NEWNAN, GA. — Batson-Cook Construction has begun construction on a new $48 million addition to the Cancer Treatment Centers of America (CTCA) at Southeastern Regional Medical Center in Newnan. The addition will include 121,000 square feet of new space and 30,000 square feet of remodeled space. Batson-Cook, which delivered Southeastern Regional Medical Center in 2012, will build CTCA’s addition in four phases: two vertical additions, the addition of 25 patient rooms and a penthouse and a four-story addition. A one-story surgery expansion is also underway at CTCA.
Southeast
HOMEWOOD, ALA. — Hendricks-Berkadia has arranged the sales of the 150-unit Knoll Crest and the adjacent 127-unit Olympia Village, two apartment communities in Homewood. The total sales price was approximately $11.7 million. David Oakley of Hendricks-Berkadia represented the seller, Birmingham, Ala.-based Knoll Crest Partners LLC/Olympia Partners LLC, in the transaction. As part of the transaction, the buyer, New Jersey-based Knoll Crest Holding Co. LLC/Olympia Partners LLC, assumed two existing Fannie Mae loans totaling approximately $9.9 million. The buyer also plans to renovate both properties.
CHARLOTTE, N.C. — Trinity Partners has arranged the $11.1 million sale of the 200,000-square-foot Arrowridge Business Park in southwest Charlotte. The property features four flex buildings located at 8107, 8227, 8301 and 8041 Arrowridge Blvd. The property is currently 83 percent leased to tenants such as Hobart Corp., Bonsal American, Sears Home Improvement, CentiMark Corp. and Miller Electric Co. Dunn Mileham of Trinity Partners represented the seller, a Florida-based investor group, in the transaction. The buyer is Virginia-based Medalist Properties.
JACKSONVILLE, FLA. — Bi-Lo Holdings LLC, the parent company of the BI-LO and Winn-Dixie supermarket chains, plans to convert seven existing Harveys stores in Georgia to Winn-Dixie stores and three existing Winn-Dixie stores in Georgia to Harveys stores. Last month, Bi-Lo Holdings received approval from the Federal Trade Commission to proceed with the transaction to acquire the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize Group pending the divestiture of 12 stores by Bi-Lo Holdings, and Delhaize Group retaining two stores and converting them to the Food Lion banner. The following Harveys stores will convert to Winn-Dixie: · 341 Venture Drive in Brunswick · 5711 Altama Ave. in Brunswick · 284 Hyde Park Commons in Brunswick · 2714 Osborne Road in Saint Marys · 2111 Bemiss Road in Valdosta · 4036 Bemiss Road in Valdosta · 1715 Norman Drive in Valdosta The following Winn-Dixie stores will convert to Harveys: · 1208 Crawford St. in Americus · 2800 Old Dawson Road in Albany · 1553 US 19 South in Leesburg
MONTGOMERY, ALA. — Beech Street Capital has provided a Freddie Mac CME loan for the acquisition of Bell Station and Watchman Court Apartments in Montgomery. The contiguous properties total 252 units. Chad Thomas Hagwood of Beech Street’s Birmingham, Ala., office originated the loan on behalf of the borrower, EBSCO Watchman Drive. EBSCO plans to combine the operations of both properties, which had separate ownership prior to the transaction. Jimmy Adams of Multi Housing Advisors (MHA) brokered the sale. The sale is the first transaction to close since Beech Street Capital and MHA formed their alliance in mid-January.
LAKELAND, FLA. — Coldwell Banker Commercial Saunders Real Estate has brokered the $562 million sale of more than 380,000 acres of land in north Florida, which is one of the largest land sales in Florida’s recent history. Dean Saunders and Jack Vogel of Coldwell Banker represented the buyer, AgReserves Inc., in the transaction. TAP Advisors represented the seller, St. Joe Co. “This transaction between two of Florida’s largest and most committed land stewards is a meaningful reminder of the economic and ecological value of agriculture in our state,” says Adam Putnam, Florida’s commissioner of agriculture.
FORT MYERS, FLA. — Developer Aileron Investment Management and general contractor Brooks & Freund have started construction on Channelside, a 325-unit, Class A apartment community in Fort Myers. The property will feature one-, two- and three-bedroom units with each unit offering granite countertops, 42-inch wood cabinets and ceiling heights exceeding nine feet. The community will feature a fitness center, lounge, internet café and game room, resort-style swimming pool, covered outdoor lounge and a dog park. The project is a joint venture partnership between Aileron Capital Management LLC, acting as developer and investor, and Atlantic American Partners as the primary limited partner. The design team includes architects PDS Architecture and Atlas Engineering & Design. The project, which is the first new large-scale apartment development in Fort Myers since 2006, is scheduled for an August 2015 completion.
ARLINGTON, VA. — Atlanta-based Invesco Real Estate has sold Randolph Square, a nine-story, 189,871-square-foot office building in Arlington, about five miles west of Washington, D.C. The Class A office building is located in The Village of Shillington development at 2800 S. Randolph St. The LEED Gold-certified property is fully leased to the United States Patent and Trademark Office. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented Invesco in the sale of the asset to Easterly Partners.
FOUNTAIN INN, S.C. — Special-purpose entity TDI-Southchase has acquired a 40-acre site in the Southchase Business Park in Fountain Inn, about 20 miles southeast of Greenville. The buyer is planning a 250,000-square-foot industrial light manufacturing or distribution facility at the site. NAI Earle Furman is leading the development, marketing and management services for the project. Atlanta-based TPA Group, whose principals lead TDI-Southchase, is providing investment and capital services. TDI-Southchase plans to either sell the facility or lease it to one, two or three tenants upon completion. The project team includes Atlanta-based architect Wakefield Beasley & Associates and Greenville-based civil engineer Bluewater Civil Design. The facility will break ground this spring and wrap up construction in the first quarter of 2015.
FAIRHOPE, ALA. — Country Place Senior Living has opened its first assisted living property in Fairhope at 8127 Gayfer Road Extension. The 24-suite property, known as Country Place Senior Living of Fairhope, is designed so that every resident’s room is within 150 feet of all the features and amenities, including 24/7 staffing and emergency response systems, housekeeping services, laundry services and life-enrichment programs.