BOCA RATON, FLA. — Marcus & Millichap has brokered the $11.1 million sale of Addison Court Shoppes, a 16,860-square-foot shopping center with a Bank of America outparcel in Boca Raton. The property’s address is 17940 N. Military Trail. Douglas Mandel and Brian Rosen of Marcus & Millichap represented the seller, a limited liability company based in Boca Raton. The shopping center’s tenant roster also includes Starbucks Coffee, Offerdahl’s, a salon, a drycleaner and Kee Grill.
Southeast
ATLANTA — Two Atlantic Station office towers owned by CBRE Global Investors — 201 17th St. and 271 17th St. — have been designated as BOMA 360 Performance Buildings by the Building Owners and Managers Association (BOMA) International. The BOMA 360 Performance Program recognizes commercial properties that demonstrate best practices in building operations and management, according to BOMA. In addition to the BOMA 360 designation, 201 17th St. also received the 2013-2014 Regional TOBY Award in the 250,000- to 499,999-square-foot category, and 271 17th St. received the 2013-2014 Regional TOBY Award in the 500,000- to 1 million-square-foot category. This year both towers were also awarded LEED-EB Gold certification, as well as ENERGY STAR certification.
GREENSBORO, N.C. — Hammes Co. has delivered the latest phase of the Moses H. Cone Memorial Hospital campus in Greensboro. The 230,000-square-foot expansion is comprised of a surgical suite, 16 operating rooms, a loading dock and a six-story patient tower with 96 private beds. The emergency department capacity was also extended to 79 treatment stations, including 17 designated for pediatric emergency care. The next phase for Cone Health’s campus is the opening of an expanded central energy plant. In addition to Hammes Co., the development team includes architect Perkins + Will, engineer Affiliated Engineers Inc., general contractor Brasfield & Gorrie and civil engineer/landscape architect Stimmel Associates PA.
ATLANTA — Hilton Worldwide’s Homewood Suites by Hilton has opened Homewood Suites by Hilton Atlanta Airport North, its eighth Homewood property in the Atlanta market. The six-story, 122-suite hotel is owned by Rajesh Patel and located at 3405 Bobby Brown Parkway, less than one mile from Hartsfield Jackson International Airport. The hotel offers daily breakfast, complementary Wi-Fi and an airport shuttle service.
ATLANTA — Hilton Worldwide’s Homewood Suites by Hilton has opened Homewood Suites by Hilton Atlanta Airport North, its eighth Homewood property in the Atlanta market. The six-story, 122-suite hotel is owned by Rajesh Patel and located at 3405 Bobby Brown Parkway, less than one mile from Hartsfield Jackson International Airport. The hotel offers daily breakfast, complementary Wi-Fi and an airport shuttle service.
ATLANTA — HFF has arranged $14 million in financing for DoubleTree Suites by Hilton Hotel Atlanta-Galleria, a 154-room hotel in Atlanta’s Galleria/Cumberland submarket. The hotel’s address is 2780 Windy Ridge Parkway, approximately eight miles from downtown Atlanta. The hotel’s amenity package includes a sun-lit atrium lobby, the Edge Bar and Cliff Restaurant, fitness center, outdoor swimming pool, 5,000 square feet of meeting space and a business center. The borrower, Encore Hospitality LLC, a division of Encore Enterprises Inc., will use the loan to acquire the hotel and implement a capital improvement program. Cullen Aderhold of HFF led the debt placement team to arrange the loan through Latitude Management Real Estate Investors.
ST. PETERSBURG, FLA. — Marcus & Millichap has brokered the $10.2 million sale of Gandy at 4th Street Storage, a 720-unit, six-building self storage property in St. Petersburg. The property, constructed in 2007, is located at 10111 Gandy Blvd. Michael Mele of Marcus & Millichap’s Tampa office represented the seller, a local developer, and the buyer, a national self storage REIT. The sales price ($143 per square foot) is the highest price per square foot for a self storage property that Marcus & Millichap has seen since the downturn, according to Mele. Units range in size from nine square feet to 300 square feet. Approximately 82 percent of the units are climate controlled.
BRUNSWICK, GA. — Blanchard & Calhoun Commercial has brokered the $4.7 million sale of Cypress Mill Square, a 260,516-square-foot shopping center in Brunswick. The retail property is located at the intersection of Cypress Mill Road and Altama Avenue. Cypress Mill Square was 92 percent leased at the time of sale to tenants such as Winn Dixie and Big Lots. Ryan McArdle, Steve Collins and David Rivers of Blanchard & Calhoun brokered the transaction. The team worked with the buyer, RCG Ventures, and the seller, Halpern Enterprises. Scott Tarbet of RCG Ventures and Bill Brown of Halpern Enterprises assisted in the transaction.
DAYTONA BEACH, FLA. — CBRE has arranged the $17.9 million sale of Indigo Plantation, a 304-unit multifamily community located at 100 Powell Blvd. in Daytona Beach. Built in 1989, the apartment community is currently 97 percent occupied and features a resort-style swimming pool, fitness center, dog park, tennis courts and barbecue areas. Shelton Granade, Luke Wickham and Justin Basquill of CBRE led the sales team in representing the undisclosed seller in the transaction.
DURHAM, N.C. AND FLORENCE, S.C. — Grandbridge Real Estate Capital has closed $17.1 million in first mortgage loans for The Shops at Erwin Mill in Durham and Crossroads Shopping Center in Florence. Taylor Williams of Grandbridge’s Jacksonville, Fla., office originated both loans. The 10-year loan for the refinancing of the 86,901-square-foot Shops at Erwin Mill was arranged through an unnamed life insurance company. The 10-year loan for the refinancing of the 110,675-square-foot Crossroads was arranged with a 30-year amortization schedule and two years interest-only payments through an unnamed CMBS lender.