MACCLENNY, FLA. — Integra Real Estate Capital, a commercial mortgage brokerage and advisory firm based in New York City, has secured a $4 million loan for the refinance of Cornerstone Square Shopping Center, a 111,681-square-foot property located in Macclenny. The center is anchored by Tractor Supply, Peebles, Dollar Tree, CATO and Hibbett Sporting Goods. Russell Kimyagarov of Integra arranged the non-recourse, 10-year loan on behalf of the borrower, a California-based ownership group.
SAVANNAH, GA. — CenterPoint Properties has completed a 3.1-acre container yard for KW International, an international third-party logistics provider, at CenterPoint Intermodal Center–Savannah. John Neely and Danny Chase of Colliers International represented CenterPoint and KW International, respectively, in the lease transaction. KW International’s new facility is located four miles from the Georgia Ports Authority, adjacent to Highway 307 and within minutes of I-95 and I-16. Facility features include a 900-square-foot office, 105 trailer parking stalls and 12 car-parking stalls. KW International began operations at the build-to-suit property on Jan. 1.
LEESBURG, VA. — Trammell Crow Co. (TCC) and Keane Enterprises Inc. have broken ground on the new global headquarters for K2M Group Holdings Inc., an international medical device company that designs, develops and commercializes technologies and techniques related to the spine. The 146,000-square-foot build-to-suit project will be located in Keane’s Oaklawn master-planned community in Leesburg, a suburb of Washington, D.C. K2M’s new headquarters will be comprised of a 62,000-square foot, three-story office building and an 84,000-square-foot, one-story research and development building. The office building will house general administrative, executive and sales staff, and the research and development building will contain office, conferencing, research and assembly space. TCC and Keane expect to wrap up construction on the project and open for occupancy in early 2016.
MT. JULIET, TENN. — JLL has brokered the $48 million sale of Aventura at Providence, a Class A apartment community located at 2500 Aventura Drive in Mt. Juliet, 10 miles east of downtown Nashville. Centennial Holding Co. purchased the 334-unit property from TriBridge Residential. JLL also arranged a seven-year, $35 million acquisition loan on behalf of Centennial Holding Co. Derrick Bloom, David Gutting and Vincent Lefler led JLL in representing TriBridge Residential in the sale. Faron Thompson and John Bray led JLL in securing the fixed-rate, Freddie Mac acquisition loan.
FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) has completed the construction of Village Place Apartments, a $15 million, 112-unit senior affordable housing community for ages 55 and up. The mid-rise community is located at 720 N.E. 4th Ave. in downtown Fort Lauderdale, blocks from the Las Olas Boulevard district. The property, which is already 100 percent leased, features units with granite countertops, split-level designs and eco-friendly features such as low-flow plumbing fixtures, low-VOC paint, Energy-Star qualified appliances, Energy-Star windows and energy efficient HVAC systems. HTG and architect Sotolongo Salman Henderson of Miami have designed and constructed Village Place to be designated a green building in line with the National Green Building Standards. The apartment community includes a gated entrance, community center with computers and Wi-Fi access throughout, swimming pool and a fitness room with exercise equipment. Residents will also have access to The Wave Modern Streetcar transit system that is scheduled to open in 2017. Project financing was provided by U.S. Bank in the amount of $38.6 million through its community development subsidiary, including a $13.2 million construction loan; a $3 million permanent financing loan; and $22.4 million of Low-Income Housing Tax Credit (LIHTC) equity from U.S. Bancorp Community …
LITTLE ROCK, ARK. — HFF has brokered the sale of the 288-room DoubleTree by Hilton Downtown Little Rock hotel in downtown Little Rock. The 14-story hotel has recently undergone $10 million in capital improvements and features the Plaza Grille and Lounge, a business center, swimming pool, fitness center and 12,000 square feet of meeting space. The hotel, located at 424 W. Markham St., is attached to the Robinson Center Music Hall, which is undergoing a $68.6 million reconstruction. The hotel is located within walking distance to the River Market Entertainment District, the William J. Clinton Presidential Center and Library and Highway 167. Denny Meikleham, John Bourret and Alan Suzuki of HFF represented the seller, a joint venture between Trinity Hotel Investors LLC and BayNorth Capital LLC. An affiliate of New York-based Fifth Avenue Capital LLC and Waterford Hotel Group purchased the hotel for an undisclosed amount.
WHITE MARSH, MD. — American Tire Distributors has signed a 138,240-square-foot lease with Chesapeake Real Estate Group LLC for warehouse and distribution space at 11503 Pocomoke Court, a new building under construction in the Baltimore Crossroads @95 business community near White Marsh in Baltimore County. The international tire supplier expects to take occupancy upon completion of the building in fall 2015. Baltimore Crossroads @95 is a 1,000-acre mixed-use business community configured to support more than 6 million square feet of Class A office, R&D/flex, warehouse and industrial and retail space, as well as residential components that include a luxury apartment complex, condominiums, townhomes and single-family homes.
NORFOLK, VA. — The city of Norfolk has opened the first phase of the Norfolk Consolidated Courts Complex, a 315,000-square-foot complex that combines three courthouses into one. Both phases will cost approximately $121.5 million to develop. The eight-story Phase I will consolidate the Circuit and General District courts into a single facility. Phase II, which is slated for an early 2017 completion, will add the Juvenile and Domestic Relations courts. The design team, including architect Fentress Architects and general contractors Archer Western and Heery International, is constructing the complex to achieve LEED Silver certification.
ORLANDO, FLA. — CBRE has brokered the $47.1 million sale of Art Avenue Apartment Homes, a new 300-unit luxury apartment community located at 10201 Lee Vista Blvd. in Orlando. An undisclosed entity purchased the property from the Rohdie Group, a residential real estate management firm. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction. Completed in 2014, the community features a large clubhouse, computer lounge, TV lounge, coffee bar, fitness center, children’s art room, outdoor fire pit and resort-style pool.
BELCAMP, MD. — DTZ has arranged a 100,000-square-foot lease renewal of warehouse space at Riverside Distribution Center in Belcamp, roughly 26 miles northeast of Baltimore along I-95. Exeter Property Group owns the 599,000-square-foot Riverside Distribution Center. The tenant, Aaron’s, a furniture and home appliances retailer, will use the warehouse for distribution and fulfillment purposes for the Mid-Atlantic region. Michael Walsh, Kirk Diamond and Erin Smith of DTZ represented Aaron’s in the lease transaction.
