WILMINGTON, N.C. — A 50,000-square-foot Dick’s Sporting Goods and 24,000-square-foot Marshalls have signed on to anchor the 203,000-square-foot Mayfaire Community Center in Wilmington. Mayfaire Community Center is part of Mayfaire, a 400-acre, master-planned community. The two new anchor tenants are part of the shopping center’s Phase II expansion, which is expected to open in November 2014. A third anchor store is expected to be announced in the near future. Greenville, N.C.-based BrodyCo. Inc. and Wilmington-based Zimmer Development Co. are co-developers of Mayfaire.
Southeast
ATLANTA — Lincoln Property Co. Southeast, along with Cushman & Wakefield, has arranged the new lease of 28,299 square feet of office space at 55 Allen Plaza in Atlanta. The 350,000-square-foot office tower is located in downtown Atlanta. Tony Bartlett of Lincoln and Andy Sumlin of Cushman & Wakefield’s Atlanta office represented the landlord in the lease transaction. Carla Williams and Jeff Samaras of Cushman & Wakefield represented the tenant, Connecture Inc., an healthcare information systems firm. The company signed an 11-year lease to occupy the entire fourth floor of the building, which is now 93 percent leased.
LAKE WORTH, FLA. — Housing Trust Group, a Miami-based real estate developer and manager, has completed construction on Pine Run Villas, a $13 million, 63-unit affordable housing community in Lake Worth. The townhome-style community is located at 4726 Big Ben Lane. Pine Run Villas include 47 three-bedroom/two-bath units and 16 four-bedroom/two-bath units with attached garages. The community’s amenity package features a large clubhouse, pool, WiFi access, computer lab, a half-basketball court and a covered school bus stop. Rents range from $843 to $925 for the three-bedroom units and $930 to $1,034 for the four-bedroom units. The development is 100 percent occupied, with half of the units reserved for households earning no more than 50 percent of area median income.
WINDSOR MILL, MD. — A joint venture between Morgan Properties and Core Properties LLC has acquired the Windsor Mill Portfolio, a 500-unit multifamily portfolio consisting of three communities in Windsor Mill, located 12 miles northwest of Baltimore. The communities are located within a one-mile radius of each other outside the Baltimore Beltway. The portfolio includes two garden-style communities developed in 1965 and 1972, as well as a high-rise apartment building built in 1969. Jones Lang LaSalle represented the seller in the transaction.
VIRGINIA BEACH, VA. — ARA has arranged the sale of Greenwich Village, a 224-unit, Class A apartment community located in Virginia Beach. The community features a new clubhouse, resort-style swimming pool with a fountain, outdoor shaded lounges, covered grilling stations, picnic area, firepit, a planned dog park, new fitness center and a business center. Mike Marshall, Drew White and Wink Ewing of ARA represented the sellers, Virginia Beach-based Harmony Investments Inc. and Richmond, Va.-based Spy Rock Development, in the transaction.
PASCAGOULA, MISS. — Jones Lang LaSalle has brokered the sale of Shipyard Plaza, a 66,857-square-foot shopping center in Pascagoula. Big Lots anchors the center and Walmart Supercenter shadow anchors the property. Atlanta-based RCG Ventures purchased the shopping center from Equity One. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle represented the seller in the transaction.
HYATTSVILLE, MD. — Marcus & Millichap has arranged the $7.6 million sale of Edmonton Station, a 119-unit apartment community located in Hyattsville, about seven miles northeast of Washington, D.C. The apartment community is located at 5360 Quincy St. Edmonton Station was 97 percent occupied at the time of sale. David Weber, Daniel Cunningham, Tal Frydman and Derek Gibbs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Weber also secured and represented the buyer, a limited liability company.
RALEIGH, N.C. — William Peace University, a private university in Raleigh, has purchased Seaboard Station, a 92,000-square-foot retail property in downtown Raleigh. The university bought the asset for approximately $20.8 million. Seaboard Station’s tenant roster includes 18 Seaboard, Galatea Boutique, J. Betski’s, Logan Trading Co., Marigold Parlour, 02 Fitness Club, Peace China, Phydeaux, Seaboard Ace Hardware, Seaboard Café, Seaboard Wine Warehouse, Studio 123 and Tyler’s Taproom. TradeMark Properties represented the school in the transaction.
TAMPA, FLA. — CBRE has arranged the sale of a Sweetbay Supermarket-anchored shopping center at 2525 N. Dale Mabry Highway in Tampa. Forge Real Estate Partners III LP, a private equity fund jointly managed by Forge Capital Partners and The Sembler Co., purchased the 56,097-square-foot asset for approximately $11.6 million. The shopping center is fully occupied to tenants including Sweetbay, Moe’s Southwest Grill, Scottrade, GameStop and Jimmy John’s. Casey Rosen and Dennis Carson of CBRE represented the seller, Optimus One LLC, in the transaction.
BOWIE, MD. — Phillips Edison-ARC Shopping Center REIT Inc. has purchased Collington Plaza, a 122,000-square-foot, grocery-anchored shopping center located in Bowie. Giant Foods anchors the shopping center, whose other tenants include Advance Auto Parts, NASA Federal Credit Union, America’s Best Eyewear, 7-Eleven, GNC, Hair Cuttery and Sally Beauty. Michael Gorsage of HR Retail brokered the sale between Phillips Edison-ARC and the seller, Next Collington Plaza LLC, an affiliate of Next Realty.