LANHAM, MD. — Greystone has provided $15.9 million in Fannie Mae DUS financing for Whitfield Towne Apartments, a 322-unit apartment community located in Lanham. Andrew Ellis of Greystone originated the loan. The borrower, Rockville, Md.-based Avis-R Co., will use $2.4 million from the loan for capital improvements. Marc Troop of Eastern Union Commercial assisted in the transaction.
Southeast
MURFREESBORO, TENN. — Dollar General Corp. has opened its 11,000th store, located in Murfreesboro, about 34 miles south of Nashville. Dollar General anticipates opening 650 new stores in 2013 and creating approximately 6,000 new jobs. The company has created nearly 30,000 new jobs since 2007.
Lease renewals and, in some instances, expansions into larger layouts, are occurring in Atlanta as employers create new jobs. The metro has also landed some plum relocations recently. State Farm and General Motors have chosen the metro as the site for regional headquarters, and the firms will create thousands of jobs during the next several years. Many of the GM jobs are new information technology positions and they are coming here in response to the metro’s highly skilled and educated work force. As the region becomes an information technology hub in the Southeast, other employers are also adding workers. AT&T has expanded its presence by filling 600 IT positions and plans to hire an additional 1,000 employees throughout the state. Additionally, Airwatch, a mobile software firm, has already hired 200 Atlanta workers and expects to create 600 more positions by year end. Other companies, such as InfoSystems, ExactTarget, PulteGroup Inc. and Spanx, are also planning to expand operations in the metro. Scheduled expansions by these employers and recent additions to payrolls have helped to fill office space that has been vacant since the trough of the recession. The Atlanta office market will make strides by the end of this year, …
CHARLOTTE, N.C. — Multi Housing Advisors (MHA) has arranged the sales of six apartment communities in North Carolina totaling 1,261 units. The properties sold for an aggregate $34.3 million. Marc Robinson and Jordan McCarley of MHA’s Charlotte office represented the sellers in all six sales. The buyers weren’t represented by brokers. The acquired properties include the 220-unit Beacon Eastchase in Charlotte, which Eller Capital Partners purchased for $8.3 million; the 109-unit Lemans at Lawndale in Greensboro, which SBV Communities purchased for $2.7 million; the 106-unit Lexington Commons in Greensboro, which SBV Communities purchased for $3.4 million; the 180-unit Fox Run in Greensboro, which Richard Anderson bought for $4 million; the 454-unit The Park in Charlotte, which Northland Investment Corp. sold to FMM for $12.3 million; and the 192-unit Hanover Landing in Charlotte, which Ellington Management Group purchased for $3.6 million.
GAINESVILLE, FLA. — A beam signing ceremony was held for the new Heavener Hall, the University of Florida School of Business Building. The $22 million project is set to begin its vertical construction. Orlando-based SchenkelShultz Architecture, in conjunction with Robert A.M. Stern Architects of New York, designed the building to achieve LEED-Gold certification. The 56,200-square-foot building will be located near the corner of University Avenue and 13th Street on campus. The project will include class rooms, study rooms, academic advisement areas, informal collaboration zones, a café on the ground floor and offices. The new building is slated for a September 2014 completion.
TAMPA, FLA. — Franklin Street Real Estate Services has arranged the $13.1 million sale of Seasons, a 240-unit apartment community located at 11305 N. 51st St. in Tampa. Darron Katton, Kevin Kelleher, Robert Goldfinger and Zach Ames of Franklin Street represented both the buyer, Seasons Property Holdings LLC, and the seller, Bayside Ventures IV LLC, in the transaction. Seasons has undergone more than $1.2 million in exterior renovations since January 2012, according to Franklin Street.
CLERMONT, FLA. — Marcus & Millichap has brokered the sale of Oakley Square Shopping Center, a 30,214-square-foot unanchored retail strip center located at 1500 Oakley Seaver Drive in Clermont. The shopping center sold for approximately $7.5 million. The shopping center’s tenants include AT&T, Firehouse Subs, The Vitamin Shoppe, Mattress One, Robata Japanese Steakhouse, CFE Credit Union, Key Health Pharmacy and Massage Envy. Ronnie Issenberg, Gabriel Britti, Jonathan Gerszberg and Roee Ben-Moshe of Marcus & Millichap’s Miami office represented the seller, an investment fund based in Bay Harbor Islands, Fla., in the transaction. Issenberg, Britti and Ben-Moshe also secured and represented the buyer, a Miami-based limited liability company.
NAGS HEAD, N.C. — CBRE | Hampton Roads has arranged the $2.7 million sale of South Beach Plaza, a two-building retail property located at 2424 S. Croatan Highway in Nags Head, part of North Carolina’s Outer Banks barrier islands. The 20,872-square-foot property’s tenants include Dunkin’ Donuts, Viva Mexican Restaurant, Sweet Frog Premium Yogurt and Jersey Mike’s. Patrick Gill and Joanna Hastings of CBRE | Hampton Roads represented the seller in the transaction.
PEACHTREE CORNERS, GA. — The city of Peachtree Corners has awarded Fuqua Development the right to build the $150 million Carillon Village, a mixed-use project that will create a pedestrian-friendly environment. The 20-acre development will be located on Peachtree Parkway, approximately 20 miles northeast of Atlanta in Gwinnett County. The project will include 150,000 square feet of retail that will feature a health club, restaurants and fashion tenants. The project will also contain Class A office space above 15,000 square feet of retail, along with 356 multifamily units and a 120-room boutique hotel. Throughout Carillon Village, which will be complete in fall 2014, the streets and sidewalks will connect to open spaces through walkways, plazas and landscaped areas. Fuqua Development will be in charge of developing the retail component of Carillon Village. Pope & Land Enterprises Inc. is the development coordinator. AMLI Residential will focus on the apartment development. Norcross, Ga.-based Cheeley Development is also a partner on the project.
MIAMI — Crews have begun demolition work on an existing structure at the site of Le Parc at Brickell, a planned 12-story luxury condominium building coming to Miami's Brickell neighborhood. The boutique condominium property will break ground later this fall, with an expected delivery in spring 2015. The project is a joint venture between Strategic Properties Group and ALTA Developers — a collaboration between Chile-based Aconcagua and Miami-based Archiplan USA. More than half of the building's 128 units have been sold, with prices ranging from the low $300,000s to about $700,000. The new project will overlook the adjacent Simpson Park. Amenities will include a fourth-floor pool deck, rooftop Skylounge with an outdoor bar/lounge area, fitness center, clubroom, entertainment area, business lounge with conference center, private entrance and garage parking. Le Parc at Brickell offers studio, one-, two- and three-bedroom layouts, along with two-story townhomes. Atton Hotels is developing a new 274-room hotel directly next door.