ST. PETERSBURG, FLA. — Plaza Advisors has brokered the $21.1 million sale of the South Pasadena Shopping Center, a 165,886-square-foot retail center in St. Petersburg. South Pasadena’s tenant roster includes Walmart Neighborhood Market, Beall’s Outlet, Dollar Tree and CVS/pharmacy. Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller in the transaction. Pine Tree Commercial Realty purchased the asset from VV Florida I LP, a German syndication.
ROCKVILLE, MD. — Scheer Partners has arranged a full-building, 33,800-square-foot lease at 9708 Medical Center Center Drive in the Center for Life Science | Shady Grove campus in Rockville. GlycoMimetics signed the lease with the building’s owner and operator, BioMed Realty Trust Inc. The property recently underwent extensive renovations, including the addition of a fitness center, shared conferencing facilities, covered walkway, upgraded landscaping, campus lighting, exterior finishes and campus signage. Henry Bernstein and Nathan Crowe of Scheer Partners represented BioMed Realty Trust in the lease transaction.
LAKELAND, FLA. — Walker & Dunlop Inc. has closed a $108 million Fannie Mae loan for Cypress Lakes, a manufactured housing community in Lakeland. Walker & Dunlop worked with Keystone Commercial Capital to originate the 10-year loan with a fixed interest rate and four years of interest-only payments on behalf of the borrower, Blair Group. Brendan Coleman of Walker & Dunlop partnered with Ryan Nelson and Charlie Williams of Keystone Commercial Capital in the transaction.
BRASELTON, GA. — Ridgeline Property Group and Hillwood Investment Properties will jointly develop a 1.1 million-square-foot distribution center in Braselton, a city in the I-85/Northeast submarket of Atlanta. The Braselton Commerce Center will have the largest available block of Class A distribution space in the Southeast, according to the developers. The property will be located less than one mile from the I-85/Highway 53 interchange. The building will feature 36-foot clear heights, 56-foot wide bay spacing, concrete truck courts, ESFR fire suppression and a 243-space parking section for trailers. The project will break ground in November and wrap up construction in the second quarter of 2015. Colliers International Atlanta will market and lease the asset.
FORT MILL, S.C. — Atlanta-based Bull Realty has brokered the $12 million sale of Carolina Commons Medical Center, a 58,195-square-foot medical office building in Fort Mill. Paul Zeman of Bull Realty’s national healthcare capital markets group represented the seller, Charlotte-based RED Partners, in the transaction. The buyer was American Healthcare Investors. The primary tenant of Carolina Commons is Novant Health.
SPARTANBURG, S.C. — Alliance HSP Spartanburg LLC, an affiliate of Alliance Partners HSP LLC, has acquired the Viking Warehouse, a 350,000-square-foot warehouse/distribution facility in Spartanburg. Campbell Lewis of CBRE represented Alliance in the transaction. The facility is comprised of two warehouse buildings located on a 28.7-acre site at 2071 Fryml Drive. The property was formerly occupied by American Fast Print but was vacant at the time of sale. Alliance plans to invest in capital improvements to the property and reposition it from a Class C asset to a Class A asset. Completion of the renovation is expected for spring 2015. Campbell Lewis and John Scott of CBRE will be responsible for leasing Viking Warehouse, and Steve Campbell of CBRE will oversee property management.
JACKSONVILLE, FLA. — NorthMarq Capital has arranged $11.5 million in refinancing for Evergreen Club Apartments, a 240-unit multifamily community located at 9611 Southbrook Drive in Jacksonville. Greg Duvall of NorthMarq’s Kansas City office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.
ABERDEEN, MD. — Baltimore-based Chesapeake Real Estate Group LLC and its financial partner, San Antonio-based USAA Real Estate Co., have acquired a 48.4-acre tract of land in Aberdeen for the development of Perryman Logistics Center. The 571,000-square-foot project will be located at 610 Chelsea Road. Chesapeake and USAA expect to deliver the distribution center in the summer of 2015. Bill Pellington, Toby Mink and Jon Casella of CBRE represented the buyers in the land transaction. Chesapeake and USAA have also retained the CBRE team to market and lease the property, which is being developed on a speculative basis. The seller was FO Mitchell Bro. Once complete, the property will feature 36-foot clear heights, 175 rear-loading docks, two drive-in docks, a 130-foot truck court and an adjacent 500-space parking lot.
TAMPA, FLA. — CBRE Debt & Structured Finance has arranged a $39.5 million acquisition loan for nine office buildings in Sabal Park, a master-planned business park in Tampa. Sabal Park spans 1,000 acres near the interchange of I-4 and I-75 and features an office campus, five restaurants, three hotels, a dry cleaner, three banks and a childcare facility. Charles Foschini, Christopher Apone and Christian Lee of CBRE arranged the five-year, 65 percent LTV loan through BankUnited of Tampa on behalf of the borrowers/buyers, IP Capital Partners and Fir Tree Partners.
UPPER MARLBORO, MD. — Dougherty Funding LLC has provided a $16.5 million construction bridge loan for the Commons at Largo, a multifamily development in Upper Marlboro. When complete, Commons at Largo will include approximately 1,600 Class A multifamily units, parking structures and ground-level retail space. Dougherty Funding provided the loan to Commons at Largo LP. Dougherty serves as the lead lender, disbursing agent and servicer for the loan.
