Southeast

MIAMI BEACH, FLA. — A joint venture between Aria Development Group, Wexford Capital and 13th Floor Investments has purchased a two-story, 7,310-square-foot multifamily property located at 825 Collins Ave. in Miami Beach’s South Beach submarket. The buyers plan to raze the property and construct a 10,000-square-foot flagship retail development. CB Richard Ellis’s Miguel Alcivar, Scott O’Donnell, Dominic Montazemi and Will Pike represented the seller, an entity affiliated with The Federated Companies. The construction timetable was not released.

PARKERSBURG, W. VA. — Ackerman & Co. has negotiated the sale of a net-leased retail property in Parkersburg for approximately $2.4 million. CVS/pharmacy occupies the 10,125-square-foot building, which was constructed in 2000. Jason Powell of Ackerman arranged the deal between the seller, a Pennsylvania-based trust, and the buyer, New Jersey-based Arctrust Equities.

MARIETTA, GA. — Hanley Investment Group Real Estate Advisors has completed the sale of a metro Atlanta shopping center for $7.79 million. Barrett Creek Plaza is located at 125 Ernest Barrett Parkway in Marietta. Constructed in 2003, the property contains 28,481 square feet of space that was 89 percent occupied at the time of the sale. Tenants include Axiom Staffing, Buffalo Wild Wings Grill & Bar, Chase Bank, Cheeseburger Bobby’s, Moe’s Southwest Grill and T-Mobile. The Hanley team of Kevin Fryman, William Asher and Edward Hanley represented the buyer, a Miami Beach-based private investor, as well as the seller, Los Angeles-based Westwood Financial. The property traded at a 7.78 percent cap rate.

DURHAM, N.C. — Berkeley Capital Advisors has brokered the sale of Hope Valley Square, a 40,383-square-foot shopping center located in Durham. The U.S. Postal Service anchors the property. The Berkeley team of Rob Carter, Alex Quarrier and David Webb represented the seller, Hawthorne Shannon Plaza. DNA Partners purchased the property for an undisclosed amount.