AUSTIN — Dungan Storage Warehouse, a 14,000-square-foot, 18-unit self storage facility located at 1706 Dungan Lane in Austin, has sold. The purchase also includes undeveloped land that is currently being used for commercial and recreational parking. Joe Linsalata of Linsalata Realty Services represented the seller in the transaction. The buyer, Kenan Hemingway Investment Corp., was self-represented by Gregg Hemingway.
Property Type
ORANGE CITY, FLA. — Inland Real Estate has purchased the 119,590-square-foot Saxon Crossings Shopping Center, located at 2607 Enterprise Road in Orange City, for $20.7 million. LA Fitness and Hobby Lobby anchor the center, and additional tenants include Jimmy John's, Papa John's Pizza, Woody's BBQ and Mattress One. Cliff Taylor of CBRE Group's Jacksonville, Fla., office, along with Daniel Baker of the firm's Orlando, Fla., office, represented Saxon Crossing Partners, the seller, in the transaction.
CHARLESTON, S.C. — Holder Properties has broken ground on the $17 million, 52,000-square-foot 174 Meeting Street, a Class A office building located in Charleston. The four-story building will include a CertusBank branch, ATM and parking. Additionally, CertusBank has signed a lease to occupy the second floor. McMillian Pazdan Smith Architecture designed the property, which Trident Construction is building. Completion is slated for April 2013.
MIAMI LAKES, FLA. — A joint venture between The Easton Group and Marcus Capital Partners Fund I has sold eight buildings in the Miami Lakes Research & Industrial Park, located at 14400-14560 NW 60th Ave. in Miami Lakes, to The Graham Companies for $14.3 million. The remaining three buildings in the park sold last year to Fonga for $4.6 million. The 11 buildings total 394,000 square feet, and the campus is 50 percent leased to HeartWare.
SHREVEPORT, LA. — Lexington Realty Trust has purchased a 258,000-square-foot, build-to-suit industrial facility, located in Shreveport, for $13 million. The newly constructed building is net-leased to The Tire Rack.
NORCROSS, GA. — A 55,000-square-foot industrial and showroom building, located at 430 Technology Parkway in Norcross, has sold for $4.5 million. The building is fully leased to Simmons Bedding Co. through 2018 and serves as the company's flagship location. Tom Shafer, John Hinson and CJ Kelly of Atlanta-based Resource Real Estate Partners represented Healey Investments, the seller, in the transaction. 430 Tech Realty LP. was the buyer.
ST. LOUIS, MO.— Lakeside Property LLC, a private investment group, has acquired a 23,500-square-foot, mixed-use building in St. Louis for more than $2 million. BankLiberty was the seller of the building, which is located at 11401 Olive Blvd. The multi-tenant building is anchored by ground floor tenants Enterprise Bank and an insurance firm. The second floor of the building, totaling approximately 12,500 square feet, is vacant but fully furnished. Champion Bank developed the building in 2008. It occupied approximately 20,000 square feet of space until April 2010 when the bank’s assets, including this piece of commercial real estate, were taken over by the Federal Deposit Insurance Corp. BankLiberty was assigned the assets. David Biales and David Steinbach of Jones Lang LaSalle represented BankLiberty in the transaction.
SOUTHFIELD, MICH. — Ciena Healthcare, a leading provider of skilled nursing and rehabilitation care facilities in Michigan and Connecticut, has obtained a five-year, $29 million loan from Capital One Bank. The loan proceeds will be used to refinance three skilled nursing facilities in Michigan that were built since 2005. Southfield-based Ciena Healthcare operates 32 skilled nursing communities across the state and four communities in Connecticut. The company provides long-term care and short-term rehabilitative services. Capital One Bank is based in McLean, Virginia.
ST. LOUIS, MO. — HOK has been named executive architect on the long-term renewal project for the medical center campus on Kingshighway Boulevard in St. Louis, which encompasses Barnes-Jewish Hospital, St. Louis Children’s Hospital and Washington University School of Medicine. The campus renewal project will extend for 10 years. The overall project calls for increased critical care capabilities and additional private inpatient rooms, along with development of programs in medical and surgical services. BJC’s selection committee cited HOK's experience designing some of the world's most transformative healthcare facilities. These projects include the Barnes-Jewish Center for Advanced Medicine in St. Louis, and the expansion of the Ohio State University Medical Center campus in Columbus, Ohio.
CAMBRIDGE, MASS. — EF Education First has selected Skanska as the design-build contractor for its $65 million, 285,243-square-foot new headquarters in Cambridge. The 11-story office building will include a supplementary ground floor, mezzanine space and three levels of above-ground parking. Completion is slated for February 2014.