ORLANDO, FLA. — The 240-unit Silver Pines Apartments, a garden-style multifamily community located at 5402 Pine Chase Drive in Orlando, has sold for $6.26 million. Cole Whitaker, Hal Warren and Jason Stanton of Hendricks & Partners represented the seller, a Dallas-based special servicer, in the transaction.
NORCROSS, GA. — Meritex has purchased a 106,945-square-foot warehouse, located at 5965 Peachtree Corners E. in Norcross. The value-add property is 70 percent leased. The buyer plans to enhance landscaping, install a new roof and renovate suite interiors. Resource Real Estate Partners represented the buyer in the transaction.
FORT MILL, S.C. — Agree Realty Corp. has acquired a 7,560-square-foot Goodyear Tire & Rubber Co. store, located at 1790 Highway 106 W. in ForT Mill, for $2.4 million. Will Pike of CBRE Group represented the seller in the transaction.
DURHAM, N.C. — CBRE/Raleigh has arranged the $2 million sale of a 2.59-acre restaurant outparcel in South Square Shopping Center, located at 4055 Durham Chapel Hill Blvd. in Durham. A 10,020-square-foot former Golden Corral sits on the site. Charlie Coyne and Barry Bowling of CBRE/Raleigh represented Golden Corral of Durham, the seller, in the transaction.
ORLANDO, FLA. — A 9,014-square-foot Dollar General, located in Orlando, has sold for $1.8 million. Franklin Street represented the seller, a Gainesville, Fla.-based developer, in the all-cash transaction. The buyer was an Apollo Beach, Fla.-based private investor.
BURNSVILLE, MINN. — Ebenezer Management Services will breark ground on a $12 million addition to Arbors at Ridges, an assisted living community in Burnsville, later this month. The community currently offers 44 senior apartments. Kraus-Anderson Construction will construct a three-story building that will house 63 assisted living units. The new campus will also feature gardens, walking paths, a movie theater, library, barber shop, clubroom, chapel and coffee shop. The addition is slated for completion in the spring of 2013. Sperides Reiners Architects is designing the project.
JOPLIN, MO. — Homewood Suites by Hilton has opened a new hotel in Joplin featuring its latest prototype, Gen9, which enables the extended-stay brand to target more urban locations. The four-story, 97-room hotel is owned by Joplin Hospitality Partners and managed by McHugh Hospitality Group. The building is one of the first businesses to open in Joplin since last year's deadly tornado. The Gen9 plan reduces the land area needed to build a Homewood by approximately 20 percent. Construction costs are reduced 10 to 15 percent, and the overall development cost per-key is reduced 4 to 6 percent. The Joplin hotel is located at 2642 East 32 St.
CHICAGO — Construction is complete on the first phase of a $4.2 million renovation of a community clubhouse in the Pilsen neighborhood of Chicago. Tandem Construction has added 17,000 square feet to the original Union League Boys & Girls Club at 2157 West 19th St. The new space includes a new gymnasium, science lab and two multi-purpose activity spaces. The project will also include the renovation of an additional 18,000 square feet in the original building, which is a former saloon built in the late 1800s. The Union League Boys & Girls Club has occupied the space since 1920. The facility is set for completion at the end of the year. Antunovich Associates is the project architect.
THIENSVILLE, WIS. — MSP Development has acquired an office building at 200 Green Bay Road in Thiensville from BMO Harris Bank for $275,000. Thiensville is a village 18 miles north of Milwaukee. Tom Shepherd and Lyle Landowski of Colliers International represented both parties in the transaction.
CEDAR KNOLLS, N.J. — MB1 has acquired the 118,000-square-foot Cedar Knolls Corporate Center at 240 Cedar Knolls Road in Morris County. The four-story property is situated on 15 acres and includes an on-site cafe and 445 parking spaces. The building was constructed in 1981 and underwent renovations in 2007. Paul Giannone, Ken Flynn and Kevin Carton of Cushman & Wakefield will lease the property.