Southeast

Travilah Square Shopping Center Rockville

Finmarc Management Buys Shopping Center in Maryland for $22.4M

by John Nelson July 23, 2015

ROCKVILLE, MD. — Finmarc Management Inc. has purchased Travilah Square Shopping Center, a 61,496-square-foot property located at the intersection of Darnestown and Travilah roads in Rockville. Finmarc purchased the property from Walgreens for $22.4 million. Travilah Square comprises five buildings and includes a freestanding Burger King and 16,000 square feet of commercial office space, which is currently vacant. Built in 1988, the shopping center is in close proximity to the University of Maryland Shady Grove campus. Including this purchase, Finmarc and its partners have acquired or disposed of more than $400 million worth of properties.

July 23, 2015

Florida Office Southeast

HFF Arranges $12.5M Sale of REO Office Park in Metro Miami

by John Nelson July 23, 2015

WEST KENDALL, FLA. — HFF has closed the $12.5 million real estate owned (REO) sale of Lucky Start Executive Plaza, a two-building office park totaling 55,658 square feet at 8765 S.W. 165th Ave. in West Kendall, a suburb of Miami. The office park comprises two office buildings that are 54.1 percent leased to medical and office tenants, as well as a vacant pad site for the future development of a three-story, 89,000-square-foot office building. HFF marketed the property on behalf of a regional bank, which previously purchased the asset in a foreclosure auction. IMC Property Management Inc. was the buyer. Marty Busekrus, Jorge Portela and Manny de Zárraga of HFF brokered the transaction.

July 23, 2015

Florida Mixed-Use Southeast

Colliers Brokers $10.8M Sale of Mixed-Use Asset in Miami’s Wynwood Neighborhood

by John Nelson July 23, 2015

MIAMI — Colliers International has brokered the $10.8 million sale of a former art gallery located at 2534 N. Miami Ave. in Miami’s Wynwood neighborhood. Built in 1950 and formerly housing the Zadok Art Gallery, the two-story, 18,870-square-foot property includes retail space on the ground floor and office space on the second floor. Ivo Tsinev and Achikam Yogev of Colliers International’s South Florida office represented the seller, Zadok Real Estate Holding, in the transaction. Michael Tobin of Rothman & Tobin PA represented the buyer, Badjer LLC, which plans to lease the vacant building for retail use.

July 23, 2015

North Carolina Office Southeast

Lincoln Harris Arranges Two Leases Totaling 62,075 SF at Capitol Towers in Charlotte

by John Nelson July 23, 2015

CHARLOTTE, N.C. — Lincoln Harris’ Charlotte office has arranged two leases totaling 62,075 square feet at Capitol Towers – South Tower, a 236,250-square-foot, Class A office tower located at 4350 Congress St. in Charlotte. Campbell Walker of Lincoln Harris’ Charlotte office represented the landlord, Capitol Towers LLC, in both lease transactions. The deals included Sterling Capital Management LLC leasing 22,075 square feet and Dixon Hughes Goodman LLP leasing 40,000 square feet. Jim Thorp of JLL represented Sterling, and Barney Earles of CBRE represented Dixon Hughes Goodman.

July 23, 2015

Office Southeast Tennessee

Liberty Tower, Law Firm in Chattanooga Earn LEED Gold Certification

by John Nelson July 23, 2015

CHATTANOOGA, TENN. — The U.S. Green Building Council (USGBC) has awarded Liberty Tower, a 214,000-square-foot office building in Chattanooga, LEED Gold certification, making it the largest LEED Gold-certified core and shell project in Tennessee. Additionally, the USGBC has awarded Chambliss, Bahner & Stophel PC LEED Gold certification for its commercial interiors. The company is the only law firm in Tennessee to have earned LEED Gold certification. Chambliss, Bahner & Stophel PC is a tenant at Liberty Tower, making the pair the only project to achieve dual LEED certification in Chattanooga. The law firm’s sustainable features include Energy Star-rated equipment, an open office layout, reuse of 60 percent of its furniture and low VOC paints and carpet tiles. Liberty Tower’s sustainable features include bike racks and showers, new LED light fixtures, low-flow toilets and faucets, solar controlled windows and modern HVAC equipment.

July 23, 2015

Florida Multifamily Southeast

Berkadia Brokers $47M Sale of Multifamily Portfolio in Florida

by John Nelson July 22, 2015

PALM BAY AND MELBOURNE, FLA. — Berkadia has brokered the $47 million sale of a three-property multifamily portfolio in Palm Bay and Melbourne. Agawam, Mass.-based Deancurt Melbourne LLC purchased the portfolio from Denver-based HC II LP for roughly $85,454 per unit. Cole Whitaker, Hal Warren and Jason Stanton of Berkadia brokered the transaction. The three communities include the 112-unit Malabar Lakes in Palm Bay, the 300-unit Grand Oaks at the Lake in Melbourne and the 138-unit Park Village in Melbourne.

July 22, 2015

Georgia Retail Southeast

FCA Partners Acquires AMC-Anchored Shopping Center in Atlanta for $43.9M

by John Nelson July 22, 2015

ATLANTA — Charlotte-based FCA Partners has purchased Parkway Pointe, a 196,664-square-foot retail center located in Atlanta’s Cumberland Galleria submarket, for $43.9 million. Anchored by a 15-screen AMC Theatres, the center is located at the northeast corner of Cobb Parkway and Cumberland Boulevard, a couple blocks from I-75 and roughly one mile from the future SunTrust Park, the Atlanta Braves’ new ballpark opening in April 2017. The center was approximately 85 percent leased at the time of sale to tenants such as Main Event Entertainment, Taco Mac, Copeland’s of New Orleans, Pier 1 Imports and Roam. Eastdil Secured represented the seller, Stockbridge Capital Group, in the transaction.

July 22, 2015

Florida Multifamily Southeast

Pollack Shores Breaks Ground on South Tampa Apartment Community

by John Nelson July 22, 2015

TAMPA, FLA. — Atlanta-based Pollack Shores Real Estate Group has begun construction on Havana Square, a new 274-unit luxury apartment community in south Tampa. Located in North Hyde Park on Rome Avenue, the property will feature a resort-style pool with fountains and cabanas, a fitness center, yoga room, courtyard with an open lawn, bocce ball court, sitting areas, fire pits and a parking garage. The one-, two- and three-bedroom units in Havana Square will include high-end finishes such as quartz and granite countertops, plank flooring, pendant lighting, stainless steel appliances and under mount sinks. Pollack Shores expects to have the first units available for rent in summer 2016 with final completion expected in early 2017. Matrix Residential, the multifamily residential management division of Pollack Shores, will manage the property upon completion.

July 22, 2015

Florida Retail Southeast

CREC Brokers $23.1M Sale of Shopping Center in Metro Miami

by John Nelson July 22, 2015

HIALEAH, FLA. — CREC has brokered the $23.1 million sale of El Mercado Shopping Center, a 96,000-square-foot property located at 2400 W. 60th St. in Hialeah in Miami-Dade County. The shopping center was 99 percent leased at the time of sale to tenants such as Publix, Rent-a-Center, Payless Shoes, GNC, Little Caesars Pizza, Pollo Tropical, La Colonia Medical Center, Mary’s Dollar Store and SunTrust Bank. Warren Weiser, Harry Blyden and Andrew Remick of CREC represented the seller, El Mercado Associates Ltd., in the transaction. The buyer is Stockbridge El Mercado LLC, an affiliate of Stockbridge Capital Group.

July 22, 2015

North Carolina Specialty Hospital Durham

Healthcare North Carolina Southeast

Insite Arranges CNL Healthcare’s Purchase of a Medical Office Portfolio in Raleigh-Durham

by John Nelson July 22, 2015

RALEIGH AND DURHAM, N.C. — Charlotte-based Insite Properties has represented CNL Healthcare Properties in the acquisition of five single-tenant medical facilities in the Raleigh-Durham area. The portfolio includes the 58,189-square-foot North Carolina Specialty Hospital in Durham and four medical office buildings totaling 103,049 square feet. The 63,158-square-foot flagship facility and corporate headquarters for Triangle Orthopaedics Associates is the largest of the four medical office buildings. The five buildings were built between 2004 and 2011 and the current tenants have between 12 and 15 years remaining on their leases. Insite Properties will provide property management services for the portfolio. Sam DiFranco of Trinity Partners represented the seller in the transaction.

July 22, 2015

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