Thursday, September 17, 2026
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MultifamilySoutheast

D.C. APT. BUILDING SELLS FOR $26M

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WASHINGTON, D.C. — A partnership between Washington, D.C.-based Urban Investment Partners and New York City-based Infinity Real Estate has acquired a 114-unit apartment building, located at 1841 Columbia Rd. NW in Washington, D.C., from Fairfield Residential Co. for $26 million. The property includes 20,000 square feet of retail space. The buyer plans to invest more than $7 million on a comprehensive building renovation and modernization program, which will include a complete window and storefront replacement, addition of an environmentally friendly water-sourced heating and cooling system, redesigned common areas and a rooftop terrace. Additionally, the building, formerly known at The Alcazar, will be renamed 1841 Columbia. Completion is slated for December 2012. Arbor Commercial Mortgage of New York provided acquisition and project debt financing.

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MultifamilySoutheast

JV BUYS FLA. APT. COMPLEX

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PALM BEACH GARDENS, FLA. — A joint venture between DeBartolo Development and Elco Landmark Residential has purchased the 542-unit Landmark at Garden Square, located at 4104 Union Square Blvd. in Palm Beach Gardens. The property, formerly known as Landmark at Union Square, will undergo improvements during the next 6 months. The property is 92 percent leased, and includes three pools, a clubhouse, state-of-the-art fitness center, business center, movie theater, tennis court, billiards room and a 9-hole putting green.

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MultifamilySoutheast

IPA BROKERS $12.6M APT. COMPLEX SALE

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TAMPA, FLA. — Institutional Property Advisors (IPA) has arranged the $12.6 million sale of the 168-unit Waterstone at Carrollwood Apartment Homes, an apartment complex located at 3339 Handy Rd. in Tampa. Jamie May of IPA's Tampa office represented Landmark Residential, the seller, in the transaction and procured the buyer, Robbins Property Associates. Amenities include a clubhouse with an Internet cafe, a resort-style swimming pool, a tennis court, a fitness center and a children's play area.

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OfficeSoutheast

CRESCENT BEGINS 199,777 SF OFFICE BUILDING

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ALTAMONTE SPRINGS, FLA. — Crescent Resources has started construction on a 199,777-square-foot, six-story office building and parking garage, located in Altamonte Springs, for Adventist Health System. The new facility is adjacent to the new 153,864-square-foot Adventist Health Systems headquarters, located at 900 Hope Wy., which opened in December. The new building, slated for completion in spring 2013, will house support operations. Little is the project architect, Brasfield & Gorrie is the contractor and Parsons is the project consultant.

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OfficeSoutheast

AJP VENTURES TOPS OFF $9M THE BUILDING

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CORAL GABLES, FLA. — AJP Ventures has topped off the $9 million, 58,000-square-foot The Building, located at 2990 Ponce de Leon Blvd. in Coral Gables. The Class A office building is slated for completion in June. The Building is 65 percent pre-leased to tenants, which include Zubi Advertising and Mas Group. A joint venture between Juan Carlos of The Mas Group of Companies and TAZ Partners is developing the property.

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CivicMidwest

OPUS TO BUILD STUDENT ACTIVITIES CENTER

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MENDOTA HEIGHTS, MINN. — Opus Design Build LLC has been selected by St. Thomas Academy to build a 95,000-square-foot activities center in Mendota Heights, a southern suburb of the Twin Cities. The center will include two, large gymnasiums, including a competition gym with retractable bleachers capable of seating 1,600 spectators. It will also house a fitness and weight room, locker rooms, health education classrooms and offices for coaches and physical education instructors. The new facility will be connected to the existing main school building by a two-story structure. The first story will include a school store and classroom space and the top level will include art studios and choir and band rooms. Crews will break ground in late April and the project is slated for completion this spring. Opus AE Group will serve as architect and structural engineer for the project.

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MidwestRetail

CONSTRUCTION COMPLETE ON MUNGENAST HYUNDAI

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HAZELWOOD, MO. — Construction is complete on a new $6 million auto dealership for Mungenast Hyundai in Hazelwood, located north of St. Louis. The new 37,500-square-foot dealership will be used for automobile sales, repair, storage and detailing. The building's features include a coffee bar and a drive-thru space for customers to drop-off and pick-up cars. Swansea-based Holland Construction Services built the facility and the architect was Chesterfield-based HDA Architects.

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NortheastOffice

SHESKEY SELECTED TO DESIGN OFFICE PARK

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HINGHAM, MASS. — Sheskey Architects has been selected to design Hingham Technology Park 3, a new office development to be built on a 9-acre parcel in Hingham, suburb to the southeast of Boston. The concept calls for the construction of two LEED certified office buildings with parking garages and ground-level parking. The design also requires the razing of the existing 61,000-square-foot building, located on the site. For many years, the building was home to the South Shore Educational Collaborative. The project will mark the second time in a decade that a new major office development project is being planned for Hingham.

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