CHARLESTON, S.C. — HREC Investment Advisors has arranged the sale of the 289-room InnPlace Hotel in Charleston. The hotel was formerly a Sheraton Charleston Airport Hotel. Monty Levy, Paul Sexton and Scott Stephens of HREC Investment Advisors represented the seller, an affiliate of LNR Partners LLC, in the transaction.
Southeast
ROCKVILLE, MD. — New Boston Fund Inc. has inked two leases for office space totaling 11,944 square feet at Building III of the Johns Hopkins University Montgomery County Campus in Rockville. Pediatric Nursing Certification Board leased 6,387 square feet and Cato Research leased 5,557 square feet at the property. Danny Sheridan and Morgan Sullivan of JLL represented New Boston Fund in the lease transaction. Andrew Genova of West, Lane & Schlager Realty Advisors represented the Pediatric Nursing Certification Board, and Matt Brady of Scheer Partners Inc. represented Cato Research.
KENNER, LA. — Marcus & Millichap has brokered the $55 million sale of a 174,522-square-foot Home Depot located at 2625 Veterans Blvd. in Kenner. Bob Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the buyer, Kleban Holdings, in the transaction. William Hoffpauir of Marcus & Millichap is the firm’s broker of record for Louisiana. Eric Carlton of Colliers International listed the property.
ATLANTA — McCarthy Building Cos has broken ground on Grady Health System’s new 90,224-square-foot, five-story emergency tower located north of the Grady Hospital’s main campus. The project, estimated to cost $52.7 million, will also include the renovation of 77,599 square feet of existing space. The tower will include an intake area, public entrance, waiting area, 35 exam rooms, two resuscitation rooms and a staff support area. McCarthy expects to finish construction in 2016. Charlotte-based Freeman White Inc. is the project architect.
BALTIMORE CITY, MD. — Atlantic Realty Cos. has purchased Alameda Marketplace, a 113,000-square-foot shopping center located at 5600-5658 The Alameda in Baltimore City, for approximately $11.3 million. Atlantic Realty purchased the property from Continental Realty Corp. The asset was 95 percent leased at the time of sale to Stop Shop Save, Rite-Aid, Family Dollar, Goodwill, Bank of America, Rainbow and Rent-A-Center. Gil Neuman led The Greysteel Co. team in representing the seller and procuring the buyer.
NEWPORT NEWS, VA. — Blue Sage Ventures has sold the Maritime Square office building, a 135,103-square-foot property in Newport News, for $8.6 million. An affiliate of The Simpson Organization purchased the asset, which is located at 2600 Washington Ave. in downtown Newport News. The asset was 72 percent leased at the time of the sale. Eric Robinson and Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller in the transaction.
ATLANTA — Crescent Communities has begun pre-leasing Crescent Terminus, a 355-unit luxury apartment tower in the mixed-use Terminus development in Buckhead. Crescent Terminus will include rooftop terraces, an outdoor kitchen with a fire pit and grilling stations, zero-edge saltwater pool, pet park, Starbucks Coffee kiosk, fitness center, yoga room and demonstration kitchen. The development is being financed through an equity investment from Crescent Communities and construction financing from JPMorgan Chase & Co. The project team includes architect Lord Aeck Sargent, interior designer Vignette Interiors, landscape architect LandDesign and civil engineer Kimley-Horn. The multifamily property, which is Crescent’s first community in Atlanta, is set to open in June.
TAMPA, FLA. — Hendricks-Berkadia has brokered the $8.9 million sale of Newport Square, a 188-unit apartment community located at 5505 N. Himes Ave. in Tampa. Park Pointe Apartments LLC purchased the property from Monument Real Estate Services LLC. The apartment community was the last part of a three-property portfolio that included Newport Riverside and Newport Pointe. Newport Square was built in 1970 and featues a playground, clubhouse, laundry facility, wading pool and a swimming pool with a sundeck. Jason Stanton, Cole Whitaker and Hal Warren of Hendricks-Berkadia represented Monument in the transaction.
ROANOKE, VA. — The 126-room Hampton Inn & Suites Roanoke Airport has opened at 5033 Valley View Blvd. North N.W. in Roanoke. The hotel is the third Hampton hotel in the Roanoke area and the 59th in Virginia. DSA Roanoke LLC owns the hotel, which is located near Roanoke Airport, Virginia Tech and the Roanoke and Salem civic centers.
WASHINGTON, D.C. — Marcus & Millichap has brokered the $3.6 million sale of Capitol Hill Luxury Residences, a six-unit condominium project located on 8th Street N.E. in Washington, D.C. Each unit in the property is approximately 2,500 square feet. Nathan Pealer and Marty Zupancic of Marcus & Millichap’s Washington, D.C. office represented the seller, a subsidiary of a global financial institution, and the buyer, a fund manager.