GAINESVILLE, FLA. — The design-build team of Charles Perry Partners Inc., Ponikvar & Associates Inc. and Causseaux, Hewett & Walpole Inc. will break ground this month on the City of Gainesville’s $33 million Regional Transit System (RTS) Bus Fleet Maintenance & Operations Facility. The 140,000-square-foot project is funded by federal grants from the Federal Transit Administration. It will be located on Veitch Street and include dispatch, administrative and maintenance facilities.
GREENVILLE, S.C. — A joint venture between Atlanta-based Kaufman Realty Group LLC (KRG); Charlotte, N.C.-based Lat Purser & Associates Inc. (LPA); and Ray Jones, an apartment development veteran also based in Charlotte, will develop The Rhett Street Apartments in downtown Greenville. The mid-rise, luxury apartment complex will include 150 units. The project will begin construction in February 2013 and is being financed by Bank of America and equity from the three joint venture entities and Columbia, S.C.-based Intermark Management Corp., which will manage the property.
ATLANTA — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has awarded $13.6 million to assist in the funding of 43 affordable housing projects in 10 states and Washington, D.C., as part of its 2012 Affordable Housing Program (AHP). Local for-profit and not-for-profit developers, in partnership with FHLBank Atlanta member institutions, will use $12 million of the AHP funds to assist in the acquisition, new construction, rehabilitation or preservation of 1,993 affordable rental and owned housing units in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and Washington, D.C.
FORT MYERS, FLA. — The 74,286-square-foot Sanibel Beach Place shopping center has sold for $7 million in Fort Myers. Global Fund Investments purchased the Publix-anchored retail property from Sanibel Beach Place LLC. Mike Milano and Ron Schultz of Colliers International Tampa Bay represented the seller. Sanibel Beach Place is located at 20321 Summerlin Rd. and was 75 percent occupied at the time of the sale.
LOMBARD, ILL. — Waste Management has signed a lease for 40,300 square feet of office space at Butterfield Centre in Lombard. The space is part of a 145,814-square-foot building located at 700 E. Butterfield Road. Property amenities include immediate access to I-88, newly renovated common areas, a conference center with auditorium and an on-site deli. Michael Van Zandt, Brian Edgerton and Matt Novak of NAI Hiffman represented the landlord, Travelers Insurance, in the transaction. John Musgjerd of Jones Lang LaSalle represented the tenant.
ST. PAUL, MINN. — Oak Grove Capital has arranged a $23 million HUD 221(d)(4) loan for the construction of West Side Flat Apartments in St. Paul. The property will contain 178 units on the corner of Fillmore Avenue and Wabash Street.
CHICAGO — Quantum Real Estate Advisors has arranged the $6.9 million sale of a 14,490-square-foot Walgreens property at 7901 S. Western Ave. in Chicago. Walgreens has 23 years remaining on its lease. Chad Firsel and Jordan Kaufman of Quantum Real Estate Advisors represented the seller, a private fund from Wilmette, Ill., in the transaction. The buyer was a private individual from California.
BRIDGEPORT, N.J. — Mesa West has arranged $14 million in first mortgage debt to recapitalize 200 Birch Creek Road in Bridgeport, a vacant 597,000-square-foot warehouse and distribution center in Bridgeport. The borrower was a partnership between Hillwood Investment Properties and Brookfield Asset Management. The partnership was formed earlier this year to invest up to $1 billion in industrial properties over the next three years. Hillwood and Brookfield acquired the asset from Cornerstone Real Estate Advisors in August, which is located within the Pureland Industrial Complex.
HARRISON, N.Y. — The Motion Picture Association of America (MPAA) will relocate its New York office to 500 Mamaroneck Ave. in Harrison. The organization signed a five-year lease for 2,476 square feet on the fourth floor, and plans to move from its current space in Tarrytown, N.Y., in 2013. The landlord, Malkin Properties, was self-represented by Jeffrey Newman, Kimberly Zaccagnino and Tara Long in the transaction. The MPAA has served as an advocate of the U.S. motion picture, home video and television industries around the world since 1992.
NEW YORK CITY — More than 115 years after it began as a boarding school for boys' choir, Grace Church School (GCS) has opened the first phase of a new four-story high school division at Cooper Square in New York City. GCS, which became coed in 1947, already provides pre-kindergarten through 8th grade facilities nearby. The $9 million, 51,000-square-foot phase included construction of the the first and second floors, a library, a study commons and a cafeteria. The second phase, expected for completion in 2014, will include the renovation of the 17,000-square-foot third floor. The phase is slated to cost $3 million. In the third phase, crews plan to renovate the fourth floor and add a new gym for $5.1 million. Alspector Architecture is designing the project, which is slated for completion in 2018.