MIAMI — ZOM has commenced construction on Montage at Met 3, a 32-story, 462-unit high-rise apartment building in downtown Miami. The residential units will be built atop a ground-level Whole Foods and a 12-level parking garage. The new tower will be part of Met 3, a mixed-use development located at the northeast corner of SE 2nd Avenue and SE 3rd Street. The project is a joint venture between ZOM and an investor account advised by UBS Global Asset Management. Montage at Met 3’s units will range from 680 to 1,450 square feet. The main amenity level is on the 13th floor, which will feature an open lounge area, fitness center, spa with treatment rooms, screening room, landscaped deck, swimming pool, yoga lawn, bocce ball court, outdoor grill and kitchen and two outdoor bars. ZRS Management LLC will manage the new apartment tower. Suffolk Construction is the general contractor of the community, which will begin pre-leasing in the fourth quarter of 2015. Broad and Cassel represented ZOM in its purchase of the site, and Stearns Weaver represented the seller.
Southeast
FORT LAUDERDALE, FLA. — Brookwood Financial Partners LLC has acquired Comerica Tower, an 11-story office property in Fort Lauderdale’s central business district, for $32.5 million. Brookwood purchased the 166,098-square-foot asset from Beacon Investment Properties LLC. Comerica Tower was 82 percent occupied at the time of the sale. Christian Lee, Jose Lobon, Charles Foschini, Chris Apone, Deanna Lobinsky and Travis Herring of CBRE represented Beacon in the sale. Jonathan Kingsley of JLL also represented the seller in the transaction.
GREENSBORO, N.C. — Cushman & Wakefield | Thalhimer has arranged the sale of the Airport Distribution Center, located on Chimney Rock Road in Greensboro. The buyer, Somerset Acquisitions Inc., purchased the asset for approximately $19.2 million. Airport Distribution Center consists of five buildings totaling 764,550 square feet. The property is 87 percent leased to tenants including Ralph Lauren, FedEx Office and Bunzl. Chris Norvell, Scot Humphrey and Bill Simerville of Cushman & Wakefield | Thalhimer represented the sellers, CIP Real Estate and Blue Vista Capital. John Schultz of Triad Commercial Properties worked in conjunction with Cushman & Wakefield | Thalhimer to represent the sellers.
ECRU, MISS. — Marcus & Millichap has arranged the sale of the American Furniture Manufacturing facility in Ecru. The approximately 1 million-square-foot property, made up of five conjoined buildings, sold for roughly $10.8 million. AFM, a domestic manufacturer of upholstered furniture, has more than 12 years left on its lease. AFM has been operating out of the facility since its founding in 1998. Ben Tashakorian and Toby Boessen of Marcus & Millichap’s San Diego office represented the seller, as well as the California-based buyer, in the transaction. Anne Williams of Marcus & Millichap assisted in the transaction.
KNOXVILLE, TENN. — Knoxville-based Wood Properties has arranged a 30,000-square-foot lease at an office building south of downtown Knoxville. Brad Blackwell and George Brown of Wood Properties represented the landlord, Airport Office Partners, in the lease deal. The tenant, K12 Management Inc., will open a family support campus at the office building, which will bring roughly 300 jobs to the area.
ALEXANDRIA, VA. — Walker & Dunlop Inc. has arranged $75 million in construction financing for the development of Park Meridian at Eisenhower Station in Alexandria. The 25-story, Class A apartment community will total more than 505 multifamily units. The amenity package includes concierge services, a swimming pool, state-of-the-art fitness facility and top-floor clubroom. Tyler Blue and Paul Wallace of Walker & Dunlop arranged the 12-year, fixed-rate loan through Quadrant Real Estate Advisors LLC on behalf of the buyer, Paradigm Development Co.
CHARLESTON, S.C. — The Flournoy Cos. has begun construction on 35 Folly, a 300-unit multifamily development located alongside the Ashley River in Charleston. The property will be located at the intersection of Folly and Albemarle roads. Flournoy Cos. has developed more than 2,000 units in 10 projects in South Carolina. The property will feature studio, one- and two-unit bedrooms averaging a little under 900 square feet. Ryan Foster and Blake Breimann of Flournoy are handling the project’s construction. Paterson Real Estate Advisory Group helped procure construction financing and is collaborating on the overall capital structure of the project.
TAMPA, FLA. — Hendricks-Berkadia has brokered the sale of the 164-unit Newport Riverside and the 128-unit Newport Pointe in Tampa. Combined, the assets sold for approximately $10.2 million. Newport Riverside was built in 1968 and is located at 4111 N. Poplar Ave. Newport Pointe was built in 1974 and is located at 4900 N. MacDill Ave. Jason Stanton, Cole Whitaker and Hal Warren of Hendricks-Berkadia represented the seller, Monument Real Estate Services LLC, in the transaction. The buyer, Wisco 7 LLC, plans to renovate the two apartment communities.
CARY, N.C. — ARA has arranged the sale of Courtney Reserve at Cary Park, a 240-unit multifamily community in Cary. Blake Okland, Dean Smith, John Heimburger and Sean Wood of ARA represented the undisclosed seller. DPR Cary LLC, a private investor, purchased the property. The property was built in 2007 and offers pedestrian-friendly retail access to the adjacent Cary Park Town Center, a Harris Teeter-anchored retail center.
CORAL GABLES, FLA. — Sperry Van Ness South Commercial Real Estate Advisors brokered the sale of a three-story mixed-use office building in Coral Gables. The asset sold for approximately $2.5 million. Laura Kefalidis of Sperry Van Ness’ Miami office represented the buyer, 815 Ponce investments LLC, in the transaction. The 14,376-square-foot property features ground-floor retail space and covered parking. Miguel Alcivar of CBRE represented the seller, GML LLC.