FREDERICKSBURG, VA. — NAI KLNB has brokered the $2.3 million sale of a 55,000-square-foot, single-story warehouse building at 4406 Overview Drive in Fredericksburg. The buyer, Tobacco Road 2012 LLC, purchased the property from Baltimore-based Northeast Foods, a bread manufacturer. The property features 16 loading docks with 28-foot clear ceiling heights and 10,000 square feet of freezer space. John Milligan and Andy Georgelakos of NAI KLNB represented the seller in the transaction. George Kolentsi of Gatehouse Realty represented the buyer.
Southeast
SMYRNA, GA. — Atlanta-based Cocke Finkelstein Inc. has acquired The Park at Vinings, a 484-unit apartment community in Smyrna, for $49.5 million. CFLane, the apartment management subsidiary of Cocke Finkelstein Inc., will manage the community, which was 97 percent occupied at the time of sale. The Park at Vinings offers one-, two- and three-bedroom floorplans. Amenities include a two-story pool with waterfalls, six lighted tennis courts, a volleyball court, pond with a gazebo, playground, car care center and a dog park.
MIAMI BEACH, FLA. — Franklin Street Real Estate Services has brokered the $4.3 million sale of a 24-unit apartment building in Miami Beach. The apartment community is located at 8101 Crespi Blvd., about five minutes south of Bal Harbour and 15 minutes north of South Beach. Deme Mekras, Elliot Shainberg and David Reinke of Franklin Street represented the seller, a local investor, in the transaction. The buyer, a real estate investor and developer from Italy, purchased the asset with the intent to convert the project to a condominium development.
GOOSE CREEK, S.C. — Marcus & Millichap has brokered the $3.4 million sale of Springhill, a 192-unit apartment property at 100 Swift Blvd. in Goose Creek. Mark Boyce, Andrew Mays and Paul Vetter of Marcus & Millichap represented the seller, a bank/financial institution, in the transaction. The property was built in 1974 and was in the mid-70 percent occupancy range at the time of sale.
ATLANTA — Lincoln Property Co. Southeast has arranged office lease renewals totaling 30,048 square feet at Eleven Seventeen Perimeter, a Class A office building in Atlanta’s North Fulton submarket. Hunter Henritze and Michael Howell of Lincoln Property Co. represented the unnamed landlord in the transactions, which include: Troy University renewing its 13,291-square-foot lease. Kathleen Burke of Cresa Atlanta represented Troy. Visionaire Partners renewing its 6,273-square-foot lease. Pete Shelton of Colliers International represented Visionaire. Care Solutions renewing its 5,681-square-foot lease. Ryan Cone of Cone Middour Partners represented Care Solutions. CURE Childhood Cancer renewed and expanded its lease to 4,803 square feet. Greg Kindred of Richard Bowers & Co. represented the tenant.
GLEN BURNIE, MD. — First Potomac Realty Trust has signed Skyline Technology Solutions to an 11-year lease for 28,753 square feet at Aviation Business Park in Glen Burnie. Aviation Business Park features three single-story, Class A office buildings totaling 120,285 square feet. The property is located about two miles from Baltimore-Washington International Airport. The transaction with Skyline brings the park to 70 percent occupancy.
SANDY SPRINGS, GA. — Core Property Capital has selected SRS Real Estate Partners to lease Sandy Springs Gateway, Core’s new 21-acre mixed-use development underway in Sandy Springs, a suburb of Atlanta. The new development will be located at the intersection of Roswell Road and Windsor Parkway. Core Property Capital is developing the office and retail portions and JLB is developing the multifamily component of Sandy Springs Gateway. The property’s tenant roster will include Tupelo Honey Café, Urban Cookhouse, CVS/pharmacy, an unnamed restaurant concept and a specialty grocer. Core Property has begun demolition on the site and construction is expected to wrap up in spring 2015. Lily Heimburger and Adrienne Crawford of SRS Real Estate Partners represented Core Property Capital in the lease transactions with its new tenants. Sarah Williams of SRS represented Urban Cookhouse and Howard Zoldessy of Southern Management & Development LP represented Tupelo Honey Café. The additional tenants did not have broker representation.
WINCHESTER, VA. — Atlanta-based Cocke Finkelstein Inc. has acquired Peppertree Apartments, a 194-unit apartment community in Winchester, about 80 miles west of Washington, D.C. The garden-style property, which was 94 percent occupied at the time of sale, sold for $14.1 million. CFLane, the apartment management subsidiary of Cocke Finkelstein Inc., will manage the community.
ORLANDO, FLA. — McCraney Property Co. has signed a 10-year lease for a 200,000-square-foot build-to-suit in its Bent Oak Industrial Park project in Orlando. The tenant, national apparel distributor Bodek and Rhodes, will relocate from its current Orlando warehouse and expand from 140,000 square feet to 200,000 square feet. Construction of the 700,000-square-foot Bent Oak Industrial Park is slated to begin within the next 45 days with occupancy expected to begin in December. Matthew Sullivan, Wilson McDowell and Bobby Isola of Colliers International represented McCraney Property Co. in the lease negotiation. McCraney’s in-house team on the transaction included Steven McCraney, James Marvel and Andrew Jacobson. Scott Williamson and Rick Schuhwerk of JLL represented Bodek and Rhodes, which was also self-represented by Rich Weisbrod.
JACKSONVILLE, FLA. — Grandbridge Real Estate Capital has arranged an acquisition loan for Cross Creek Apartments, a 292-unit multifamily community in Jacksonville. The financing totaled approximately $5.4 million. The property features a clubhouse, laundry facilities, pool and playground. Michael Balan of Grandbridge’s Miami office originated the 10-year loan with a 30-year amortization schedule through a CMBS lender on behalf of the borrower, a Mexico-based real estate investor.