LOUISVILLE, KY. — Marcus & Millichap has arranged the $22.5 million sale of the 326-unit Vieux Carre Apartments, a multifamily property located at 9811 Vieux Carre Drive in Louisville. The property is fully occupied. Aaron Johnson of Marcus & Millichap represented the seller, The Infinity Group, in the transaction. Drew Babcock, also of Marcus & Millichap, represented the buyer, a Nashville-based multifamily investment group.
ARLINGTON, VA. — Ambassador Inc., a wholly owned subsidiary of The Morris & Gwendolyn Cafritz Foundation, plans to invest $5 million to renovate its 175,000-square-foot office building, located at 3701 N. Fairfax Drive in Arlington. The renovation will include exterior upgrades, a new lobby and vestibule, new HVAC system, tenant common areas on all floors, fifty-person conference facility, fitness center and first floor food service/deli. Construction is slated to begin this fall, following the departure of the Defense Advanced Research Projects Agency, due to BRAC requirements. Structure Tone is the general contractor for the project.
VIRGINIA BEACH, VA. — Walmart has selected Satterfield & Pontikes Construction to build a $4.9 million, 45,000-square-foot Walmart Neighborhood Market, located at 3201 Holland Road in Virginia Beach. BRR Architecture will provide design and architectural services for the project and Kimley-Horn will be the engineer. Completion is slated for February 2013.
ROME, GA. — Franklin Street Real Estate Services has arranged the $1.16 million sale of an 8,000-square-foot Family Dollar, located in Rome. Mac McCall of Franklin Street represented the seller, a Chattanooga, Tenn.-based developer, in the transaction. The buyer was an Atlanta-based investment company.
RICHMOND, VA. — CBRE Group has secured $43.3 million in permanent financing for the SunTrust's Mid-Atlantic headquarters, located in Richmond. Included in the collateral were the 458,229-square-foot main building, the 28,111-square-foot SunTrust center and a 370-space parking garage. Charles Foschini, Christopher Apone and Christian Lee of CBRE Group arranged the three-year loan with an interest-only amortization schedule through NorthStar Income on behalf of Parmenter Realty Partners, the borrower.
WEST CHESTER, OHIO — SK Realty Management has acquired a 970,000-square-foot office complex in suburban Cincinnati, which serves as the headquarters and distribution facility for Cornerstone Brands, for $49.6 million. The complex is located in the Union Centre Commerce Park in West Chester, along the I-75 corridor between Cincinnati and Dayton. The complex has been home to Cornerstone Brands since its completion in 1999. Along with office and distribution space, the building also contains 61,800 square feet of retail space. Suzanne Martinez and Matt Hoffman of Avison Young represented the seller, Inland American, in the transaction.
SOUTH BEND, IND. — Holladay Properties and an unnamed joint venture partner have purchased the former 529,137-square-foot AJ Wright building, located at 1905 W. Sample St. in South Bend. The new owners named the property Interstate 80 Commerce Center and aim to attract a national and regional tenant mix that provides services to the Midwest. The property is located near I-80 and was developed in 2005 as an AJ Wright distribution center. The facility features 24,547 square feet of office space, 88 docks and 32- and 46-foot ceiling heights.
PLYMOUTH AND BROOKLYN PARK, MINN. — Three of Duke Realty Corp.'s tenants have expanded their leased space by 85,994 square feet, bringing two of the company's industrial properties to full occupancy. Ferguson Enterprises, a plumbing products supplier, renewed its 210,418-square-foot lease at Medicine Lake Industrial Center at 975 Nathan Lane in Plymouth. The company also expanded its lease by 49,994 square feet. Graybar Electric Co., an electrical products provider, expanded its lease space at Crosstown Business Center 12 in Brooklyn Park to 24,000 square feet, bringing the total square footage it leases to 144,048 square feet. In the same building, Industrial Netting, a supplier of plastic netting and precision metal mesh, renewed its 84,000-square-foot lease and increased its square footage by 12,000 square feet. These leases, along with a recent new lease by Archway Marketing, bring the Crosstown Business Center 12 to full occupancy.
PORT WASHINGTON, WIS. — 1021 Wisconsin LLC, an entity owned by a Wisconsin-based private investor, has acquired a 2,250-square-foot Pizza Hut property in Port Washington for $667,500. The building is located less than a mile south of I-43 and is adjacent to a Shopko Express. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the buyer in the transaction.
CHESTERFIELD TOWNSHIP, MICH. — Anytime Fitness has inked a lease for 5,000 square feet in Chesterfield Village Square at 27851 23 Mile Road in Chesterfield Township. Brad Rosenberg and Gabe Schuchman of Mid-America Real Estate-Michigan Inc. represented the landlord, 51382 Gratiot Avenue Holdings LLC, in the transaction.