WASHINGTON, D.C. — Donohoe Real Estate Services has arranged the sale of the Beaux Arts Building, a nine-story, 29,000-square-foot office building located on the corner of 15th and L streets in Washington, D.C.’s central business district. The asset, located at 1025 15th St. N.W., sold for $9.5 million. Charlotte Seale of Donohoe Real Estate Services represented the buyer, Honeybee Hospitality LLC, in the transaction. Honeybee plans to convert the office building into an independent hotel.
Southeast
WASHINGTON, D.C. — NAI KLNB has arranged the $8.8 million sale of a 160,000-square-foot industrial building, located at 6501-5427 Chillum Place N.W. in Washington, D.C. The multi-tenanted building, constructed in 1961, is located near the intersection of Kansas Avenue and Blair Road. The property’s tenants include the United States Postal Service and Gelberg Signs. An affiliate of Spectrum Partners LLC purchased the property from 6500 Chillum Associates LP. Chris Kubler of NAI KLNB brokered the transaction.
VALDOSTA, GA. — Marcus & Millichap has arranged the sale of a five-property student housing apartment portfolio in Valdosta. The assets sold for approximately $25.1 million. John Brigel of Marcus & Millichap’s Tampa office represented the three sellers, all local apartment operators in Valdosta. Brigel also represented the buyer, an Atlanta-based limited liability company. Michael Fasano of Marcus & Millichap’s Atlanta office is the firm’s broker of record in Georgia. The five properties are located near Valdosta State University campus. The properties include Brooks Trace, Brookwood Forest, Jackson Square, Little Jo Court and Sustella Townhomes.
LOGANVILLE, GA. — HFF has brokered the sale of Loganville Crossing, a 120,819-square-foot, grocery-anchored retail center in Loganville. Jim Hamilton, Richard Reid and Mike Allison of HFF represented the seller, Loganville Crossing Investment LLC & Downtown Square Capital LLC, in the transaction. American National Insurance Co., which Realm Realty Co. Inc. represented, purchased the asset. Loganville Crossing is located at 4753 Atlanta Highway (U.S. Highway 78) northeast of Atlanta. Built in 2008, the center is 98 percent leased and is anchored by Kroger. Other tenants include Edible Arrangements, Great Clips, Marco’s Pizza, Quest Diagnostics and Shane’s Rib Shack.
ORLANDO, FLA. — CBRE has arranged a lease at The Plaza on University for Bento Café, a Pan-Asian/sushi restaurant. Bento Café is the first tenant announced in the new redevelopment site at The Plaza on University, located across from the University of Central Florida campus. The restaurant will occupy approximately 3,865 square feet at the northwest corner of University Boulevard and Alafaya Trail. The restaurant is scheduled to open in August 2014. Bobby Palta of CBRE represented the landlord, American Campus Communities (ACC), in the lease deal. The Plaza on University is a mixed-use redevelopment project currently under construction, and the redevelopment, situated on a 14-acre site, will have 60,000 square feet of retail below 360 units of student housing with a total of 1,700 parking spaces. ACC expects to complete the development of The Plaza on University by September 2014.
HANOVER, MD. — Cushman & Wakefield has arranged a new 11,106-square-foot lease for Nexius Solutions Inc. at 7550 Teague Road within the Arundel Mills Corporate Park in Hanover, about 15 miles southwest of Baltimore. AMCP-2 LLC owns the office property. Richard Thomas and Charlie Beck of Cushman & Wakefield represented the tenant in the lease deal. Nexius, a wireless services and software solutions provider, employs approximately 70 people locally.
ALEXANDRIA, VA. — Inland American Lodging Group Inc., a wholly owned subsidiary of Inland American Real Estate Trust Inc., has acquired the 107-room luxury boutique Lorien Hotel & Spa in Alexandria, Va. Inland purchased the hotel for approximately $45 million. The hotel is located along King Street in historic Old Town Alexandria. Constructed in 2009, the hotel offers 6,500 square feet of flexible meeting space, a full-service spa and fitness center and three culinary venues created by award-winning chef, Robert Wiedmaier. The Lorien Hotel & Spa represents the 10th hotel Inland American has acquired this year.
SPANISH FORT, ALA. — Rock Apartment Advisors, a Birmingham, Ala.-based subsidiary of Harbert Realty Services, has arranged the sale of The Vinings at Spanish Fort, a 240-unit, Class A apartment community. The property, located in Spanish Fort in the Eastern Shore submarket of Mobile, sold for approximately $22.1 million. Bo Furry of Rock Apartment Advisors represented the seller, New York-based Somerset Partners LLC, in the transaction.
ATLANTA — Scott & Associates Inc. has acquired Circle 75 Office Park, a three-building office complex totaling 710,000 square feet. The office park is located on Circle 75 Parkway in Atlanta’s Cumberland/Galleria submarket. This is the first time the property has traded hands in more than 30 years, according to Scott & Associates. SK Commercial Realty will handle the leasing, management and project consulting services for the property.
SPARTANBURG, S.C. — Rank Distributors Inc., a global sourcing service for the hospitality industry, has signed a lease with Chambers Street Properties, a net lease office and industrial REIT, for 342,096 square feet of space in Spartanburg. Rank Distributors signed the 10-year lease for space in Chamber Street’s Community Cash Complex, a five-building, 552,000-square-foot warehouse/distribution center property.