Southeast

HFF Closes $53.5M Sale of Whole Foods-Anchored Center in South Florida

by John Nelson April 28, 2015

WELLINGTON, FLA. — HFF has brokered the $53.5 million sale of Wellington Green Commons, a Whole Foods-anchored retail center in Wellington, a village in South Florida’s Palm Beach County. Built in two phases in 2008 and 2010, the 112,354-square-foot center was 98.5 percent leased at the time of sale to tenants such as AT&T, Chili’s Grill & Bar, Macaroni Grill, Jason’s Deli, Moe’s Southwest Grill, Massage Envy Spa, Orange Theory Fitness, AmTrust Bank, Posch Boutique, My Community Pharmacy and BP Amoco/Dunkin’ Donuts. Daniel Finkle, Luis Castillo, Nat Scarmazzi and Kim Flores of HFF represented the seller, Schmier & Feurring Properties, in the transaction. The buyer was Weingarten Realty Investors.

April 28, 2015

Georgia Retail Southeast

RCG Ventures, DRA Advisors Buy Shopping Center in Kennesaw for $46.5M

by John Nelson April 28, 2015

KENNESAW, GA. — Atlanta-based shopping center owner RCG Ventures has formed a joint venture with DRA Advisors to purchase Cobb Place, a 335,190-square-foot shopping center located along Ernest Barrett Parkway in Kennesaw, a northern suburb of Atlanta. The joint venture acquired the center from an undisclosed seller for $46.5 million. The property’s tenant roster includes Bed Bath & Beyond, Cost Plus World Market, DSW Shoe Warehouse, Ashley Furniture and American Signature Furniture. CBRE represented the seller in the transaction, and RCG Ventures was represented internally by Matt Klump.

April 28, 2015

Florida Office Southeast

CBRE Brokers $13.1M Sale of Fort Lauderdale Office Campus

by John Nelson April 28, 2015

FORT LAUDERDALE, FLA. — CBRE has arranged the $13.1 million sale of Merrill Lynch Plaza, a 77,878-square-foot office campus located at 2601-2611 E. Oakland Park Blvd. in Fort Lauderdale. An unnamed equity investor from Israel purchased the asset from BE ML FLL LLC. The office campus was 84.9 percent leased at the time of sale to tenants such as Merrill Lynch, Centennial Bank, Africa Adventure Co., Exit Ryan Scott Realty and The Darwin Agency. Dominic Montazemi, Miguel Alcivar, Greg Miller, Jason Hochman and Scott O’Donnell of CBRE represented the seller in the transaction.

April 28, 2015

The Corporate Office Centre at Tysons II

Office Southeast Virginia

Lerner Enterprises Signs Capital One to 136,000 SF Lease in Northern Virginia

by John Nelson April 28, 2015

TYSONS, VA. — Lerner Enterprises has signed Capital One Financial Corp. to a 136,000-square-foot office lease in Tysons, roughly 14 miles outside of Washington, D.C. Capital One will occupy six full floors at The Corporate Office Centre at Tysons II, an 18-story Class A office tower located at 1750 Tysons Blvd. Capital One anticipates moving into its new offices in late 2015. Brian Tucker, Moe Hamilton and John Dragelin of Cushman & Wakefield’s Virginia office represented Lerner Enterprises in the lease transaction. Jeffrey Roman and John DiCamillo of CBRE represented Capital One.

April 28, 2015

TownePlace Suites by Marriott Arundel Mills BWI Airport

Hospitality Maryland Southeast

MCR Development Completes Renovation of Metro Baltimore Hotel

by John Nelson April 28, 2015

HANOVER, MD. — MCR Development LLC has completed the renovation of the TownePlace Suites by Marriott Arundel Mills BWI Airport in Hanover, roughly four miles from the Baltimore/Washington International Thurgood Marshall Airport. The 109-room hotel is located at 7021 Arundel Mills Circle. The renovation included updating the lobby with new furniture and carpeting, installing new lighting fixtures and updating the hotel’s signage. This is the eighth hotel in the metro Baltimore area that MCR Development has renovated in the past 10 months.

April 28, 2015

2144 California St. N.W. Washington, D.C.

District of Columbia Multifamily Southeast

CBRE Brokers $27M Sale of Apartment Community in Northwest D.C.

by John Nelson April 27, 2015

WASHINGTON, D.C. — CBRE has brokered the $27 million sale of The Envoy, now known as 2144 California St. N.W., a 113-unit multifamily community in northwest Washington, D.C.’s Kalorama Heights community. A joint venture between Federal City Property Investors LLC and CBD LLC purchased the asset from an undisclosed seller. Robert Meehling and Yalda Ghamarian of CBRE’s Washington, D.C., office represented the seller, along with CBRE’s Bill Roohan, Mike Muldowney, Michael Rudolph, Brian Margerum and Martha Hastings. HFF arranged the joint venture equity partnership and secured debt financing through United Bank. The HFF team included Brenden Flood, Alan Davis, Dave Nachison, Bret Thompson, Tim Stanton, Daniel McIntyre, Nicholas Demas, Chuck Berman and Tracey Appelbaum.

April 27, 2015

Florida Industrial Southeast

Miller Construction to Renovate Fragrance Manufacturer’s Facility in Deerfield Beach

by John Nelson April 27, 2015

DEERFIELD BEACH, FLA. — Cosmo International Fragrance has selected Miller Construction Co. to fully renovate a 93,955-square-foot production, distribution and office facility in Deerfield Beach. The property is located at 1341 W. Newport Center Drive within the Newport Center business park. The renovation includes reconfiguring the manufacturing and warehouse space, expanding a concrete mezzanine, constructing a roof structure and installing interior air quality monitoring and exhaust systems. Miller Construction plans to complete the renovation in December, whereby Cosmo will transfer its South Florida production and office locations to the property. The project team includes FSMY Architects, KAMM Consulting and MUEngineers Inc.

April 27, 2015

Georgia Healthcare Southeast

SG Property Services Buys Medical Office Portfolio in Metro Atlanta for $11.8M

by John Nelson April 27, 2015

ATLANTA — Atlanta-based SG Property Services has acquired a portfolio of three Class A medical office buildings in metro Atlanta for $11.8 million. Totaling 60,000 square feet, the properties include Johns Creek Medical Building in Johns Creek, Marble Mill Medical Center in Marietta and Hospital Way in Stockbridge. The facilities are more than 95 percent leased and are located immediately adjacent to hospital anchors.

April 27, 2015

Florida Retail Southeast

Avison Young Brokers $5.4M Sale of Retail Center in Davie

by John Nelson April 27, 2015

DAVIE, FLA. — Avison Young has brokered the $5.4 million sale of Flamingo Commons, an 18,000-square-foot strip center and outparcel located at 4401 S. Flamingo Road in Davie. The property was 87 percent leased at the time of sale to tenants such as SunTrust Bank and Dunkin’ Donuts. Michael Fay, John Crotty and Joshua Ladle of Avison Young represented the seller, LNR Partners, in the transaction. The Avison Young team found potential buyers using Auction.com. The buyer, JDV Properties LLC, has retained Avison Young for leasing and management services.

April 27, 2015

Industrial North Carolina Southeast

Piedmont Properties/CORFAC Arranges Brewery Lease in Charlotte

by John Nelson April 27, 2015

CHARLOTTE, N.C. — Piedmont Properties/CORFAC International has arranged NoDa Brewing Co.’s 15-year lease at 2921 N. Tryon St. in Charlotte. In the fall, NoDa Brewing will occupy the 33,000-square-foot industrial building, which triples its current 11,000-square-foot footprint at 2229 N. Davidson St. The future facility will have office space, production space and a tap room that is open to the public. Frank McCleneghan of Piedmont Properties/CORFAC represented NoDa Brewing in the lease transaction. The landlord, Hop, Drop and Loco LLC, recently purchased the facility from Ray Roofing for approximately $1.4 million. The property was constructed in the 1920s as a vinegar manufacturing plant for Speas Vinegar. There are plans in place to designate the facility as an historic property.

April 27, 2015

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