TAMPA AND FORT LAUDERDALE, FLA. — The Tampa and Fort Lauderdale offices of Calkain Cos., a net lease investment brokerage firm, have closed the sale of 40 net-leased properties in Florida for an aggregate sales price of $63 million. The transactions include the sale of 19 Circle Ks for $24 million, nine Applebees restaurants for $23 million, nine Fred's Super Dollar properties for $14 million and three Krystal restaurants for $2.2 million. The brokers from Calkain Cos. involved in the four transactions include Patrick Nutt, Michael Zimmerman, David Sobelman and Emily Cusmano.
DORAL, FLA. — Atlantic | Pacific Development has opened The Atlantic | Doral, a 360-unit luxury multifamily community located at 10500 N.W. 74th St. in Doral. Atlantic | Pacific began construction on the project in April 2012. Each unit will include granite countertops, stainless steel appliances, built-in USB charging stations, full-size washer and dryer, crown molding, vaulted ceilings, porcelain-tiled living areas and carpeted bedrooms. The property's amenities include an upscale clubhouse, resort-style swimming pool with a waterfall, an outdoor kitchen, hot tub, fitness center, movie theater, children's outdoor play area, game room, business center with WiFi and a conference room, lighted tennis courts and a dog park with water stations. Atlantic | Pacific Management will manage the property. Atlantic | Pacific Development and Atlantic | Pacific Management are affiliates of Atlantic | Pacific Cos., which currently owns or manages more than 22,000 residential units and more than 500,000 square feet of commercial space.
SUNRISE, FLA. — Beech Street Capital LLC has arranged a $19.9 million loan to refinance Colonnade Apartments, a 230-unit, garden-style apartment community in Sunrise, a suburb of Fort Lauderdale. The community features a resort-style swimming pool and spa, fitness center, business center, garage parking, lounge, gated access, outdoor gathering/grill areas and a clubhouse. Mitch Sinberg and Michael Wallace of Beech Street's Fort Lauderdale office originated the three-year, floating rate loan through City National Bank with a one-year extension option.
FORT LAUDERDALE, FLA. — Stan Johnson Co., a real estate brokerage and advisory firm specializing in single tenant, net lease investment sales, has opened a new regional office at 6750 N. Andrews Ave. in Fort Lauderdale. Since 2008, Stan Johnson has expanded its footprint by opening regional offices in Atlanta, Chicago, Houston, Los Angeles, Phoenix, New York City and San Francisco. Stan Johnson Co. has hired Brian Buffone and Barry Wolfe as lead brokers. Before joining Stan Johnson, Buffone founded Park Manor Capital Partners and was a partners and chief financial officer of Compson Holding Corp. Wolfe's previous work experience includes stints as the vice president of investments at Marcus & Millichap and as senior director in Marcus & Millichap's national retail group and net leased properties group.
OWINGS MILLS, MD. — Owings Mill-based Chesapeake Realty Partners and Washington, D.C.-based Bernstein Management Corp. have begun developing six new apartment communities totaling 1,250 units in Maryland, Virginia and Washington, D.C. The investment totals $250 million. Construction has commenced on four of the communities. The apartment communities include 2251 Wisconsin Avenue in the Glover Park neighborhood of Washington, D.C.; Paragon at Columbia Gateway in Columbia, Md.; 2 East Wells Street in south Baltimore; The Winthrop in Towson, Md.; 900 Thayer Ave. in downtown Silver Spring, Md.; and Accotink Village Fort Belvior in southeast Fairfax County, Va.
JACKSONVILLE, FLA. AND MURFREESBORO, TENN. — Hines, an international real estate investment firm based in Houston, has acquired two retail centers in Tennessee and Florida through Hines Global REIT. The centers include The Markets at Town Center in Jacksonville and The Avenue Murfreesboro in Murfreesboro. The Markets at Town Center is a nine-building, 317,415-square-foot, upscale retail center that Hines purchased from Pinehill Investment Co. The Markets at Town Center is part of the St. Johns Town Center master-planned development and is 93 percent leased to tenants such as Toys R' Us, Nordstrom Rack, West Marine, REI, Best Buy and Gold Galaxy. Hines has retained Genesis Real Estate Advisers LLC as the property manager. The Avenue Murfreesboro is a 10-building, 747,497-square-foot center that Hines purchased from Faison & Associates and Cousins Properties. The center is 89 percent leased to 93 tenants including Belk, Dick's Sporting Goods, Haverty's, Barnes & Noble, Bed Bath & Beyond and Michael's. David Hocker & Associates will manage the center on behalf of Hines.
PALM HARBOR, FLA. — Colliers International has arranged the $8.4 million sale of the Commons at Twin Lakes, located at 31958 U.S. Highway 19 N. in Palm Harbor. Outback Steakhouse anchors the 53,000-square-foot retail center, which features tenants such as Massimo's Eclectic Fine Dining, North Pinellas Children's Medical Center and Select Medical Rehab. The property is 98 percent leased. Mike Milano and Ron Schultz of Colliers International's Tampa Bay office represented the seller, Commons at Twin Lakes LLC, in the transaction. Jim Michalak of Plaza Advisors Inc. represented the buyer, Realty Financial Corp.
FREDERICK, MD. — NorthMarq Capital has arranged $7 million in first mortgage refinancing for the 105-room Fairfield Inn & Suites in Frederick. The hotel is located at 5220 Westview Drive. Brendan Scanlon and Gary McGlynn of NorthMarq's Washington, D.C., office arranged the loan through a CMBS lender.
BALTIMORE — Ellin & Tucker, a CPA firm, has signed a 31,000-square-foot lease for office space at 400 E. Pratt St. in downtown Baltimore. The company is moving its Baltimore headquarters from 100 S. Charles St. into the 11-story office tower, which is undergoing renovations. The updates include a two-story, 24,000-square-foot addition and updates to the common corridors, lobbies, elevators and restrooms. Construction on the addition is underway. The addition is part of an open-space plan developed by the Downtown Partnership of Baltimore and supported by Baltimore City and the Baltimore Development Corp. to rejuvenate the downtown area and improve the north side of Pratt Street. The design team includes Peter Fillat Architects and construction manager Constantine Commercial Construction Inc. Ellin & Tucker's new office space will span the entire second floor and 7,000 square feet on the third floor, including a balcony above the new addition. The lease includes signage in the lobby and on the exterior southwest side on the second floor. Courtenay Jenkins of Cushman & Wakefield represented Ellin & Tucker and Whitney Nye represented the owner, PDL Pratt Associates LLC.
ATHENS, GA. — Benning Construction Co., a regional general contractor, has broken ground on Epps Bridge Centre, a 68-acre retail and entertainment project located in Oconee County, minutes away from the University of Georgia in Athens. The project is located at the intersection of Paul Broun Parkway and the Oconee Connector. Epps Bridge Centre is the largest retail development begun in Georgia in nearly a decade, according to Benning Construction. The project's developer is Atlanta-based The Bishop Co. Several retailers have agreed to anchor the development, including Dick's Sporting Goods, Marshalls, PetSmart, Old Navy, Gap, Banana Republic, Ulta and Georgia Theatre Co.'s new flagship theater — the 16-screen GTC University 16 Cinemas.