Southeast

JOHNSON STARTS WORK ON FLORIDA MOB PROPERTY

by admin April 15, 2013

JACKSONVILLE — Johnson Development has started construction on a 60,000-square-foot medical office building in Jacksonville. The property will be located next to St. Vincent's Medical Center Clay County hospital, a new 64-bed hospital scheduled to open in 2013. The medical office building will house facilities for cardiology, wound care, orthopedics, rehabilitation, neurology and include a sleep center. Johnson Development will own the property with a group of area physicians. The medical office building is slated for completion in October.

April 15, 2013

Southeast

CONSTRUCTION UNDERWAY ON 831-ACRE EMBREY MILL

by admin April 15, 2013

NORTH STAFFORD, VA. — Construction is underway on Embrey Mill, an 831-acre, master-planned community in North Stafford, located 40 miles south of Washington, D.C. The property is slated to include 1,827 new homes, 285 acres of open space, public parks, civic and recreation centers and 10 miles of trails. A joint venture between North American Sekisui House and Sekisui House, Japan's largest homebuilder, owns the development. Newland Communities is the project's master developer. Roads for the first phase are already complete, and work has started on Embrey House, the community gathering place for the first neighborhood. It will feature a cafe with outdoor patio, concierge service, swimming pool and sports court. The project is scheduled to open in mid-summer 2013.

April 15, 2013

Multifamily Southeast

JLL HELPS CLOSE $608M IN APT. SALES IN D.C. AREA

by admin April 12, 2013

WASHINGTON, D.C. — Jones Lang LaSalle's capital markets team has closed on the sale of four multifamily properties in the Washington, D.C., area totaling $608 million. In the largest deal, Dweck Properties purchased Archstone Crystal Towers, two 912-unit apartment towers in Arlington, Va., from Equity Residential for $322.2 million. The deal broke the record for the largest sale of a multifamily property in the region. Archstone Crystal Towers was completed in 1968 and underwent a comprehensive renovation in 2002. Al Cissel and Scott Melnick of Jones Lang LaSalle represented the seller in the transaction. WAFRA Investment Advisory Group and Stella Advisors bought the Avalon at Decoverly, a 564-unit apartment community in Rockville, Md., from Avalonbay Communities Inc. for $135 million. Amenities at the Class A property include two outdoor swimming pools, tennis courts and a dog park. Cissel, Melnick and Christine Epenshade of Jones Lang LaSalle represented the seller. JBG Cos. acquired Falkland Chase, a 450-unit garden apartment community in Silver Spring, Md., from Home Properties for $98 million. The community features 57 two- and three-story brick buildings. Cissel and Melnick represented the seller. In the final deal, a joint venture between Laramar and Lubert-Adler purchased Woodvale Apartments, a 24-building …

April 12, 2013

Office Southeast

GRIFFIN CAPITAL BUYS HEALTHSPRING CAMPUS FOR $36.4M

by admin April 12, 2013

NASHVILLE — Griffin Capital Corp. has purchased the 21-acre HealthSpring MetroCenter campus in Nashville for $36.4 million. The two-building, 170,515-square-foot campus is located at 500 and 530 Great Circle Road. The u-shaped twin buildings are part of the master-planned MetroCenter business park. The property is fully leased by HealthSpring, a subsidiary of insurer CIGNA. The campus houses the company's shared services such as marketing, sales and customer service. CBRE represented the seller, Nashville-based Southeast Venture, in the transaction. Griffin plans to retain Southeast Venture as the property manager.

April 12, 2013

Office Southeast

RALEIGH SKYLINE TO ADD 11-STORY OFFICE BUILDING

by admin April 12, 2013

RALEIGH, N.C. — The downtown Raleigh skyline will be adding a new 11-story office building by 2014, with project developers expecting to break ground this fall. According to local reports, the Charter Square project has been stalled since the credit markets froze five years ago. But Raleigh-based developer Dominion Realty Advisors announced it is joining the development team and will help commit equity to the project. Dominion will help lead construction of the first of two towers planned for the site. The new $50 million Charter Square building, located across the street from the Marriott City Center Hotel, will encompass 225,000 square feet. The company has secured four tenants who will occupy about 35,000 square feet. JDavis Architects will serve as the project architect and CBRE is the property leasing agent. A general contractor will be selected this summer.

April 12, 2013

Office Southeast

EXXON MOBIL TO SELL 117-ACRE FAIRFAX CAMPUS

by admin April 12, 2013

FAIRFAX, VA. — Exxon Mobil Corp. has selected Cassidy Turley to market its 117-acre campus in Fairfax, as it prepares to relocate its local operations to a consolidated site in The Woodlands, a suburb of Houston. The property, located at 3225 Gallows Road, includes five buildings with 1.3 million square feet of office space. The site also includes 1 million square feet of parking structures and 92 acres of undeveloped land.

April 12, 2013

Office Southeast

BALLUFF BREAKS GROUND ON NEW U.S. HEADQUARTERS IN KENTUCKY

by admin April 12, 2013

INDEPENDENCE, KY. — Balluff Inc., a German automation supplier, is expanding its U.S. headquarters in Independence, located in northern Kentucky. The expansion will add 24 full-time jobs and the company will invest $6 million in the project. The U.S. headquarters now employs more than 150 people and has been based in Independence since 1983. The company expanded twice before, in 1994 and 2001. The company's new 48,000-square-foot building is scheduled for completion in March 2014. The Kentucky Economic Development Finance Authority preliminarily approved tax incentives up to $300,000 for the company through the Kentucky Business Investment program.

April 12, 2013

Office Southeast

EXXON MOBIL TO SELL 117-ACRE FAIRFAX CAMPUS

by admin April 12, 2013

April 12, 2013

Mixed-Use Southeast

CRESCENT BREAKS GROUND ON 63-ACRE ALEXANDER VILLAGE

by admin April 11, 2013

CHARLOTTE, N.C. — Crescent Communities has broken ground on the $33.6 million Alexander Village, a 63-acre mixed-use development in Charlotte's University Research Park. Phase I will include the construction of Crescent Alexander Village, a 320-unit apartment community on Senator Royall Drive, just south of Mallard Creek Church Road. Plans for Alexander Village also include a hotel, up to 75,000 square feet of retail and 250,000 square feet of office. Crescent expects to begin preleasing the apartments this fall and have the first units available for occupancy in early 2014.

April 11, 2013

Healthcare Southeast

FREESTANDING EMERGENCY ROOM TRADES FOR $3M IN JACKSONVILLE SUBURB

by admin April 11, 2013

ST. JOHNS, FLA. — St. Johns Medical Ventures LLC has acquired 2 Doctors Village Drive in St. Johns, a 10,944-square-foot freestanding emergency room built in 2012, for $3 million. Giles Stevens of Lee & Associates represented the buyer in the transaction. Josh Pardue of Stan Johnson Co. represented the seller, Jacksonville Medical Center Development LLC.

April 11, 2013

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