HOMESTEAD, FLA. — The Miami office of Grandbridge Real Estate Capital has originated $14.38 million in permanent financing for Oasis Plaza Shopping Center, a 68,000-square-foot retail property located in the Miami suburb of Homestead. The non-recourse loan carries a 10-year term and a 30-year amortization schedule. Grandbridge’s Philip Carroll and Michael Balan arranged the deal on behalf of the undisclosed borrower through a life insurance company.
MIAMI BEACH, FLA. — CB Richard Ellis (CBRE) has completed the sale of a 54-unit multifamily property located in Miami Beach. AnNell Apartments is locaated 700 Euclid Ave. in the South Beach submarket. The CBRE team of Calum Weaver and Richard Tarquinio represented the seller, Investors Management Group, a Los Angeles-based private equity firm. The buyer was Bar Invest Florida, an all-cash foreign buyer. The acquisition price was not released.
FAIRFAX, VA. — Washington, D.C.-based Greysteel has negotiated the sale of Oak Knolls Realty Corp. for $10 million. Oak Knolls Realty Corp. is a Florida S corporation that controls a single asset, the Oak Knolls apartment community, which is located at 3979 Oak St. in Fairfax. The community currently contains 110 units, but the City of Fairfax recently released a comprehensive plan that encourages the rezoning of the property for high-density residential development. The Greysteel team of Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown represented the buyer, Capital Investment Advisors.
JACKSONVILLE, FLA. — Newmark Grubb Phoenix Realty Group (NGP) has brokered the sale of a Jacksonville flex industrial building for $5.2 million. Situated near the interchange of Interstate 95 and Baymeadows Road at 8813 Western Way, the property contains 168,125 square feet of office and warehouse space. Bobby Gatling and Bryan Bartlett of NGP represented the seller, COFE Properties Fund 1 – Western Way LLC. Bruce Jackson of CB Richard Ellis represented the undisclosed buyer.
DURHAM, N.C. — Berkeley Capital Advisors has arranged the sale of a McDonald’s absolute net ground lease for $1.37 million. The property, which is located in Durham, totals approximately 1.7 acres. McDonald’s has a new 20-year lease in place. Berkeley’s Steve Horvath and Jay Levell represented the undisclosed seller. The buyer was a private trust.
MT. PLEASANT, S.C. — Blair Belk and Trey Lucy, formerly vice presidents with Lincoln Harris, have formed a new commercial real estate firm. Belk | Lucy will provide a full range of commercial real estate services to South Carolina’s Low Country. The new firm will be based out of the Charleston suburb of Mt. Pleasant. Since 2007, Belk and Lucy have completed over 1 million square feet in commercial real estate transaction and averaged more than 40 transactions per year.
MCLEAN, VA. — LCOR has received county approval for the development of The Commons, a transit-oriented community to be constructed in McLean. Phase I will include the property’s north parcel, which comprises 21 acres located at the corner of Anderson Road and Chain Bridge Road. LCOR received approval to develop up to 2,500 residential units, approximately 50,000 square feet of street-level retail space and green space. LCOR anticipates beginning construction for Phase I in the second half of 2014.
GREENVILLE, S.C. — A joint venture between Charleston, S.C.-based Hudson Capital Investments and Phoenix-based RW Partners has purchased a Class A apartment community in Greenville from Carroll Companies. Candleton Village is located at 741 Woodruff Road near the intersection of Interstates 85 and 385. Constructed in 2006, the property contains one- through three-bedroom units averaging 986 square feet in size. Jason Nettles and Megan Thompson of Holliday Fenoglio Fowler represented Carroll Companies in the transaction.
TIFTON, GA. — Jones Lang LaSalle (JLL) has brokered the sale of Tifton Corners, a 186,629-square-foot shopping center located at 21 Virginia Ave. South in Tifton. Tenants of the center include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. Occupancy was 84 percent at the time of closing. JLL’s Margaret Caldwell and Kris Cooper represented the seller, Atlanta-based RCG Ventures. The buyer was a Georgia-based limited liability company. The acquisition price was not released.
NORTH EAST, MD. — Cushman & Wakefield has completed the sale of a 345,600-square-foot industrial property in North East. The building is located on 36 acres near Interstate 95 at 4 Center Drive. It is fully leased to the General Services Administration and Herr Foods. Cushman & Wakefield’s Christopher Abramson, Brian Kruger, Nicholas Signor and Jonathon Chalkey represented the undisclosed seller. The buyer is SK Realty Management.
