WINTER SPRINGS, FLA. — Avison Young has brokered the $1.4 million sale of Tuskawilla Professional Offices, a 20,000-square-foot, three-story office building located at 1030 Spring Villas Point in Winter Springs. David Duckworth of Avison Young represented the seller, AHM INV LLC, in the transaction. The buyer was DPN USA LLC.
Southeast
COLUMBIA, S.C. — NAI Avant has brokered the $1.3 million sale of a 22,000-square-foot retail and warehouse property located at 1313 Bush River Road in Columbia. Autozone Inc. purchased the asset from Bush River Crossings Associates. Bobby Hathaway of NAI Avant represented the seller in the transaction. The building will be divided into a parts supply warehouse and a 6,000-square-foot Autozone store. Autozone will use the warehouse portion as a supply hub for its regional stores.
The Raleigh/Durham/Chapel Hill Triangle has captured national attention as a powerhouse of innovation and economic growth for many years, winning a steady stream of accolades for growth, technology, entrepreneurial drive and quality of life. So it comes as no surprise that while some parts of the country are still limping along in what has been the longest and most tepid recovery in recent memory, the Triangle is booming. Indeed, it’s hard to find a metric that shows the region as anything less than thriving. The unemployment rate declined sharply over the past year, down over 2 percentage points from the first quarter of 2013 to 5.1 percent in April 2014, and the region has been adding jobs — more than 26,000 nonfarm jobs in the past four quarters and 7,700 in March 2014 alone. As a result, the region’s industrial market is rapidly accelerating. Raleigh-Durham has consistently placed in the top 10 fastest growing MSAs since 1980, and the Triangle’s industrial market is primarily geared toward providing goods and services for the burgeoning local population, ensuring that demand for institutional-grade industrial product remains strong. This dynamic has also created a tendency toward a high degree of diversification, and both factors …
DEERFIELD BEACH, FLA. — Skanska USA has signed a $47 million contract to renovate and expand the Broward Health North Campus in Deerfield Beach. The project will include a 34,444-square-foot emergency department with trauma bays, operating rooms, more than 50 new examination rooms and a new 22,604-square-foot energy plant. Skanska will begin construction on the project in August, and the entire project is slated for a summer 2016 completion.
ALEXANDRIA, VA. — Finmarc Management Inc. has purchased Waterfront Center I and II in Alexandria from Gates Hudson for $31.5 million. The two office buildings total more than 150,000 square feet and are cumulatively 69 percent leased. Waterfront Center I, located at 801 N. Fairfax St., was delivered in 1971, and Waterfront Center II, located at 209 Madison St., was delivered in 1987. With the transaction, Finmarc Management has acquired or disposed of more than $427 million worth of properties in the last 24 months.
CHARLOTTE, N.C. — Grandbridge Real Estate Capital has arranged a $53 million loan to refinance a 13-asset industrial portfolio located in the Charlotte MSA. The portfolio totals more than 1.7 million square feet. Chris Caison of Grandbridge arranged the loan with a fixed interest rate through an unnamed life insurance company on behalf of the owner, Charlotte-based Beacon Partners. Beacon Partners leases and manages more than 9 million square feet of office and industrial space in the Carolinas. C.J. Webb of Grandbridge assisted in the deal.
ASHEVILLE, N.C. — Capstone Apartment Partners has brokered the $14.8 million sale of the historic Kenilworth Inn Apartments in the Biltmore Village in Asheville. The 93-unit multifamily community was fully occupied at the time of the sale. The apartment community, originally built in 1892 and renovated in 2003, is listed on the National Register of Historic Places. Austin Green and Alex McDermott of Capstone Apartment Partners’ Charlotte office represented the seller, Kenilworth Apartments LLC, in the transaction. Saratoga Capital LLC was the buyer.
MIAMI LAKES, FLA. — Sperry Van Ness South Commercial Real Estate Advisors has arranged the $6.2 million sale of 65,000 square feet of fractured office condos located at 14750 N.W. 77th Court in Miami Lakes. BB&T Bank sold 90 percent of the building’s office condos to the new ownership group, Kislak. Rene Vivo of Vivo Real Estate Group represented Kislak in the transaction. Matthew Rotolante, Caroline Camus and Eric Amat of Sperry Van Ness represented BB&T Bank.
WASHINGTON, D.C. — Strategic Hotels & Resorts Inc. has closed a $120 million limited recourse loan that is secured by the Four Seasons Washington, D.C. The new loan replaces the previous $130 million financing that was encumbering the property. Deutsche Bank Securities Inc. originated the five-year loan, which features a three-year initial term with two one-year extension options available to Strategic Hotels & Resorts.
ATLANTA — AWH Partners LLC has purchased the former Hotel Melia, a 501-room hotel in Atlanta’s Midtown neighborhood, in an all-cash transaction. AWH will reposition the property into a dual-branded hotel, with both brands belonging to InterContinental Hotels Group (IHG). After the renovation is complete, the new property will include 360 Crowne Plaza rooms and 102 Staybridge Suites rooms. The dual hotel is scheduled to open in January 2016. Spire Hospitality will operate the two hotels under a franchise agreement with IHG. Upon completion, the 25-story property will feature 31,000 square feet of meeting space, three restaurants and two lobbies.