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.
Southeast
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.
GASTONIA, N.C. — Greysteel has brokered the sale of 3090 E. Franklin Blvd., a Verizon Wireless store in Gastonia double net leased to Verizon Communications Inc. The store is an outparcel to Franklin Square, a shopping center anchored by Walmart and Best Buy. Tennant Properties of NC LLC purchased the store from GDC Gastonia LLC and JC Gastonia LLC for $3.2 million. Peter Snell, Henry Schuldinger and Rich Sillery of Greysteel represented the sellers in the transaction.
BUCKNER, KY. — Monmouth Real Estate Corp. has acquired a 558,600-square-foot industrial building located at 4555 W. Highway 146 in Buckner for $27 million. The property is within the Louisville MSA. Monmouth purchased the facility from Atlanta-based Industrial Development International (IDI), the developer of the industrial building. The property is net-lease for 20 years to Ralcorp Holdings Inc., a division of ConAgra Foods.
CORAL GABLES, FLA. — Marcus & Millichap has brokered the sale of the retail, office and parking portion of 55 Miracle Mile, a mixed-use development in Coral Gables. The portion of the trophy asset sold for approximately $26.8 million. The retail and office portion totals 65,242 square feet and is 90 percent occupied by Ben & Jerry’s, Cibo Wine Bar, HSBC and Tarpon Blend. The parking garage features 400 spaces and is open to the public. Douglas Mandel of Marcus & Millichap’s Fort Lauderdale, Fla., office, along with Benjamin Silver of the firm’s Miami office, represented the seller, CF Miracle Mile LLC, in the transaction. CGI Merchant Group purchased the asset.
ATHENS, GA. — CBRE’s Atlanta Private Capital Group has arranged the sale of the West Washington Building, a 40,818-square-foot mixed-use property in downtown Athens, two blocks north of the University of Georgia campus. The property is LEED Gold certified and features 12,882 square feet of ground-level retail space, 27,936 square feet of penthouse office space and five levels of deck parking in between the office and retail components. The parking portion is owned by the city of Athens was not included in the sale. The 88 percent-leased property sold to a private investor based in the Southeast.
CUMMING, GA. — Prudential Mortgage Capital Co. has provided a $25.3 million Fannie Mae loan for Preston Pointe at Windmere, a 346-unit apartment community in Cumming. The apartment community is in the Alpharetta/Cumming submarket and is located near the Windermere Golf Club. Brian Salyards of Prudential’s Boston office arranged the seven-year loan with a fixed interest rate for Milestone Apartments REIT.