GAINESVILLE, FLA. — InterContinental Hotels Group (IHG) has signed a deal to bring a 120-room Hotel Indigo to Celebration Pointe, a new 125-acre mixed-use neighborhood being developed in Gainesville. The hotel will be located within the project between S.W. 49th Terrace and S.W. 50th Terrace. The hotel will feature a neighborhood bar and an interactive touchscreen display called Neighborhood Guide that guests can use to explore the area. The $170 Celebration Pointe development is scheduled to open by fall 2016. The Hotel Indigo Gainesville is also expected to open in 2016. Celebration Pointe Hotel Partners LLC owns the hotel, and Driftwood Hospitality will manage it upon completion.
Southeast
ORLANDO, FLA. — The Shopping Center Group has brokered the sale of two Orlando shopping centers for an aggregate purchase price of $26.6 million. Orange Blossom Center, a fully leased, 161,000-square-foot asset in south Orlando, sold for approximately $16.3 million. The center’s tenant roster includes Save-A-Lot, Planet Fitness, CitiTrends and Walgreens, which wasn’t included in the sale. The Shopping Center Group represented the seller, an affiliate of California-based PICOA Inc., in the transaction. A private investor from New York was the buyer. Additionally, Century Plaza, a fully leased, 135,000-square-foot shopping center in east Orlando, sold for $10.3 million. The asset’s tenant roster includes Aldi, Ross Dress for Less, Big Lots and dd’s Discounts. The Shopping Center Group represented the seller, Kimco Realty, in the sale of the asset to ARC Centers.
MCLEAN, VA. — Finmarc Management Inc. and SPMC Urban Properties has sold a two-story, 32,857-square-foot retail store located at 8209 Watson St. in McLean. Constellation 107th Street LLC purchased the asset for $22 million. The two-story building, which also features a two-story parking garage, is fully leased to Recreational Equipment Inc. (REI). The property is adjacent to Tysons Corner Center and the new Silver Line of the Washington Metro Transit System. Jonathan Hipp, Andrew Fallon and Jonathan Florin of Calkain Cos. LLC represented both the buyer and the sellers in the transaction.
CHESTER, S.C. — Newmark Grubb Wilson Kibler has arranged an 806,000-square-foot lease transaction for industrial space at 648 Wilson St. in Chester. The tenant was International Auto Logistics, a storage and maintenance shop for private vehicles for military personnel serving overseas. George McCutchen of Newmark Grubb Wilson Kibler represented the landlord, Breton Equity Corp., in the lease transaction.
MIAMI — CREC has secured a lease for a new 30,000-square-foot Ross Dress for Less at Miller Square Shopping Center, a 196,323-square-foot center in Miami. The asset is located at the southwest corner of 137th Avenue and Southwest 56th Street in Miami’s West Kendall submarket. CREC worked with owner Principal Real Estate Investors and manager Schiff Properties to demolish an underutilized 21,000-square-foot portion of Miller Square to make room for the new Ross store. Steven Henenfeld and Ruben Suarez of CREC arranged the lease deal on behalf of the landlord. Construction is expected to wrap up in 2015.
HARRISBURG, N.C. — Aston Properties has plans to develop Caldwell Crossing, an 85,000-square-foot shopping center in Harrisburg, a suburb of Charlotte. The Harris Teeter-anchored center will be located on the corner of Caldwell Road and Highway 49. Aston Properties plans to deliver the center in late fall 2015. Lauren Hansen of Aston Properties will handle leasing the remaining 26,000 square feet of small shop space and two outparcel stores. The design team for the project includes engineer Jeff Orsborn of Orsborn Engineering and architect Childrey Robinson.
KISSIMMEE, FLA. — HFF has arranged the sale of The LOOP, a 434,909-square-foot power center in Kissimmee. The asset is located on approximately 57 acres at the northwest corner of the intersection of Osceola Parkway and John Young Parkway. The property was built in 2005 and is currently 99 percent leased to 43 tenants, including Regal Cinema, Kohl’s, Sports Authority, Michael’s, Petco and CVS/pharmacy. AEW Capital Management LP sold the asset on behalf of its institutional clients to MetLife. Danny Finkle, Brad Peterson, Luis Castillo and Kim Flores of HFF represented the sellers in the transaction.
SANDY SPRINGS, GA. — Brown Realty Advisors has arranged the $21 million sale of Ansley Place, a 219-unit apartment community located in Sandy Springs. Walter Miller of Brown Realty Advisors represented the seller, Aspen Square Management, in the transaction. Investor’s Management Group was the buyer. The property was built in two separate phases in 1985 and 2000.
MECHANICSVILLE, VA. — Morgan Property Group LLC (MPG) has sold its recently developed freestanding Walgreens at the intersection of Mechanicsville Turnpike and Lee Davis Road in Mechanicsville, a suburb of Richmond, for $10.5 million. MPG sold the property to Pinak A. Mehta LLC and Nikki P. Mehta LLC. Dean Zang of Marcus & Millichap represented the seller in the transaction. Craig Pelouze of CBRE represented the buyers.
ORLANDO, FLA. — Franklin Street Real Estate Services has brokered the $1.4 million sale of two lender-owned apartment communities totaling 70 units in Orlando — Old Cheney and Abby. The assets, located at 5599 and 6031 Old Cheney Highway, were fully vacant for four years prior to the sale. Kevin Kelleher, Darron Kattan, Robert Goldfinger and Zach Ames of Franklin Street represented the buyer, a local investor, and the seller, a lender based in California.