LAUREL, MD. — Sperry Van Ness | Small Shah Commercial Advisors has brokered the sale of a Hampton Inn hotel, located on Braygreen Road in Laurel. The buyer, Neema Laurel LP, purchased the hotel for approximately $6.4 million. Shailesh Shah of Sperry Van Ness | Small Shah Commercial Advisors represented the seller, Mt. Laurel Hospitality, in the transaction.
TAMPA, FLA. — Industrial Property Group has arranged the $5 million sale of 41 Industrial Center, three office/warehouse buildings totaling 196,636 square feet at 5100 Causeway Blvd. in Tampa. Jeff Lamm and Tom Gibbs of Industrial Property Group represented the seller, 41 Industrial Center LP, in the transaction.
NEW PORT RICHEY, FLA. — Compass Self Storage LLC, a member of Cleveland-based Amsdell Cos., has purchased a self storage property, located at 4413 Madison St. in New Port Richey. The 65,000-square-foot property is the company's third acquisition in the greater Tampa Bay area and seventh self storage acquisition this year. Compass Self Storage will operate the property, which includes drive up access, climate controlled units, outdoor storage, outdoor parking and a full line of moving supplies.
ROANOKE, VA. — Cronheim Mortgage has arranged $6.6 million in acquisition financing for a new 103,402-square-foot distribution facility, located in the Roanoke Centre for Industry & Technology (RCIT) in Roanoke. The RCIT is a business park that houses tenants such as Orvis Inc., Elizabeth Arden, BellSouth and Advance Stores Co. Dev Morris and Andrew Stewart of Cronheim arranged the 13-year loan through Aviva Life and Annuity Co. at a fixed 3.8 percent interest rate. Morris and Stewart arranged the loan on behalf of the borrower, Monmouth Real Estate Investment Corp.
GREENVILLE, N.C. — The Hampshire Cos., a private real estate investment firm based in New Jersey, has acquired Lynncroft Shopping Center, a 180,000-square-foot power center located at 3150 Evans St. in Greenville. The center's tenant roster includes Lowes Foods, Best Buy, Bed Bath & Beyond, Ross Dress for Less, Ulta Beauty, David's Bridal and Omega Sports. The company purchased the center on behalf of the HUH US Real Estate Income Fund, which targets stabilized assets in the eastern U.S. The Hampshire Cos. purchased the center in a joint venture with MCB Real Estate and ARGUS Development Group, the original developers of the center. ARGUS continues to manage and operate the center. Approximately 2,500 square feet is available for lease at the property.
PLANTATION, FLA. — Brookwood Financial Partners LLC, a Massachusetts-based real estate investment and asset management firm, has acquired Lakeside Office Center in Plantation. The Class A, 134,443-square-foot office building was constructed in 1986 and renovated in 2006. The property is located eight miles from downtown Fort Lauderdale and has 33,000 square feet available for lease. Brookwood plans to renovate the lobby, building entrance and common areas. CBRE represented the seller in the transaction, and Brookwood was self-represented.
STOCKBRIDGE, GA. — Franklin Street Real Estate Services has arranged the $1.9 million sale of Plaza at Eagles Landing, an 18,000-square-foot retail strip center located at 1058 Eagles Landing Parkway in Stockbridge. The property's tenant roster includes Starbucks, Randstad, Preston's Salon, Minky Bling and Sarah's Country Kitchen. Mac McCall of Franklin Street represented the seller, an Atlanta-based investment firm, in the transaction. The buyer is a private investor based in Spain. The buyer plans to continue to operate the center with retail and office tenants, while also attempting to lease up the remaining vacancies.
ATLANTA — Lincoln Southeast LLC, a subsidiary of Dallas-based Lincoln Property Co. Southeast, has been named the court-appointed receiver for Buckhead West, a 110,000-square-foot office complex located near the intersection of Interstate 75 and Howell Mill Road in Atlanta. Buckhead West is suited to tech tenants and creative firms, and has recently become home for movie and television production companies. The complex is within walking distance of the Howell Mill Village retail center adjacent to Post's Collier Hill apartments. The property has already received interest from various groups for either loft office, medical office and multifamily potential.
ORLANDO, FLA. — CBRE Capital Markets has arranged acquisition financing for Northgate Lakes, a 710-bed student housing community located adjacent to the University of Central Florida in Orlando. Steve Roth and Ben Roelke of CBRE Capital Markets arranged the loan through a life insurance company on behalf of the borrower, Campus 150 Venture LLC, a joint venture between principals of Campus Advantage and a state pension fund. CBRE also arranged acquisition financing for VUE on University in Fort Worth, Texas, and refinancing for Zaragon Place in Ann Arbor, Mich. The three loans totaled more than $64.6 million.
CHARLOTTE AND CARY, N.C. — Peak Capital Partners, a Utah-based multifamily investment company, has purchased two multifamily communities in North Carolina in two separate transactions. The firm purchased The Links at Citiside, a 274-unit complex located at 5005 Community Circle in Charlotte, and Oxford Square, a 184-unit property located at 1000 Village Greenway in Cary. Peak Capital Partners has also made capital improvements to each community, including new landscaping, refinished parking lots, exterior improvements and renovated clubhouses. The company owns and manages more than 6,000 multifamily units in eight states.