ATHENS, GA. — Landmark Properties has begun construction on The Mark, a 928-bed student housing project with 38,400 square feet of retail space and 41,000 square feet of Class A office space. Located adjacent to the campus of the University of Georgia at the intersection of Oconee and Broad streets in downtown Athens, The Mark will offer 14 different floor plans including studios, one-, two-, three-, four- and five-bedroom apartments. The Mark will provide students with an amenity package that includes a clubhouse, fitness facilities, a golf simulator, racquetball court, indoor basketball court, tanning beds, computer lab with private and group study rooms and an Internet café. A rooftop resident center will feature a large fitness center overlooking a two-tiered rooftop pool with cabanas, a Jumbotron, outdoor grilling areas and a stadium-view rooftop lounge. The top level will also feature a “VIP” floor with private rooftop patios and a select number of private hot tubs. A Landmark subsidiary, Landmark Construction, will serve as the project’s general contractor. Niles Bolton Associates is the architecture firm and Williams & Associates is the engineering firm.
Property Type
FORT MILL, S.C. — DTZ has brokered the $14 million sale of a Class A, 255,168-square-foot distribution center located at 1092 Wilson Business Parkway in Fort Mill, a suburb of Charlotte. The distribution center is fully leased to Ross Stores Inc. Beacon Industrial LLC purchased the asset from an institutional investor. Rob Cochran and Jared Londry of DTZ’s capital markets team represented the seller in the transaction.
AUGUSTA, GA. — Waypoint Residential has acquired the Estates at Perimeter, a 240-unit, Class A apartment community located at 50 St. Andrews Drive in Augusta. Built in 2007, the property was 97 percent occupied at the time of sale. The community’s amenities include a saltwater swimming pool, 24-hour fitness center, business center, media room, playground and a newly decorated clubhouse. Waypoint plans to upgrade the units with new lighting packages, plantation blinds, ceiling fans and faux wood flooring in the kitchens and baths. In addition, amenities will be improved and a pet park will be added at the property. The Estates at Perimeter is Waypoint’s third acquisition in the state of Georgia. Waypoint also manages The Hamptons at East Cobb in Marietta and Village on the Green Apartments in Atlanta.
TAMPA, FLA. — Planet Home Lending has leased the entire third floor of Lincoln Center, an office building in Tampa’s Westshore district. The company is relocating its branch location from Clearwater with the 22,450-square-foot space. Pat Marzulli of Colliers International’s Tampa Bay office represented Planet Home Lending in the lease transaction. Pat McGuire and Katy Alderman of Redstone Asset Management Services LLC represented the landlord, St. Paul Fire and Marine Insurance Co. Planet Home Lending is currently overseeing improvements to the space in Lincoln Tower. The organization is expected to complete renovations and move into the office space during the first quarter of 2015.
URBANA, ILL. — The Bainbridge Cos. is developing Campus Circle Urbana, a 524-bed student housing community located directly across the street from the University of Illinois in Urbana. The property, located at 1008 W. University Ave., will include 181 rental apartments. Campus Circle Urbana will feature a design inspired by the retro “speakeasy” feel of Chicago’s popular restaurants and clubs. The project is scheduled to deliver starting in December.
STERLING HEIGHTS, MICH. — NorthMarq Capital has secured $34.6 million in refinancing for Lakeside Terrace Apartments, a 438-unit multifamily property located in Sterling Heights. The 10-year loan includes a 30-year amortization schedule. NorthMarq Capital’s Charlotte office arranged financing for the undisclosed borrower through its seller/servicer relationship with Freddie Mac.
LYONS, ILL. — Marcus & Millichap has arranged the $735,000 sale of a 24-unit apartment property in Lyons. The building is located at 3905-3913 Haas Avenue. The property includes one-bedroom units measuring approximately 500 square feet each. The complex also features off-street parking and an on-site laundry facility. Ryan Engle and Andrean Angelov of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor and the buyer, a limited liability company.
LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of Southfield 12 Plaza, a 24,112-square-foot office building in Lathrup Village, a suburb of Southfield. The property is located at 28600 – 28690 Southfield Road. Lathrup Properties Inc. sold the building. David Cohen of Friedman represented the undisclosed buyer in the transaction.
BOULDER, COLO. – The 140-unit Eastpointe Apartments in Boulder has sold to Apartment Investment and Management Company (AIMCO) for $18 million. The community is located at 1500-1590 Eisenhower Drive. It was built in 1974. AIMCO was represented by Jacob Steele and Nick Steele in Marcus & Millichap’s Denver office.
CAMARILLO, CALIF. – The Shops at Camarillo Town Center, an 8,000-square-foot retail center in Camarillo, has sold to YS Properties for $4.4 million. The center is located at 415 W. Ventura Blvd. It is fully occupied by Subway, T-Mobile, Lindora Weight Loss Center and Eyeglass Factory. The Shops is part of the larger Camarillo Town Center. This 457,128-square-foot power center is anchored by Home Depot, Target, BevMo, Ross and Walmart Neighborhood Market. YS Properties was represented by Connie Kim of Coldwell Banker Wilshire. The seller, a private Orange County investor, was represented by Chris DePierro and Jeff Conover of Faris Lee.