DURHAM, N.C. — The four-building, 72,944-square-foot Miami North Office Park, located in the Research Triangle Park at the intersection of I-40 and Miami Boulevard in Durham, has sold. The office property was built in 1997 and 1999 on a 6.43-acre site. Ben Kilgore of CBRE/Raleigh represented the unlisted seller. Raleigh, N.C.-based TME Investments purchased Miami North Office Park.
Southeast
MCLEAN, VA. — Lemont, Ill.-based Englewood Construction’s retail group has completed the nation’s first Spanx store in the Washington, D.C., area. Spanx, a popular women’s undergarment provider, opened its first retail location in the country at Tyson’s Corner Center in McLean, which is the largest shopping mall in Virginia and in the Baltimore and Washington, D.C., area. Spanx founder Sara Blakely was recently named one of the world’s youngest self-made billionaires by Forbes Magazine.
WASHINGTON, D.C. — CBRE has been selected to lease 820 First Street, a 298,533-square-foot Class A office building located across from Union Station in Washington, D.C.’s Union Center Plaza. The 11-story building includes CNN, Accenture, and Center on Budget and Policy Priorities as tenants in D.C.’s Capitol Hill North submarket. Affiliates of Norfolk, Va.-based Harbor Group International LLC purchased 820 First Street in October along with investment partners including affiliates of Capstone Equities and Image Capital. The building was built in 1990 and has approximately 53,552 square feet available for lease.
DAHLONEGA, GA. — Ambling University Development Group and North Georgia College and State University (NGCSU) have completed a four-year, $110 million transformation of the Dahlonega campus. It culminated in the renovation of Gaillard Hall, a 166-bed historic cadet residence hall. In addition to Gaillard Hall, other projects completed include the addition of 1,214 beds, a 1,080-space parking deck, a new multi-use building that houses the university bookstore, retail and health center as well as a 1,000-seat dining hall. Funding for the $110 million capital improvement initiative was provided through privately financed tax-exempt municipal bonds.
BRANDENTON, FLA. — The 678,377-square-foot DeSoto Square Mall, located on U.S. Highway 41 and Cortez Road in Bradenton, has sold. An affiliate of New York-based Mason Asset Management Inc., a wholly owned subsidiary of Simon Property Group, acquired the regional mall. It opened in 1973 and was renovated in 1996. Macy’s and JCPenney anchor the retail property, which also includes an empty Dillard’s box. Peter Stevens, Dave Conn, Casey Rosen and Nik Kozy of CBRE represented the unlisted seller.
FAYETTEVILLE, N.C. — Wilton, Conn.-based Westport Capital Partners has purchased the 250,000-square-foot Marketfair Mall at the intersection of Skibo and Morganton roads in Fayetteville. A 15-screen, 60,000-square-foot Carmike Cinemas anchors the retail property, which also includes a 66,000-square-foot Gander Mountain Outdoor World and 35,000-square-foot HH Gregg. Joe Montgomery of Colliers International’s Atlanta office represented the seller.
CHARLOTTE, N.C., AND NEWNAN, GA. — Two Advance Auto Parts stores in North Carolina and Georgia have sold to a California-based buyer to complete a 1031 exchange. The automotive retail property in Charlotte sold for $1.78 million and the one in Newnan sold for $1.64 million. Steve Horvath and Jay Levell of Berkeley Capital Advisors represented the unlisted seller.
TAMPA, FLA. — An 8,400-square-foot former dialysis center at 1602 N. 21st St. in Tampa has traded. Moe Derbala of Marcus & Millichap’s Tampa office represented the seller, a Tampa-based private investor, and also secured the buyer. The former dialysis center was built in 1980 and consists of three suites. Suite 1 is 5,225 square feet and has 18 patient bed treatment areas. Suite 2 has 1,800 square feet of open area with a bathroom. Finally, Suite 3 contains three offices.
MIAMI — A 1.29-acre mixed-use development site at intersection of Coral Way and South Miami Avenue in Miami has traded for $18.5 million. South Miami Ave LLC sold the site, which is approved for the development of a 556-unit residential tower, 15,049 square feet of retail space and 38,357 square feet of office space, to Related Group. The site is close to the Mary Brickell Village and Brickell Citi Centre projects as well as I-95 in Miami’s Brickell Financial District. Manny de Zarraga and Jaret Turkell of HFF represented South Miami Ave LLC.
HUDSON, FLA. — The 70,770-square-foot Hays Road Town Center, located at the northwest corner of Hays Road and State Road 52 in Hudson, has sold for $13 million. Sonny Molloy of Marcus & Millichap’s Atlanta represented the seller, Haysvest LLC, and the buyer was Cincinnati-based Midland Atlantic Properties. The Publix-anchored retail property was completed in the first quarter of 2011 and is 90 percent occupied. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in the state of Florida.