COLUMBUS, GA. — Berkeley Capital Advisors has arranged the sale of Cross Country Plaza, a 368,360-square-foot shopping center located in Columbus. The property’s anchors include Publix, Freedom Furniture & Electronics, OfficeMax and T.J. Maxx. Additional tenants include Goodwill, Tuesday Morning, Pet Supermarket, Chuck E. Cheese’s, Suntrust and Denny’s. Rob Carter, Alex Quarrier and David Webb of Berkeley arranged the deal between the two undiclosed parties.
COLUMBIA, S.C. — Colliers International has brokered the sale of a Class A apartment community in Columbia. Constructed in 2008, Preserve at Spears Creek is located at 325 Spears Creek Church Road. It contains 240 units in a mix of one-, two- and three-bedroom apartments. Amenities include a resort-style swimming pool, a fitness center, a computer lounge and a media room. Ron Cameron and Will Mathews of Colliers International’s Atlanta office represented the seller, Spears Creek Partners LLC. The buyer, Nashville, Tenn.-based Carter-Haston, provided in-house representation. The acquisition price was not released.
WASHINGTON, D.C. — UIP General Contracting has completed the $4.5 million renovation of the Takoma Flats apartment community in Washington, D.C. The general contractor created 17 new units, bringing the community’s total to 88 units. Additional work included upgrading building HVAC and electrical systems, renovating all unit interiors, and creating in-ground patios for terrace-level units. UIP completed the work for Rock Creek Property Group and Baybridge Group, which purchased the property in November 2011.
MIAMI BEACH, FLA. — A joint venture between Aria Development Group, Wexford Capital and 13th Floor Investments has purchased a two-story, 7,310-square-foot multifamily property located at 825 Collins Ave. in Miami Beach’s South Beach submarket. The buyers plan to raze the property and construct a 10,000-square-foot flagship retail development. CB Richard Ellis’s Miguel Alcivar, Scott O’Donnell, Dominic Montazemi and Will Pike represented the seller, an entity affiliated with The Federated Companies. The construction timetable was not released.
ROCKY POINT, FLA. — HREC Investment Advisors has brokered the sale of an 88-room Holiday Inn Express and a 70-room Hampton Inn located in the Tampa suburb of Rocky Point. The two hotels are located adjacent to each other. Scott Stephens and Jaimin Patel of HREC represented the undisclosed seller in the deal. The buyer, which was also undisclosed, plans to renovate both properties and retain their brands.
TALLAHASSEE, FLA. — Capital Square Realty Advisors has acquired a 102-unit apartment community in Tallahassee on behalf of an affiliate entity. Constructed in 1988, Ashford Club Apartments is located on 6.5 acres at 2055 Thomasville Road in the city’s Betton Hills submarket. The community features five three-story buildings containing one- and two-bedroom apartments ranging in size from 750 to 1,000 square feet. Amenities include a clubhouse with a full kitchen, a fireplace and a wetbar; a swimming pool with a sundeck; a spa; a fitness center; racquetball courts; a tennis court; a playground; and a dog park. The property was fully leased at the time of closing. The seller’s name and the purchase price were not released.
CHARLOTTE, N.C. — Woodfield Investments has acquired a nearly 3.9-acre site for $4.53 million with plans to construct the 250-unit Mercury NoDa, a transit-oriented apartment community in the Charlotte neighborhood of NoDa. NoDa, short for North Davidson, is Charlotte's historic arts district. The development will be built along the planned extension of the city's light rail system that will extend north of Uptown to the UNC Charlotte university area. Beau McIntosh, Brian Ford and Andrew Klenk of Capstone Apartment Partners represented the seller, a Charlotte-based private developer, in the land transaction.
GLEN ALLEN, VA. — KeyBank has secured $39.7 million in Fannie Mae funds for the refinancing of The Flats at West Broad Village in the Richmond suburb of Glen Allen. the Flats at West Broad Village comprises 339 Class A multifamily units and 170,000 square feet of attached retail space. The KeyBank team of Todd Goulet, Jeff Aycock, Dan Stegemoeller, Dan Silbert and Nate Weyer represented the borrower, San Diego-based Excel Trust. The loan carries a fixed interest rate and a 30-year amortization schedule.
PARKERSBURG, W. VA. — Ackerman & Co. has negotiated the sale of a net-leased retail property in Parkersburg for approximately $2.4 million. CVS/pharmacy occupies the 10,125-square-foot building, which was constructed in 2000. Jason Powell of Ackerman arranged the deal between the seller, a Pennsylvania-based trust, and the buyer, New Jersey-based Arctrust Equities.
HIALEAH, FLA. — Marcus & Millichap has completed the sale of a shopping center located in the Miami suburb of Hialeah for $11.75 million. Constructed in 1948, Essex Shopping Center is situated on 5.23 acres at 435 Hialeah Drive. Major tenants at the 75,592-square-foot center include Payless ShoeSource, GNC, Advance America and Sunshine Citgo. Alex Zylberglait, Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, a Miami-based private investment group. Arthur Porosoff and Jorge Ruiz, also of Marcus & Millichap’s Miami office, represented the buyer, another Miami-based investment group.
