STERLING, VA. — Orbital Sciences Campus, a three-building, 337,228-square-foot Class A office complex, has traded for $85.6 million in Sterling. A fund advised by Prudential Real Estate Investors (PREI) sold it to Select Income REIT free and clear of existing debt. The property is situated at the intersection of Warp Drive and Route 28 North approximately 29 miles northwest of Washington, D.C. The property, which was built in 2001, is 100 percent leased on a long-term basis to Orbital Sciences Corp. and serves as the company’s global headquarters. Amenities include an outdoor patio, conference facilities, cafeteria, fitness center, basketball court and multiple running and biking trails. Stephen Conley, Jim Meisel, Dek Potts, Andrew Weir and Matt Nicholson of HFF represented the seller.
Southeast
DURHAM, N.C. — A joint venture between Charlotte, N.C.-based Grubb Properties and Philadelphia-based Rubenstein Partners has acquired a two-building, 193,000-square-foot office portfolio in the Imperial Center office park in Durham. The two buildings are located adjacent to the Research Triangle Park at 1015 and 1035 Swabia Court, and have been occupied by a corporate tenant since construction in 1987 and 1988. Grubb Properties will oversee property management and construction management for the buildings and will lease the 1015 Swabia Court office building. The joint venture will partner locally with Cassidy Turley’s lab and life science team to market the 1035 Swabia Court office building, which includes a mix of office and laboratory space.
WASHINGTON, D.C. — The Aventine of Alexandria, a 15-story, 574-unit multifamily community at 2701 Park Center Dr. in Washington, D.C., has sold. The building was originally built in 1973 and has been recently renovated. It features units averaging 1,027 square feet and includes a resort-style pool, fitness center, media room, business center, dog park and concierge service. David Nachison, Alan Davis and Brenden Flood of HFF represented the seller, a separate account client advised by Invesco Real Estate. Partners Group, a global private markets investment management firm, and an affiliate of Bainbridge Cos. LLC purchased the multifamily property.
DURHAM, N.C. — Dougherty Mortgage LLC has closed a $17.25 million loan for the acquisition of Arbor Walk, a 115-unit independent living and assisted living property in Durham. The seven-year term loan was arranged through Dougherty Mortgage’s Maryland office for CSH Walk LLC.
WASHINGTON, D.C. — Washington, D.C.-based Greysteel, a real estate investment services firm, has brokered the $1.6 million sale of 1702 16th St. N.W. in Washington, D.C. The eight-unit boutique apartment building in Washington, D.C.’s Dupont Circle sold to an unlisted cash purchaser. Ari Firoozabadi, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Kerner Development LLC.
MIAMI BEACH, FLA. — A two-story, 22,857-square-foot Walgreens on Collins Avenue in Miami Beach’s Art Deco District has sold for $30 million, representing the highest price attained by a net-leased asset in Miami Beach in 2012. Trans World Entertainment Corp. sold the drugstore property to an international investor. Sean Shahar Ziv of Marcus & Millichap’s San Diego office represented Trans World Entertainment Corp.
COLUMBIA, S.C. — The 303,156-square-foot Bank of America Plaza has sold for $26 million in Columbia. Locally based AgFirst Farm Credit Bank purchased the 17-story, Class A office building that is 69 percent leased. The credit association plans to relocate into the remaining space by the end of 2013. Kevin Markwordt, Jon Kleinberg and Julian Brown of Transwestern’s Southeast Investment Services Group represented the property’s receiver, Lincoln Harris, and David Lockwood and John Folsom of Colliers International represented AgFirst Farm Credit Bank.
BALL GROUND, GA. — Transwestern’s Southeast Investment Services Group has completed the $16.1 million sale of 1000 Evenflo Dr., a 364,347-square-foot manufacturing warehouse in Ball Ground. Chicago-based Brennan Investment Group LLC purchased the the Class A facility, which is fully leased to Meyn America and SMB Machinery Systems. The property is a part of the I-575 Airport Industrial Park, a 122-acre master-planned development, and has immediate access to I-575. It is located approximately 35 miles north of Atlanta’s Hartsfield-Jackson International Airport. Kevin Markwordt and Julian Brown of Transwestern represented the seller, Sunshine Associates LLC.
FAYETTEVILLE, ARK. — CNL Lifestyle Properties Inc., a real estate investment trust, has acquired Fayetteville’s Culpepper Place for $14 million from Foster Hospitality Group. The assisted living community has 67 units and opened in June 2011. It is 100 percent occupied. This is the second Arkansas property CNL Lifestyle Properties has purchased from Foster Hospitality Group.
RIVIERA BEACH, FLA. — A 45,973-square-foot Winn-Dixie has traded for $7.3 million at 3700 Broadway in Riviera Beach. Douglas Mandel and Howard Bregman of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, a Miami Beach, Fla.-based limited liability company. Gabriel Britti of Marcus & Millichap’s Miami office represented the buyer, a limited liability company from Miami.