 600 within the River Ridge Commerce Center. The property is located on 40 acres at 250 Hilton Lane. VanTrust Real Estate developed the speculative building, which was completed earlier this year. Matt Hartlage and Jake Sturman of JLL represented the tenant in the lease transaction. Kevin Grove of CBRE represented the landlord.
CHICAGO — Belmont Village Senior Living has broken ground on a 149-unit seniors housing community in Chicago’s Lincoln Park. Belmont Village Lincoln Park will feature 120,500 square feet of assisted living and memory care units. The property is being developed on a parcel of land that was originally part of the Children’s Memorial Hospital campus. The building was demolished earlier this year. The project, slated to open in summer 2019, is Belmont Village’s first property in the Chicago proper. The developer has previously completed properties in Buffalo Grove, Carol Stream, Glenview and Oak Park.
CINCINNATI — Colliers International has brokered the sale of a 39,385-square-foot office property in Cincinnati for $5.9 million. Built in 2010 and expanded in 2017, the building is located at 9655 Reading Road. EMCOR Inc., a mechanical and electrical construction services company, fully occupies the property. Steve Timmel, Jeff Johnston, Chris Prosser and John Gartner of Colliers represented the undisclosed seller. A real estate investment trust purchased the property.
ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of a 25-unit apartment building in St. Paul’s Merriam Park neighborhood for $3 million. The property is located at 1880 Marshall Ave. Mox Gunderson, Dan Linnell, Josh Talberg and Evan Miller of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and secured the buyer, a partnership.
KYLE, TEXAS — InvenTrust Properties Inc. has acquired Kyle Marketplace, a 226,000-square-foot shopping center located in the southern Austin suburb of Kyle, for approximately $59 million. Anchored by H-E-B, the center is currently leased to tenants such as Starbucks, Subway and Whataburger. The seller was not disclosed.
