MARIETTA, GA. — Jones Lang LaSalle has arranged the sale of Powers Ferry Plaza, an 86,401-square-foot shopping center located on Powers Ferry Road in Marietta, a suburb immediately north of Atlanta. The shopping center is anchored by Micro Center, a computer and technology retailer. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle represented the seller, Equity One, in the transaction. An Atlanta-based investor purchased the center.
MEMPHIS, TENN. — Paramount Lodging Advisors has brokered the sale of Drury Inn & Suites, a 118-room hotel located in Memphis. A regional investor purchased the hotel and has rebranded it as a Quality Inn & Suites. Adam Montufar and Brent Clemens of Paramount represented the seller, DSW Inns LLC, in the transaction.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged a 35,849-square-foot office lease at Park Central III in Richmond. The one-story office building is located at 8831 Park Central Drive. Mac Wilson and James Stikeleather of Cushman & Wakefield represented the landlord in the transaction. The tenant, Universal Health Services Inc., is a Fortune 500 hospital management company.
BEMIDJI, MINN. — DoubleTree by Hilton has opened a new 92-room hotel along the waterfront of Lake Bemidji following a 15-month, $14 million investment. The newly constructed DoubleTree by Hilton Bemidji hotel adjoins the existing Hampton Inn & Suites Bemidji, a sister brand within the Hilton Worldwide portfolio. SCGM LLC owns the hotel, which is managed by Rich Siegert & Associates. The hotel features more than 5,000 square feet of flexible meeting space, 700 feet of private beach access, and more than half of the rooms include private balconies that overlook Lake Bemidji.
SPRINGFIELD, MO. — Denver-based Beacon Student Housing, which is partnering locally with developer Tim Roth, has broken ground on a 200-bed student housing project near Missouri State University. The 100,000-square-foot apartment development is comprised of two, four-story buildings, which will include one-, two- and four bedroom units. The design team includes Buxton Kubik Dodd Architects and General Contractor Build LLC. The project is slated for a summer 2014 opening.
EVANSTON, ILL. — Sporting two wind turbines, nearly 850 solar panels and a geothermal system burrowed 550 feet into the ground, Walgreens has opened what it believes is the nation’s first net-zero energy retail store in metro Chicago. The store is expected to produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. The store is located in Evanston, at the intersection of Chicago Avenue and Keeney Street. The Chicago-area location allows easy access for Walgreens engineers based at the company’s headquarters in Deerfield, to measure the store’s performance for an entire year to determine if the store reaches its goal of net-zero energy use.
CHICAGO — The Boulder Group has arranged the $1.6 million sale of a single-tenant, net-leased 7-Eleven property in Chicago. The 3,200-square-foot retail building, located at 3005 N. Pulaski Road, was developed in 2013. The property is fully leased to 7-Eleven, which has 10 years of lease term remaining and a 10 percent rental escalation in 2018. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction.
PHILADELPHIA — Radisson Blu has completed the $20 million renovation and conversion of the Radisson Blu Warwick Hotel in Philadelphia. The hotel marks the third Radisson Blu hotel in the United States, joining Radisson Blu Aqua Hotel in Chicago and the Radisson Blu Mall of America in Bloomington, Minn. The renovation of the 301-room historic hotel, situated in the Rittenhouse Square district, includes a redesign of all guestrooms and corridors, a new business class floor with a private lounge, as well as a new lobby. Jim Hamilton of interior design and graphics firm Graven Images designed the hotel. Originally opened in 1926, the hotel is listed on the National Register of Historic Places.
WARWICK, R.I. — Seavest Healthcare Properties LLC has completed the new $13.9 million, 62,724 square-foot Kent Ambulatory Services Pavilion in Warwick, about 15 miles south of Providence. The facility is located at 455 Toll Gate Road on the campus of Kent Hospital, part of the Care New England Health System. It houses a 31,000-square-foot ambulatory surgery center and medical office space for physicians. White Plains, N.Y.-based Seavest Properties III healthcare real estate fund owns the building, which is leased to Kent Hospital. The Washington, D.C., office of Trammell Crow Co. developed the building for Seavest. Steffian Bradley Architects of Boston designed the facility. Providence-based Dimeo Construction Co. was the general contractor.
PHILADELPHIA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.3 million loan for the construction of a 40-unit apartment property in Philadelphia. The Mount Vernon Apartments development will convert a former industrial building into a multifamily property. MMCC arranged a five-year loan that includes a fixed interest rate of 4.75 percent.