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.
Southeast
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.
BUFORD, GA. — Satellite Investors LLC has sold the 296-unit Waterstone Apartments at 1851 Satellite Blvd. in Buford to Chicago-based Westdale Investment Partners LLC. The Class A multifamily property features a resort-style saltwater pool, fitness center and business center. Ron Cameron of Colliers International’s Atlanta office represented both the buyer and seller. Waterstone Apartments, which was built in 2011, was 97 percent leased at the time of sale and the purchase price was undisclosed.
BENTONVILLE AND VAN BUREN, ARK. — Boston Capital has provided equity and construction loan financing for the rehabilitation of two affordable housing properties in Arkansas: Garden Walk of Bentonville in Bentonville and Garden Walk of Elfen Glen II in Van Buren. Garden Walk of Bentonville features one- and two-bedroom units in 10 one-story buildings. Development improvements will include the installation of a leasing office, a playground and landscaped areas. Garden Walk of Elfen Glen II features one-, two- and three-bedroom units in 11 one-story and four two-story buildings. Development improvements will include laundry facilities, an on-site office, playgrounds, a basketball court and a pavilion. Units in both multifamily properties will be available to families earning 60 percent or less of the area median income (AMI).
ORLANDO, FLA. — A 15,000-square-foot industrial property at 6101 Anno Ave. in Orlando has traded. The property was built in 1962 and includes two commercial buildings on 1.5 acres. Richard Matricaria of Marcus & Millichap’s Orlando office represented the unlisted seller and Joe LaFleur also of the firm’s Orlando office secured the buyer, a private investor. The industrial property is located six miles south of downtown Orlando.
Washington, D.C.’s suburban industrial markets in Maryland and Northern Virginia have seen limited new development due to supply constraints for well-located and developable land. Currently, suburban Maryland’s industrial activity is centered around the redevelopment of inefficient but well-located properties to meet the needs of today’s warehouse users that require features such as ceilings with at least 24-foot clear heights, 120-foot truck loading courts, trailer-drop areas and flexible configurations with 50-foot on center column spacing. With its strong fundamentals, the industrial property investment sales market continues to be a focus for institutional investors and REITs. Despite overall economic sluggishness, both markets have strong upside potential. Suburban Maryland Exemplifying suburban Maryland’s redevelopment trends, Chesapeake Realty Group, Oakmont Industrial and Carlyle Group are renovating a 368,000-square-foot former special-purpose facility into a new, modern general- purpose distribution center along the eastern Capital Beltway network. A similar deal involves the renovation and Nash Finch’s subsequent 500,000-square-foot lease of a former Giant Food ’60s-era distribution center. This single transaction led to the vacancy rate falling to below 9 percent in the Landover submarket. Limited new development is occurring along the main transportation arteries feeding into D.C.’s CBD. Demand drivers include regional distributors and service companies catering …
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