WINCHESTER, VA. — Reston, Va.-based Calkain Cos., a national net lease real estate brokerage firm, has brokered the sale of a McDonald’s ground lease in Winchester. The property is the leading pad site at Rutherford Crossing, a 400,000-square-foot shopping center featuring retail and restaurant space. Lowe’s Home Improvement and Super Target anchor Rutherford Crossing. Rick Fernandez and Betty Friant of Calkain Cos. represented the unlisted developer and seller.
Southeast
SOUTHAVEN, MISS. — S-L Distribution Co. Inc., the distribution arm of Snyder’s-Lance Inc., has signed a 26,757-square-foot lease at Airways Distribution Center in Southaven. The 205,650-square-foot industrial property is in the greater Memphis, Tenn. distribution market. Patrick Burke, Bobby Daush and Jim Mercer of CBRE represented S-L Distribution Co. and CBRE’s Tim Moore represented the landlord, IDI. Snyder’s-Lance Inc. is a manufacturer and marketer of snack foods.
ATLANTA — MidCity Real Estate Partners has acquired an 8.5-acre site at the corner of Georgia 400 and Hammond Drive from Cousins Properties in Atlanta’s Central Perimeter submarket. MidCity plans to develop Hammond 400, a $36 million, seven-building office complex. The site is currently known as Cosmopolitan Center and is the former headquarters for RTM Restaurant Group. MidCity Real Estate Partners will demolish all or portions of the five existing buildings on site. Childress Klein Properties will manage the project and MidCity Realty Corp. will handle sales and leasing.
BRENTWOOD, TENN. — H.G. Hill Realty Co. and GBT Realty Corp. have unveiled plans for The Streets of Brentwood, a mixed-use development totaling 970,212 square feet of residential, office, retail, restaurant, theater and hotel space in Brentwood. The joint venture filed a request for a zoning change to the City Brentwood for the 16.98-acre development, which includes the former Tennessee Baptist Convention property at 5001 Maryland Way.
MILLEDGEVILLE, GA. — Skanska USA has broken ground on Georgia Military College’s new 56,250-square-foot Health and Wellness Center in Milledgeville. The fitness center will include 9,000 square feet of weight and cardio training spaces and an elevated walking and running track. Skanska USA’s building business unit is managing the construction of the Health and Wellness Center.
STAUNTON AND TOANO, VA. — Boston Capital has invested in the rehabilitation of two seniors housing communities including the 98-unit Gypsy Hill House Apartments in Staunton and the 22-unit Burnt Ordinary Village Apartments in Toano. The developments will be rehabilitated with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Boston Capital has invested in approximately 13,000 affordable housing units in Virginia.
ATLANTA — Situs, a provider of global commercial real estate services and consulting solutions, has plans to double the size of its Atlanta office. Situs currently employs 15 professionals in commercial real estate loan underwriting, bank loan evaluation and forensic accounting. The firm plans to double its Atlanta staff size by the first quarter of 2013, which it has also recently done in New York and Houston. Situs recently announced the acquisition of Deutsche Bank’s European commercial mortgage servicing business, making Situs one of the largest third-party servicers in Europe.
WASHINGTON, D.C. — MassCourt East End, a 371-unit luxury multifamily community in Washington, D.C.’s Mount Vernon Triangle neighborhood, has received $92.6 million in financing. The property at 300 Massachusetts Ave. is 96 percent leased and features studio, one- and two-bedroom units. Kevin MacKenzie and Cary Abod of HFF secured the financing on behalf of the borrower, TIAA-CREF, through M&T Realty Capital Corp. and Fannie Mae. TIAA-CREF used the financing to acquire MassCourt East End.
ATLANTA — The 212-unit Colonial Homes, a multifamily community built in 1947 in Atlanta’s Buckhead submarket, has been sold by Pope & Land to Pollack Shores Real Estate Group for $15 million. Bill Shippen and John Weber of Atlanta-based ARA and Rich Arroll of Major & Arroll LLC represented Pope & Land. Pollack Shores Real Estate Group will tear down and redevelop a newly zoned portion of the Colonial Homes site into a four- or five-story apartment building.
WASHINGTON, D.C. — Urban Investment Partners (UIP) has acquired the 21-unit The New Hampshire House, an apartment community, for $2.1 million in Washington, D.C. UIP plans to reposition the property, which is located on top of the Georgia Avenue/ Petworth Metro Station at the corner of New Hampshire Avenue and Quincy Street. Marty Zupancic of Marcus & Millichap’s Washington, D.C. office represented the seller, a private investor, and secured UIP as the buyer.