Southeast

CUTLER BAY, FLA. — Marcus & Millichap has arranged the $4 million sale of Best Plaza, a 21,881-square-foot shopping strip at 197000 S. Dixie Highway in Cutler Bay. Major tenants include Sherwin Williams, Subway and FastSigns. Kirk Olson and Drew Kristol of Marcus & Millichap represented the seller, a Miami-based private investor, in the transaction. Olson and Kristol, along with Marcus & Millichap's Still Hunter and Evan Olson, also represented the buyer, a Brooklyn, N.Y.-based limited liability company.

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DELRAY BEACH, FLA. — Fairfield Residential has acquired Spring Harbor at the Landing, a 488-unit garden apartment community in Delray Beach, for $69.1 million. The property features and average unit size of 1,191 square feet in eight floor plans, 57 percent of which are two bedrooms and 37 percent three bedrooms. The property is near local and regional employment centers, including the Boca Raton office market, which comprises more than 11 million square feet of office space. Spring Harbor is 97 percent occupied. Avery Klann and Richard Donellan of ARA represented the seller, Invesco Real Estate, in the transaction.

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CHARLOTTE, N.C. — Campus Crest Communities has signed an agreement to acquire Copper Beech Townhome Communities, with the initial stage of the investment representing a 48 percent ownership in a portfolio of 35 student housing properties. Pursuant to this agreement, CCG has the right to buy the final 52 percent stake in the Copper Beech portfolio in stages over a period of up to three years at fixed prices. The initial investment is $261.9 million. The investment will give Charlotte-based CCG a combined portfolio of nearly 42,000 beds.

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ABERDEEN, MD. — St. John Properties Inc. has completed construction on 6190 Guardian Gateway, a new 75,000-square-foot office building within The Government and Technology Enterprise (GATE) project in Aberdeen. The GATE is a 416-acre business community, and the new building represents the 10th office building completed by St. John Properties in the past three years at the park. The building, currently 35 percent leased, was designed and constructed to achieve LEED Silver certification.

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ATLANTA — Indigo Payments Inc., a payment processing solutions company, has renewed and expanded its office lease at 2000 Riveredge Parkway, a 229,948-square-foot property in Atlanta. The tenant expanded from 3,100 square feet on the seventh floor to 8,072 square feet on the sixth floor. Steve Massell of Lee & Associates represented the tenant in the transaction. Cindy Coombs of Newmark Knight Grubb Frank represented the landlord, Rfp Mainstreet 2000 Riveredge.

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TYSONS CORNER, VA. — HFF has arranged a $65 million construction loan for 7940 Jones Branch Drive, a 307,000-square-foot office development in Tysons Corner. The borrower was a joint venture between MRP Realty and Rockpoint Group. Scheduled for completion in 2014, the development is approximately 50 percent pre-sold to Logistics Management Institute, a non-profit consultancy organization. The 11-story building will be adjacent to the newly completed Jones Branch connector road. Dan McIntyre led the HFF team that arranged the loan through EagleBank.

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HARTSELLE, ALA. — Marcus & Millichap has arranged the $18.3 million sale of A Storage Place, a nine-property, self-storage portfolio in Alabama. The 504,000-square-foot portfolio includes 3,272 units. The facilities are located in Hartselle, Madison, Huntsville, Florence, Lacey's Spring and Decatur. The facilities include security cameras, gated entries, interior and exterior units, climate and non-controlled climate units and recreational vehicle and boat storage. Michael Mele and Edwin Greenhalgh of Marcus & Millichap represented the seller, a limited partnership in the transaction. The buyer is a Florida-based limited partnership.

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TAMPA, FLA. — Urdang, the real estate manager for BNY Mellon, and its joint venture partner Crocker Partners have acquired the Two Harbour Place office building and an adjacent 1.2-acre site in Tampa. Amstar/CNL Two Harbour LLC sold the office property and Lindell-Harbour LLC sold the adjacent site, which is zoned for multifamily development. Two Harbour Place is a Class A, 180,000-square-foot building constructed in 1998 and renovated in 2006. The property is 90 percent leased and located on Tampa's Harbour Island, an upscaled planned development that includes commercial, lodging and residential uses.

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ORLANDO — Wood Partners has held a grand opening for its new apartment community, Alta at Lake Eve, a 264-unit property consisting of four, four-story buildings and two, two-story carriage home buildings, in Orlando. The property, located at 12515 Lake Square, is two miles from Walt Disney World and five miles from Universal Studios and Sea World. Community amenities include a private movie theater, fitness center and washer-dryer units in every residence. Wood Builders LLC was the builder and Charlan Brock & Associates was the architect. HSBC Bank USA provided construction financing for the $32.7 million project.

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