VILLAGE OF PINECREST, FLA. — Franklin Street Real Estate Services has brokered the $7.4 million sale of a single-tenant office building at 9480 S. Dixie Highway in the Village of Pinecrest, a suburb of Miami. The property is fully leased to Intermex Wire Transfer, which recently signed a seven-year lease extension. Deme Mekras, Elliot Shainberg and David Reinke of Franklin Street represented the buyer, Miami Har LLC, in the transaction. The seller, ATS Intermex LLC, owned the property for a little less than a decade.
Southeast
WILMINGTON, N.C. — Mount Pleasant, S.C.-based Ziff Properties (ZPI) has sold the Murchison Building, a 60,000-square-foot mixed-use property in downtown Wilmington, for approximately $3.4 million. The 10-story property was built in 1914. John Hinnant of Maus, Warwick, Matthews & Co. represented the California-based buyer in the transaction. Patrick Gildea of CBRE represented ZPI.
FORT LAUDERDALE, FLA. — Stiles Realty has arranged more than 47,000 square feet of new leases, expansions and renewals at Commercial Place I & II, a 175,432-square-foot office campus in Fort Lauderdale. Madelayne Garcia of Stiles Realty represented the landlord, Western National Life Insurance Co., in the lease transactions. New leases totaling 15,271 square feet include: HDR Engineering Inc., an architectural and engineering firm, signed leases totaling 10,540 square feet. Keith Edelman and Scott Goldstein of JLL represented HDR in the transaction. International Tourism Management Services LLC signed a new lease for 3,218 square feet. Zachary Wendelin of Cresa represented the tenant. H5 Group, a wholesale importer of watches and jewelry, signed a new lease for 1,513 square feet. Barry Brizel of Raintree Properties & Investments represented H5. Renewed leases totaling 31,808 square feet include: Progressive Casualty Insurance has renewed for 21,576 square feet and expanded for another 5,417 square feet. The national insurance provider signed a 64-month lease. Zachary Wendelin of Cresa represented Progressive. Network solutions provider Presidio Networked Solutions Inc. renewed its lease for 4,815 square feet. Mary Catherine Washo of DTZ Americas represented Presidio.
JUPITER, FLA. — Rendina Healthcare Real Estate has begun construction on a two-story, freestanding healthcare facility for Jupiter Medical Center in Jupiter. The medical office building will be located approximately two miles south of Jupiter Medical Center. The 26,000-square-foot Margaret W. Niedland Breast Center will be a LEED Silver-certified facility offering 3D mammography, breast ultrasound, Positron Emission Mammography (PEM), stereotactic breast biopsy, bone density, and breast and general MRI services. The second floor of the facility will also house the high-risk and genetics program and be available for physician office and educational space. The project team includes general contractor Anderson-Moore Construction, architect Davis Stokes Collaborative, landscape architect Cotleur & Hearing and engineer Jeff H. Iravani Inc. The facility is slated to open in the first quarter of 2015.
BRADENTON AND COCOA BEACH, FLA. — HFF has closed on the $24.5 million sale of two Publix-anchored centers in Central Florida. The properties include the 120,990-square-foot Beachway Plaza in Bradenton and the 68,577-square-foot Cornerstone Plaza in Cocoa Beach. Beachway Plaza is 84.8 percent leased to tenants such as Bealls Outlet and Staples. Cornerstone Plaza is 86 percent leased to tenants such as Cocoa Beach Realty and Beef O’Brady’s. Danny Finkle and Luis Castillo of HFF represented the seller, Retail Properties of America Inc., in the transaction. In addition to the sale, HFF also arranged $10.1 million in acquisition financing for the purchase of Beachway Plaza. Chip Sykes of HFF arranged the five-year loan through Guggenheim Commercial Real Estate Finance LLC on behalf of the borrower, Atlanta-based Branch Properties LLC.
WASHINGTON, D.C. — Rock Creek Property Group, a Washington, D.C.-based real estate investment company, has sold a three-story, 43,000-square-foot office building in Washington, D.C., for approximately $14.9 million. Lakritz Adler Real Estate Investments purchased the asset, located at 5185 MacArthur Blvd. N.W. Tenants at the property include Starbucks Coffee and UPS.
LITHONIA, GA. — Griffin-American Healthcare REIT III Inc. has purchased DeKalb Professional Center, a 19,000-square-foot medical office building in the Atlanta suburb of Lithonia. The property is located at 5461 Hillandale Drive, roughly one mile from DeKalb Medical Hillandale, a 100-bed acute care hospital. The property is currently 81 percent leased to four tenants, including RMS Lifeline and The Emory Clinic. The REIT purchased the asset in an all-cash transaction from McWhirter Realty Partners LLC for an undisclosed price. Lee Asher and Chris Bodnar of CBRE represented the seller in the transaction.
PIKESVILLE, MD. — An affiliate of Harbor Group International LLC (HGI) has purchased Annen Woods, a 131-unit, Class B apartment community in Pikesville, a suburb of Baltimore. The property is currently 94 percent leased. HGI plans to invest roughly $1.1 million to complete upgrades to the property. HGI currently owns more than 4,800 multifamily units in the Baltimore/Suburban Maryland metro area.
BOCA RATON, FLA. — ARA has arranged the $80.3 million sale of San Marco at Broken Sound, a 336-unit luxury villa and townhome community in Boca Raton. The asset was 96 percent occupied at the time of the sale. Hampton Beebe and Avery Klann of ARA represented the seller, Chicago-based Capri Capital Partners LLC, in the transaction. Marc deBaptiste and Richard Donnellan of ARA assisted in the sale. The buyer was Miami-based BC Property Investments.
WEST PALM BEACH, FLA. — New England Development plans to open Marketplace at the Outlets, a 300,000-square-foot retail center currently under construction, in the fall. The center is located adjacent to the recently opened Palm Beach Outlets in West Palm Beach. The center will feature 20 stores, including Bed Bath & Beyond, DSW Designer Shoe Warehouse, Nordstrom Rack, Old Navy, PetSmart, Pier 1 Imports, Sports Authority, T.J. Maxx, Ulta Beauty and Whole Foods. New England Development, also the developer of Palm Beach Outlets, partnered with Eastern Real Estate in the development of Marketplace at the Outlets.