COCONUT CREEK, FLA. — Bluewater Builders Inc. is building a new 105-room Hampton Inn & Suites Hotel at the northeast corner of the Sawgrass Expressway and U.S. 441 in Coconut Creek. Morlin Hospitality Management will open the new hotel at the beginning of the second quarter in 2014. Anderson Architecture designed the new hotel, which will feature Jacuzzis in some suites, a heated pool, outdoor spa, three meeting rooms totaling 1,000 square feet, an exercise facility, refrigerator/microwave in every room, WiFi access, Direct TV and guest laundry facilities.
Southeast
ATLANTA — Cassidy Turley has arranged a 52,976-square-foot lease at Circle 75 Office Park in Atlanta’s Galleria/Cumberland submarket. The tenant, Centene Corp., a healthcare services provider, will relocate to the office space at 1100 Circle 75 Parkway. Centene will occupy floors five, six and 11 for an eight-year term. Kirk Diamond, April Hawkinson and Erin Smith of Cassidy Turley’s Atlanta office, along with Scott Bazoian of the firm’s St. Louis office, represented the tenant in the lease transaction. Matt Spickard and Greg Frankum of Transwestern represented the landlord, SK Commercial. Centene Corp. previously occupied 38,562 square feet of office space in nearby Smyrna, Ga.
RALEIGH, N.C. — Cassidy Turley has arranged $78.7 million in financing for The Forum, an office campus consisting of 635,380 square feet of space in Raleigh. The park, located on a 19-acre lot at the intersection of Strickland and Six Forks roads a mile from Interstate 540, is 96 percent leased. John Campanella and Paul Spellman of Cassidy Turley arranged the loan through an unnamed commercial bank.
RALEIGH, N.C. — Passco Cos. LLC has purchased Wakefield Glen Apartments, a 246-unit, Class A multifamily community located in Raleigh, for $31 million. The community is part of the 2,220-acre Wakefield Plantation master-planned complex. Wakefield Glen is Passco’s second multifamily acquisition this year in the Raleigh-Durham market, according to Passco. The property features a resort-style pool, clubhouse, fitness center, business center, playground and car care center.
MIAMI — Aztec Group Inc. has arranged a $30 million construction loan for the Shoppes at Civica, a two-story, 50,000-square-foot retail and entertainment complex located in Miami’s Health District. The property, located at 1050 N.W. 14th St., will feature international retailers, food and beverage options and entertainment venues. Phase I of the development is slated to open in mid-2015. Demolition of the existing property has begun, and vertical construction of the project will begin in early 2014. Howard Taft and Charles Penan of Aztec arranged the loan through Sabadell United Bank on behalf of the borrower, the Swerdlow Group.
MIAMI — A joint venture between Mayan Properties, Concord Hospitality and Travelers Hotel Group has begun building the Hyatt Place Miami Airport, a 135-room hotel in Miami. The hotel is located at 3549 LeJeune Road near Miami International Airport. The joint venture expects to open the hotel in the fourth quarter of 2014. The $21 million hotel is the first Hyatt Place hotel in Miami to be constructed from the ground up, according to Mayan Properties. Aztec Group, an affiliate of Mayan Properties, recently secured a $15 million construction loan and raised additional equity for the project. Concord Hospitality will manage the hotel once construction is complete. The project team includes general contractor RCI Inc. and architects PFVS Architecture, Israel Bigelman and MoniOmi Design. The new hotel will include 42-inch TVs in the guestrooms, a pool deck, outdoor terrace, fitness center and a market featuring Starbucks Coffee, bars and dining options.
MARIETTA, GA. — HFF has arranged the sale of Shallowford Falls, a Kroger-anchored shopping center located in Marietta’s East Cobb neighborhood. The retail center is located at the intersection of Johnson Ferry and Shallowford roads, about 15 miles northwest of downtown Atlanta. The property’s other tenants include Ace Hardware, Subway and The UPS Store. Jim Hamilton, Richard Reid, Mike Allison and Pete Anastasi of HFF represented the seller in the transaction. Branch Properties LLC was the buyer.
WASHINGTON, D.C. — Cassidy Turley has negotiated 21 coterminous leases for the relocation of the Washington Design Center, a collection of showrooms featuring interior design architectural firms in Washington, D.C. The Washington Design Center will relocate to 120,000 square feet of space at Franklin Court, a 440,874-square-foot office building located at 1099 14 St. N.W. in downtown Washington, near the new CityCenterDC development. Starting in mid-2014, the following showrooms will be featured in the new Washington Design Center: AmericanEye, Arc-Com Fabrics, Century Showrooms, Cowtan & Tout, Doris Leslie Blau, Duralee Fabrics, F. Schumacher & Co., Fabricut, Galleria International, Hines & Co., Holland & Sherry, Holly Hunt, J. Lambeth & Co., Kravet, Michael Cleary, Osborne & Little, Pindler & Pindler, Robert Allen, Romo, Scalamandre and Stark Carpet. The new space will occupy the second, third and fourth floors, with additional retail offered on the ground level. Each showroom will feature a glass storefront and access to the plaza level of Franklin Court for product displays and events. Art Santry, Kurt Richter, Richard Bernstein, Jared Thal, and Steve Braun of Cassidy Turley represented the tenants in the transaction. Richard Tonner, Laurie McMahon and Zeke Dodson, also of Cassidy Turley, represented Franklin Court’s …
SUNRISE, FLA. — HFF has brokered the $16.1 million sale of The Gateway at Seagrass, a 40,136-square-foot retail center in Sunrise. The retail center’s tenant roster includes Starbucks Coffee, Chipotle Mexican Grill, GameStop, Mattress Firm and Subway. South Florida’s only IKEA store shadow anchors the property. Danny Finkle, Luis Castillo and Rob Saracco of HFF represented the seller, Stiles, in the transaction. Karen Reiter, Michael Matluck and Adam Freeman of ICS Realty represented the buyer, Gateway at Sawgrass Investments LLC. Alex D. Sirulnik Esq. was the buyer’s legal counsel.
CHAPEL HILL AND HIGH POINT, N.C. — NorthMarq Capital has arranged two acquisition loans totaling approximately $13.7 million for two apartment communities in North Carolina. The communities include the 144-unit Timberlyne Apartments at 200 Westminster Drive in Chapel Hill and The Crossing at Chester Ridge Apartments, a 152-unit apartment complex at 2122 Crossing Way in High Point. Brett Mason of NorthMarq’s Raleigh office arranged a three-year loan through a bridge lender for the Timberlyne Apartments acquisition. Mason also arranged a 10-year loan for the The Crossing at Chester Ridge purchase. Mason arranged the loan with a 30-year amortization schedule through a Fannie Mae DUS lender.