ATLANTA — Clermont Hotel Partners LLC has purchased The Clermont Hotel, located at 789 Ponce de Leon Ave. in the Virginia Highlands submarket of Atlanta, with plans to redevelop the property as a boutique hotel. The historic building was built in the 1920s as apartments and converted to a hotel in the 1940s. The Clermont Hotel includes an iconic club on the ground level, which has been in operation for nearly 50 years. The hotel has been shut down since Dec. 31, 2009. Jake Reid of Franklin Street Real Estate Services represented the seller, Fairway Capital, in the transaction. The buyer is an affiliate of Nashville, N.Y.-based BNA Associates LLC.
NORTH CHARLESTON, S.C. — Charlotte, N.C.-based Beacon Partners has purchased North Rhett Commerce Center, a 511,891-square-foot industrial warehouse on 34 acres at 5801 North Rhett Ave. in North Charleston, for an undisclosed price. The facility houses tenants Husqvarna Professional Products and Integris Logistics. Beacon plans significant renovations and improvements during upcoming months to enhance the property’s functionality, energy efficiency and appearance. Beacon represented itself in the industrial transaction and Hagood Morrison of Colliers International represented the unlisted seller.
JESSUP, MD. — Boston-based TA Associates Realty has purchased a 205,000-square-foot industrial warehouse at 8125 Stayton Dr. in Jessup for $13.7 million. It is fully leased to Capitol Express & Warehousing through 2018. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Stayton Associates.
BOCA RATON, FLA. — The 10-story One Town Center, formerly known as the Tyco Building, is undergoing renovations and re-entering the Boca Raton market with Class A office space in the Glades/West Boca submarket. MetLife owns the building and has retained CBRE to lease and manage the property. Renovations are being completed by Fort Lauderdale, Fla.-based architect HKS. The building was constructed in 1990 and its most recent tenants were ADT and Tyco International.
ORLANDO, FLA. — Metro Pointe Shopping Center, a 32,538-square-foot retail property, has traded for $4.75 million in Orlando. It is 100 percent occupied and is shadow-anchored by a Walmart Supercenter. Metro Pointe Shopping Center’s tenants include Planet Fitness Gym and Rainbow USA, a clothing store. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a Sunrise, Fla.-based banking institution. The buyer was a private investor from Toledo, Ohio.
FARMINGTON HILLS, MICH. — Michigan-based Agree Realty has purchased four Applebee’s restaurants and an Advance Auto Parts for a total cost of approximately $10.1 million. The recently acquired Applebee's assets are located in Harlingen and Wichita Falls Texas, as well as two properties in Pensacola, Fla. The Advance Auto Parts is located in Lebanon, Va. Each of the restaurants has a new 20-year lease providing for fixed annual rental increases. Agree Realty specializes in single tenant net lease retail properties throughout the U.S.
NORTHBROOK, ILL —A joint venture between Middleton Partners and Romanek Properties, two Northbrook-based real estate investment firms, has acquired the Hillsdale Office Portfolio from Duke Realty. The portfolio is a six-building, 446,000-square-foot campus located on the northeast side of suburban Indianapolis. The overall occupancy of the single-story campus is approximately 88 percent. Financial terms of the deal were not disclosed.
OAK BROOK, ILL. — Two information technology service providers, Interactive Business Systems and ManageForce, have each signed leases at Butterfield Office Plaza in Oak Brook. Interactive Business Systems has renewed its lease for 14,448 square feet, and ManageForce has a new lease for 2,762 square feet. NAI Hiffman’s Jud Henry represented DenHoltz, the landlord in the transaction. Aubrey Van Reken, also with NAI Hiffman, represented ManageForce in the new lease.
BURNSVILLE, MINN. — St. Louis-based Bianco Properties has acquired the property leased to Kohl’s department store in Burnsville, a suburb of Minneapolis. The acquisition of the 102,412-square-foot retail building marks Bianco’s entry into the market. The property was purchased in an all-cash transaction from an affiliate of Cole Real Estate Investments, with CB Richard Ellis representing the seller.
WOODBRIDGE, N.J. — A joint venture between Bergman Real Estate Group and Gottesman Real Estate Partners has purchased Aspen Corporate Park, a 91,700-square-foot, two-building office park in Woodbridge. The property is located at 1460 and 1480 Route 9 North, opposite the Woodbridge Center Mall. Andrew Merin, Gary Gabriel, David Barnhart and Jared Zimmel of Cushman & Wakefield represented the seller, a partnership between Ivy Equities and Meritage Properties, in the transaction. They also represented the buyer.