CHEVY CHASE, MD. — The JBG Cos. and JBGR Retail have sold Phase I of Tysons West, a new mixed-use, transit-oriented development in Chevy Chase. LaSalle Investment Management purchased the project’s initial phase, which features more than 165,600 square feet of commercial space, including an urban-format Walmart, 24 Hour Fitness, several restaurants and 30,000 square feet of medical office space. Delivered in August 2013, the asset is located at 1500 Cornerside Blvd. immediately adjacent to the Spring Hill Metro station on the new Silver Line Metrorail. Phase II of Tysons West will include 400,000 square feet of residential space and another 50,000 square feet of retail, and Phase III will consist of 300,000 square feet of residential space, 380,000 square feet of office space and 50,000 square feet of retail. Eastdil Secured brokered the sale of Tysons West. JBGR Retail will continue to manage the property.
Southeast
TAMPA, FLA. — Fairlead Commercial Real Estate has purchased Fifth Third Center, a 19-story, 281,072-square-foot office tower located at 201 E. Kennedy Blvd. in Tampa’s central business district. Fairlead purchased the asset with its equity partner Bridge Investment Group Partners. The tower’s tenant roster includes Fifth Third Bank, the United States Government, Deloitte, Saxon Gilmore, Skoda Minotti, Marshall Dennehey, Conroy Simberg and Walter Moore. Dale Peterson, Anne-Marie Ayers and Courtney Decker of CBRE represented the seller, Terrace Tower Tampa LLC. Fairlead has tapped Ayers of CBRE as the third-party leasing agent for Fifth Third Center.
NEWNAN, GA. — Batson-Cook Development Co. (BCDC) has partnered with Ackerman Medical to develop Newnan Centre for Health, a 25-acre, 250,000-square-foot medical office outpatient campus in Newnan. Located on Lower Fayetteville Road, the building will bring state-of-the-art Class A office space to the area for physician groups and healthcare providers. Newnan Centre for Health is situated between Cancer Treatment Centers of America, which is undergoing a $48 million expansion, and the 362,000-square-foot, 136-bed Piedmont Newnan Hospital.
MIAMI — La Belle Properties Inc. and King Ship Corp. have sold the 128-unit Miami Gardens Apartments for $8.1 million. The multifamily complex is located at 660 and 674 N.W. 117th St. in Miami. Steve Sussman of NAI Rauch Weaver Norfleet Kurtz & Co. represented the sellers in the transaction. Kris Wagnes of Keyes Commercial represented the buyer, Miami Gardens Realty LLC.
FORT LAUDERDALE, FLA. — CBRE has arranged the $66.4 million sale of a 225,650-square-foot office tower located at 200 E. Broward Blvd. in Fort Lauderdale’s central business district. Boston-based TA Associates Realty purchased the asset for roughly $294 per square foot. The 21-story asset was 88 percent leased at the time of the sale. Christian Lee, Jose Lobon, Charles Foschini and Chris Apone of CBRE represented the seller in the transaction. Sandra Andersen of JLL assisted the CBRE team with market leasing.
CHAMBLEE, GA. — Cocke, Finkelstein Inc. (CFI), a multifamily investment firm, has acquired a six-acre tract of land at the intersection of Peachtree Boulevard and Chamblee-Tucker Road in Chamblee. CFI plans to develop a 283-unit apartment community known as Chamblee Gateway at the site. CFI plans to deliver the Class A property in early 2016. The company is also currently developing two other Atlanta-area apartment communities with Enfold Properties: The Ardmore in Buckhead and Collier Lofts in Buckhead West.
ATLANTA — Westbridge Partners has acquired the retail component of a new mixed-use building located at 691 14th St. in Atlanta’s West Midtown neighborhood. Completed in 2014, the property features 197 apartment residences and 10,980 square feet of retail space. Patterson Real Estate Advisory Group arranged acquisition financing through Hamilton State Bank on behalf of Westbridge. Westbridge purchased the retail portion from Greystar and has executed leases with Cooks and Soldiers (4,625 square feet), Kane Boutique (1,192 square feet) and an unnamed national coffee/tea company (1,700 square feet).
FORT MYERS AND ORLANDO, FLA. — Blue Rock Partners LLC and Konover South LLC have purchased two apartment communities in Florida for $27.5 million combined. The partnership purchased the 288-unit Montego Bay Apartment Homes in Fort Myers for $16.1 million and the 200-unit Palm Harbor Apartment Homes in Orlando for $11.4 million. The new owners plan to invest $4.5 million in capital improvements to both properties and rename them as The Park at Positano and The Park at Salerno, respectively.
NEW SMYRNA BEACH AND TALLAHASSEE, FLA. — HFF has arranged the $23 million sale of two Publix-anchored shopping centers in Florida. The properties include the 118,451-square-foot New Smyrna Beach Regional in New Smyrna Beach and the 71,526-square-foot Forest Village in Tallahassee. Publix Super Markets Inc. purchased New Smyrna Beach Regional (90 percent leased) for $16 million and Forest Village (79 percent leased) for $7 million. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Equity One Inc., in the transaction.
SNELLVILLE, GA. — Olshan Properties has acquired The Shoppes at Webb Gin, a 351,000-square-foot retail center located in Snellville, an eastern suburb of Atlanta. The property, located at the intersection of Scenic Highway 124 and Webb Gin House Road, features 333,795 square feet of retail space and 17,210 square feet of office space. Olshan purchased the project from a joint venture between institutional investors advised by J.P. Morgan Asset Management and Bayer Properties. Eric Zimmermann and Miles Theodore of Eastdil Secured represented the seller in the transaction.