BRANDON, FLA. — Publix Grocery Stores Inc. has purchased Kingsway Crossing, a 63,423-square-foot, Publix-anchored shopping center in Brandon, about 11 miles west of Tampa. Publix purchased the asset from Valrico Lake Brandon LP, a private Canadian investment entity, for $8.2 million. The shopping center, located at 1254 Kingsway Road, is 90 percent leased to tenants including Great Clips, Metro PCS and Kumon Learning Center. Mark Shellabarger and Dennis Carlson of CBRE represented the seller. CBRE handles the property management and leasing of Kingsway Crossing.
Southeast
COLUMBIA, S.C. — Lincoln Property Co. Southeast has brokered the $2.3 million sale of the Seventy Seven Building, a two-story, 57,375-square-foot office building in Columbia. Denton Shamburger and Chip Sipple of Lincoln Property’s Atlanta office represented the seller, GE Commercial Finance Business Property Corp., in the transaction. Roger Winn of NAI Avant represented the buyer, Red Hills Holdings LLC. Seventy Seven Building is located at 101 Business Park Blvd., about 10 minutes from downtown Columbia. The building was 37 percent leased at the time of the sale.
ATLANTA — RLJ Lodging Trust has acquired the 194-room Hyatt Atlanta Midtown for $49.5 million. The hotel, which opened in 1987 as a Wyndham, underwent a $23 million renovation and conversion to the Hyatt brand in 2013. Hodges Ward Elliott Inc. represented the undisclosed seller in the transaction. RLJ Lodging Trust now owns 147 hotels and two planned hotel conversions in 21 states and Washington, D.C.
COLLEGE PARK, MD. — Greystone has provided a $29.3 million bridge loan on The Enclave at 8700, a student housing property located within a mile of the University of Maryland in College Park. The Enclave features 94 one-, two- and four-bedroom suites, as well as a 24-hour complimentary shuttle bus, study lounge, electronic key access, fitness center and Wi-Fi. Andrew Ellis of Greystone closed the 24-month floating rate loan with two six-month extensions and an interest-only period for the first 18 months. Jared Cassidy of Marcus & Millichap Capital Corp. and Payton Banks of Marcus & Millichap originated the financing.
POOLER, GA. — Carolina Holdings Inc. has opened Landing 405, a retail strip center located at 405 Pooler Parkway in Pooler, about 10 miles outside of Savannah. The property’s tenant roster includes Starbucks Coffee, Tijuana Flats and McAlister’s Deli. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Harper Corp. GrandSouth Bank provided construction financing.
DUNN, N.C. — Flagship Healthcare Real Estate Fund has acquired Harnett Health Medical Park, an 18,623-square-foot medical office building in Dunn, about 40 miles south of Raleigh. The property is located at 803 Tilghman Drive and is adjacent to Harnett Health’s 101-bed Betsy Johnson Hospital. Built in 2012, the medical office building is fully leased to Harnett Health with tenants including Dunn Medical Services, WakeMed Cardiology and Harnett Health’s Wound Center.
HAMPTON, GA. — NorthMarq Capital has arranged $13 million to refinance Walden Landing Apartment Homes, a 240-unit apartment community in Hampton, roughly 28 miles south of Atlanta. Bill Matone of NorthMarq Capital’s Charlotte office arranged the 10-year Freddie Mac loan with a 30-year amortization schedule.
RESTON, VA. — Cassidy Turley has brokered the $41 million sale of a Class A office building located at 1775 Wiehle Ave. in Reston, about 22 miles west of Washington, D.C. First Potomac Realty Trust purchased the fully leased, 130,048-square-foot property from Normandy Real Estate Partners. The asset’s largest tenant is Odin, Feldman & Pittleman P.C. Paul Collins, Bill Collins, James Cassidy, Drew Flood and Jud Ryan of Cassidy Turley represented Normandy in the transaction.
MIAMI — Co-developers Carrfour Supportive Housing and Pinnacle Housing Group have opened Amistad Apartments, a $24 million affordable housing community. The 89-unit property is located at 517 S.W. 9th St. in Miami’s Little Havana neighborhood. The community is designated for formerly homeless and low-income residents. More than 1,500 people filled out resident applications to live in the new community, and a lottery was held to select from those applications.
NEWNAN, GA. — Colliers International has arranged the $10.2 million sale of Merchant’s Crossing, a 174,059-square-foot shopping center located at 50 Bullsboro Drive in Newnan, about 39 miles southwest of Atlanta. Slate Properties Inc. purchased the Kroger-anchored shopping center from Brixmor, a REIT that owns more than 500 grocery-anchored shopping centers in the United States. Joseph Montgomery III and Tony D’Ambrosio of Colliers International represented the seller in the transaction.