GREENSBORO, N.C. — CBRE | Triad has arranged the sale of Deep River Corporate Center and West Friendly Business Park in Greensboro’s Piedmont Triad Airport submarket. The two flex/industrial facilities total 206,794 square feet. Richmond, Va.-based Lingerfelt CommonWealth Partners purchased the two assets for an undisclosed price. Jonathan Smith, Dodson Schenck and Greg Wilson of CBRE | Triad represented the seller in the transaction.
Southeast
MIAMI — Meridian Capital Group LLC has negotiated a $17 million loan to refinance the Aloft Miami-Brickell in Miami. The 160-room hotel is located at 1001 S.W. Second Ave. in Miami’s financial district. Michael Brown and Brad Beattie of Meridian Capital arranged the 10-year loan with a fixed 4.86 percent interest rate through an unnamed CMBS lender.
UPPER MARLBORO, MD. — Transwestern has brokered the sale of 8300 Pennsylvania Ave., a 180,000-square-foot industrial property in Upper Marlboro. Chesapeake Real Estate Group LLC and Thompson Creek Window Co. purchased the building from Murry’s Inc., a frozen food manufacturer, for $8.7 million. The property served as Murry’s Inc.’s corporate headquarters. Mark Glagola, Ken Marks and Bob Filley of Transwestern represented Murry’s in the transaction. Chesapeake Real Estate and Thompson Creek Window plan to build a 120,000-square-foot headquarters facility for Thompson Creek at the site. Murry’s also leased new headquarters space at 7852 Walker Drive in Greenbelt, Md. Susan Kay and Mark Boyce of Transwestern represented Murry’s in the 3,800-square-foot lease.
WASHINGTON, D.C. — Douglas Development plans to transform the historic corner or 10th and F streets in downtown Washington, D.C., with a 94,000-square-foot office building at 1000 F St. N.W. The property will be integrated with an existing two-story structure at the site. All retail tenants have vacated the site and demolition of existing retail structures will commence in the near future. Delivery is expected in summer 2016. Shalom Baranes Associates has designed the facility to achieve LEED Gold certification. The property will feature multiple outdoor terraces, green rooftops and below-grade parking. Randy Harrell, Mark Klug, Max Friedman and Abigail Todd of CBRE will represent Douglas Development in leasing 1000 F St. N.W.
LAWRENCEVILLE, GA. — Caddis Partners LLC has acquired Gwinnett Medical Building, an 81,627-square-foot medical office building located at 575 Professional Drive in Lawrenceville, a northeast suburb of Atlanta. The five-story property is adjacent to Gwinnett Medical Center-Lawrenceville, Gwinnett Health System’s flagship hospital campus. The medical office building houses primary care, ophthalmology, neurology, nephrology, pediatric orthopedics, rehabilitation, laboratories and a pharmacy. Gwinnett Health System comprises a significant portion of the in-place tenancy. The transaction was financed with equity funded internally by Caddis and debt provided by GE Capital, Healthcare Financial Services. Erik Tellefson and Dan Eppley of GE Capital originated the loan. Caddis has tapped Atlanta-based PMRG to handle leasing services for medical office facility.
MARIETTA, GA. — Walker & Dunlop has originated $24 million in bridge financing to refinance an existing acquisition and renovation loan for Ashford Retreat, a 654-unit apartment community in Marietta, a northern suburb of Atlanta. Jeff Lawrence of Walker & Dunlop led the team that originated the loan with two years of interest-only payments on behalf of the borrower, an Atlanta-based real estate investment company. Since purchasing the asset in 2012, the borrower has spent $4.7 million on exterior and interior upgrades to the community. Using the new loan, the borrower plans to invest another $1.5 million in capital improvements.
ORLANDO, FLA. — Franklin Street Real Estate Services has arranged the $14.2 million sale of Colonial Ridge Apartments, a 194-unit multifamily community located at 649 Cannon Ridge in Orlando. Darron Kattan, Robert Goldfinger and Kevin Kelleher of Franklin Street represented the buyer, a regional owner, in the transaction. Larry Ochab of Pinnacle Realty represented the seller, a private partnership based in New York City that owned the apartment community for nearly 15 years.
GASTONIA, N.C. — Faris Lee Investments has arranged the $7.6 million pre-sale of Petco & Shops, a 22,500-square-foot retail center located at 2272-2290 E. Franklin Blvd. in Gastonia, a suburb of Charlotte. The fully leased property features a 12,500-square-foot, freestanding building leased to Petco and two 5,000-square-foot, freestanding pad buildings leased to Select Comfort, Massage Envy, Firehouse Subs and Tijuana Flats. All the tenants have new 10-year triple-net leases. Matthew Mousavi and Patrick Luther of Faris Lee represented the seller, a North Carolina-based development company, in the transaction. Shaun Riley of Faris Lee represented the buyer, an Arizona-based investor who purchased the asset in a 1031 tax-deferred exchange.
ATLANTA — Atlanta-based Glenfield Capital has purchased a combined 400,000 square feet of office space in five properties in metro Atlanta for an aggregate purchase price of $37.5 million. The portfolio includes 100,000 square feet at 6465 E. Johns Crossing in Johns Creek; 100,000 square feet each at 6525 and 6575 The Corners Parkway in Peachtree Corners; and 50,000 square feet each at 6025 and 6075 The Corners Parkway in Peachtree Corners. Tenants at these properties include Sprint, Anheuser-Busch, Toshiba and TW Telecom. Glenfield Capital has selected CBRE to handle property management for the portfolio. Glenfield has also selected Adam Viente of JLL to lease the Peachtree Corners assets and Michael Howell and Hunter Henritze of Lincoln Property Co. to lease the Johns Creek building.
STOCKBRIDGE, GA. — The LaSalle Group plans to open Autumn Leaves at Stockbridge, the first freestanding memory care facility in Stockbridge, this fall. The property is roughly 20 miles southeast of Atlanta near the intersection of Chadwick Commons and Monarch Village Way. The 26,000-square-foot property will provide specialized care to nearly 50 residents living with Alzheimer’s, dementia and memory impairment.