HOMESTEAD, FLA. — Trico Investments, a self storage developer and investor based in Irvine, Calif., has purchased a 500-unit, two-story self storage property located at 701 S. Homestead Blvd. in Homestead. The property was built on three acres in 1986. Trico purchased the facility in all cash from Homestead US 1 Self Storage LLC. Trico has developed and/or acquired approximately 100 self storage facilities, typically infill properties within populated areas with high barriers to entry.
Southeast
MIAMI — NorthMarq Capital has arranged $73 million in refinancing for a portfolio of 17 industrial buildings and four apartment complexes. The portfolio consists of 421,500 square feet of industrial space and 1,434 apartment units, all located in the Miami Lakes, Fla., area. Jeff Robertson of NorthMarq’s Miami office arranged financing through The Lincoln National Life Insurance Co. on behalf of the borrower, The Graham Cos.
TAMPA, FLA. — CBRE has arranged three loans totaling $72 million for the refinancing of a portfolio of 18 properties in Florida and Georgia. The portfolio features 12 Walgreens stores; a Publix-anchored shopping center; a small office complex featuring Bank of America, Baycare and Academie Davinci; a freestanding Applebee’s, Dunkin’ Donuts and Anytime Fitness; and the Safety Harbor Resort and Spa. Donald Jennewein and Michael Strober of CBRE’s Tampa office arranged the loans on behalf of the borrower, Safety Harbor, Fla.-based Olympia Development Group.
WASHINGTON, D.C. — A joint venture between Mack-Cali Realty Corp. and Fisher Brothers has entered into agreements to acquire a 50 percent interest in a luxury multifamily project under construction in the H Street submarket of Washington, D.C. The joint venture will purchase the interest for approximately $46.5 million. The project, located at 701 2nd St. N.E., features 377 apartment units, 25,000 square feet of retail space and a 309-space parking garage. The project’s amenities will include three rooftop decks with a 100-foot pool and hot tub, grilling stations and cabanas, a rooftop garden with an eco-pond and gardening plots for residents, a dog run, two landscaped gardens in courtyards and an outdoor projection screening area. The project is slated to finish construction in mid-2015. Mack-Cali’s Roseland subsidiary will manage the new asset. The project team includes Hickok Cole Architects, Rockwell Group, COOKFOX and Handel Architects.
ATLANTA — Franklin Street Real Estate Services has arranged the sale of a new freestanding Family Dollar in southwest Atlanta in an all-cash, 1031 tax-deferred exchange. Family Dollar has a new 10-year lease at the store, located at 5403 Old National Highway three miles from Hartsfield Jackson Airport. Mac McCall and Bryan Belk of Franklin Street represented the seller, a local developer, in the transaction. The buyer is based in California.
SHANNON, GA. — Stan Johnson Co. has brokered the $16.7 million sale of a 568,516-square-foot industrial property at 212 Burlington Road in Shannon, about 11 miles from Interstate 75 and 70 miles from downtown Atlanta. Ball Corp. LLC has a five-year lease at the property and Big Time Products LLC has a 10-year lease. Britton Burdette of Stan Johnson Co.’s Atlanta office represented the seller, a privately held real estate investment firm, and the buyer, a REIT, in the transaction.
CHANTILLY, VA. — NAI KLNB, in conjunction with C-III Realty Services LLC, has arranged the $5.6 million sale of Wynwood I and II, a two-building office portfolio spanning 88,000 square feet. The office buildings are located at 5160 and 5180 Parkstone Drive in the Chantilly submarket of Fairfax County in northern Virginia. Kevin Goeller, Chris Kubler and Josh Simon of NAI KLNB represented the seller, US Bank NA, in the transaction. Larry Fitzgerald of Newmark Knight Grubb Frank represented the buyer, Chalmers Property Co., in the transaction.
LANHAM, MD. — Terreno Realty Corp., an industrial real estate owner and operator, has purchased an industrial property in Lanham, about six miles from Washington, D.C., for approximately $5.6 million. The property, located at 4230 Forbes Blvd., is a rear-load light industrial building spanning 56,000 square feet. The property features nine dock-high doors and is fully leased to six tenants.
COCONUT CREEK, FLA. — Bluewater Builders Inc. is building a new 105-room Hampton Inn & Suites Hotel at the northeast corner of the Sawgrass Expressway and U.S. 441 in Coconut Creek. Morlin Hospitality Management will open the new hotel at the beginning of the second quarter in 2014. Anderson Architecture designed the new hotel, which will feature Jacuzzis in some suites, a heated pool, outdoor spa, three meeting rooms totaling 1,000 square feet, an exercise facility, refrigerator/microwave in every room, WiFi access, Direct TV and guest laundry facilities.
ATLANTA — Cassidy Turley has arranged a 52,976-square-foot lease at Circle 75 Office Park in Atlanta’s Galleria/Cumberland submarket. The tenant, Centene Corp., a healthcare services provider, will relocate to the office space at 1100 Circle 75 Parkway. Centene will occupy floors five, six and 11 for an eight-year term. Kirk Diamond, April Hawkinson and Erin Smith of Cassidy Turley’s Atlanta office, along with Scott Bazoian of the firm’s St. Louis office, represented the tenant in the lease transaction. Matt Spickard and Greg Frankum of Transwestern represented the landlord, SK Commercial. Centene Corp. previously occupied 38,562 square feet of office space in nearby Smyrna, Ga.