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.
Southeast
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.
ST. PETERSBURG, FLA. — The Praedium Group and partner Greystar Real Estate have sold Lincoln Shores Apartments, a 631-unit multifamily community in St. Petersburg, for $53 million. The Praedium Group purchased the asset in January 2010 for $24.2 million. The property features three resort-style swimming pools, lighted tennis courts, four racquetball courts, a basketball court, sand volleyball area and a fitness center. The community fronts a 14-acre lake, which has direct access to Tampa Bay.
HUNTERSVILLE, N.C. — Apartment developer Northwood Ravin LLC has broken ground on the Apartments at Holly Crest, a $50 million, 400-unit apartment community in Huntersville, roughly 14.5 miles north of Charlotte. The project will be located along Sam Furr Road across from Northcross Shopping Center. The community will feature 35,000 square feet of community greenspace and 15,000 square feet of amenity space, including a 4,900-square-foot clubhouse, 4,600-square-foot spa, fitness center, business center and private dog parks for small and large breeds. Monthly rents are estimated to start at $900 per month for a 700-square-foot, one-bedroom apartment and up to $1,700 per month for a 1,600-square-foot, three-bedroom unit.
ATHENS, GA. — Atlanta-based Thrive Senior Living has commenced construction on The Village at Athens, a 70-unit assisted living and memory care facility located near the intersection of Highway 316 and the Oconee Connector in Athens. Thrive is co-developing the property in a joint venture with Paragon Real Estate and Summit Healthcare REIT. The general contractor for the project is Athens-based Compass Contracting. The facility will feature a spa, beauty salon, fitness center, doctors office, movie theater and courtyards with outdoor fireplaces.
DAVIDSON, N.C. — Childress Klein Properties has commenced construction on Two Harbour Place, a 51,000-square-foot, three-story office/retail project in Davidson, roughly 22 miles north of Charlotte. The property is part of the 50-acre Harbour Place mixed-use development that Childress Klein constructed starting in 2007. Paint company Valspar will relocate its Charlotte office to anchor the property, located at the northwest corner of Griffith and Jetton streets. Valspar’s office space will also include a training center. Childress Klein expects to deliver the property in February 2015. The developer worked with the Lake Norman Regional Economic Development Corp. and the Town of Davidson on the project.
ALPHARETTA, GA. — Fiserv Inc., a financial services technology firm, has selected tvsdesign to design a new lobby and the interiors of two six-story office buildings in Alpharetta. The 375,000-square-foot project will house more than 2,000 Fiserv employees who will be consolidated from several Fiserv offices in metro Atlanta. Completion on the project is slated for 2015. Fiserv chose to locate in Alpharetta because of the city’s reputation as a technology hub, with more than 600 technology companies located within city limits.