PARKVILLE, MD. — The Greysteel Co. has arranged the sale of Joppa-Perring Retail Center, a 39,500-square-foot property fully leased to Savers Thrift Superstore, the largest for-profit thrift store chain in North America. The store, which sold for approximately $6.9 million, is located in Parkville, about seven miles northeast of Baltimore. The property also includes a Checker’s restaurant. Gil Neuman of Greysteel represented the seller, Heritage Properties Inc., and procured the buyer, Joppa Mart LLC, in the transaction.
Southeast
CHESAPEAKE, VA. — CBRE|Hampton Roads has brokered the sale of Great Bridge Apartments, a 100-unit multifamily community located in Chesapeake’s Great Bridge neighborhood near Battlefield Boulevard. Dan Johnson and Hank Hankins of CBRE|Hampton Roads represented the seller, Baltimore-based Property Capital Group, in the transaction. North Bay Group purchased the apartment community from Property Capital for an undisclosed amount. Great Bridge Apartments is part of an eight-property, 1,640-unit multifamily portfolio that CBRE is marketing.
RALEIGH, N.C. — Grubb Properties and Rubenstein Partners have teamed up to acquire a two-building office campus totaling 467,000 square feet in the Research Triangle Park. The Class A office buildings were built and formerly occupied by telecommunications company Ericsson. Grubb and Rubenstein plan to renovate and reposition the two properties.
COLUMBIA AND NORTH CHARLESTON, S.C. — ElmTree Net Lease Fund II has acquired a 16,000-square-foot office building in North Charleston and a 42,000-square-foot office building in Columbia for a combined $6.9 million. URS Corp. will occupy both properties under a 10-year lease. The North Charleston building is part of the Riverview Corporate Park and the Columbia building is in the SCRA Carolina Research Park.
JUPITER, FLA. — The Fresh Market has signed on as the anchor tenant of The Shops at Fisherman’s Wharf in Jupiter. The shopping center is located at the intersection of East Indiantown Road and Intracoastal Pointe Drive. The Fresh Market’s 20,900-square-foot store is expected to open in the summer of 2014. The shopping center’s new owner, Elion Partners, is implementing a multimillion dollar renovation to the property. The project team for the shopping center includes assistant developer Michael Hotte with Echion, leasing broker Atlantic Retail Properties and property manager Transwestern. Prime Sites Inc. represented The Fresh Market in the deal.
WILMINGTON, N.C. — A 50,000-square-foot Dick’s Sporting Goods and 24,000-square-foot Marshalls have signed on to anchor the 203,000-square-foot Mayfaire Community Center in Wilmington. Mayfaire Community Center is part of Mayfaire, a 400-acre, master-planned community. The two new anchor tenants are part of the shopping center’s Phase II expansion, which is expected to open in November 2014. A third anchor store is expected to be announced in the near future. Greenville, N.C.-based BrodyCo. Inc. and Wilmington-based Zimmer Development Co. are co-developers of Mayfaire.
ATLANTA — Lincoln Property Co. Southeast, along with Cushman & Wakefield, has arranged the new lease of 28,299 square feet of office space at 55 Allen Plaza in Atlanta. The 350,000-square-foot office tower is located in downtown Atlanta. Tony Bartlett of Lincoln and Andy Sumlin of Cushman & Wakefield’s Atlanta office represented the landlord in the lease transaction. Carla Williams and Jeff Samaras of Cushman & Wakefield represented the tenant, Connecture Inc., an healthcare information systems firm. The company signed an 11-year lease to occupy the entire fourth floor of the building, which is now 93 percent leased.
LAKE WORTH, FLA. — Housing Trust Group, a Miami-based real estate developer and manager, has completed construction on Pine Run Villas, a $13 million, 63-unit affordable housing community in Lake Worth. The townhome-style community is located at 4726 Big Ben Lane. Pine Run Villas include 47 three-bedroom/two-bath units and 16 four-bedroom/two-bath units with attached garages. The community’s amenity package features a large clubhouse, pool, WiFi access, computer lab, a half-basketball court and a covered school bus stop. Rents range from $843 to $925 for the three-bedroom units and $930 to $1,034 for the four-bedroom units. The development is 100 percent occupied, with half of the units reserved for households earning no more than 50 percent of area median income.
WINDSOR MILL, MD. — A joint venture between Morgan Properties and Core Properties LLC has acquired the Windsor Mill Portfolio, a 500-unit multifamily portfolio consisting of three communities in Windsor Mill, located 12 miles northwest of Baltimore. The communities are located within a one-mile radius of each other outside the Baltimore Beltway. The portfolio includes two garden-style communities developed in 1965 and 1972, as well as a high-rise apartment building built in 1969. Jones Lang LaSalle represented the seller in the transaction.
VIRGINIA BEACH, VA. — ARA has arranged the sale of Greenwich Village, a 224-unit, Class A apartment community located in Virginia Beach. The community features a new clubhouse, resort-style swimming pool with a fountain, outdoor shaded lounges, covered grilling stations, picnic area, firepit, a planned dog park, new fitness center and a business center. Mike Marshall, Drew White and Wink Ewing of ARA represented the sellers, Virginia Beach-based Harmony Investments Inc. and Richmond, Va.-based Spy Rock Development, in the transaction.