MIAMI — Marcus & Millichap has arranged the $5.96 million sale of a 4,159-square-foot Chase Bank, located at 801 SW 27th Ave. in Miami. The new lease is a 20-year, triple-net corporate ground lease. Tim Giambrone of Marcus & Millichap represented the seller, a Florida-based limited liability company, in the transaction and procured the buyer, a Long Island, N.Y.-based private investor.
Southeast
ATLANTA — Grandbridge Real Estate Capital has secured $20.7 million in first mortgage financing for the 280-unit Astoria Apartments at Riverside, a multifamily community located in Atlanta. Tom Walsh of Grandbridge's Atlanta office arranged the three-year loan with a 30-year amortization schedule through C-III Commercial Mortgage.
RICHMOND, VA. — The Greysteel Company has arranged the $28.6 million sale of the 296-unit Essex Village Apartments, located at 105 Engleside Drive in Richmond. Amenities include laundry facilities, a playground and a basketball court. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Greysteel represented the sellers, Federal Capital Partners and St. Charles Co. The buyer was GH Capital.
CORAL GABLES, FLA. — Rilea Group has completed the $18 million, 51,664-square-foot International Finance Bank Building, located at 777 SW 37th Avenue and SW 8th Street in Coral Gables. General Funding Corp. of the Bahamas owns the building, which Nichols Brosh Wurst Wolfe and Associates designed. Recently, the property received LEED Gold certification. International Finance Bank, the anchor tenant, occupies 25,000 square feet of the 48,000 square feet of office space. The remaining space is retail. Donna Abood and Matthew Anderson of Collers International are the property's leasing agents.
BELTSVILLE, MD. — CBRE Group has arranged the $5.45 million sale of a 72,222-square-foot office and distribution building, located at 11900 Old Baltimore Pike in Beltsville. The property is fully leased. Bruce Strasburg and Marc Rampulla of CBRE Group represented the seller, Beltsville I, in the transaction. The buyer was 11900 Old Baltimore Pike LLC, an entity controlled by Isaac Pretter and Eron Sodie.
ANDALUSIA, ALA. — SRS Real Estate Partners has negotiated the $3.92 million sale of the 97,000-square-foot Andalusia Marketplace, a shopping center located in Andalusia. The center is fully leased to Tractor Supply Co., Marvin's Building Materials and Food Giant. Josh Burmeister and Buff Teague of SRS represented the seller.
JACKSON, MISS. — American Real Estate Capital (AREC) has negotiated a $16 million loan secured by the fee simple interest in the 276-room Hilton Jacksonville, located in Jackson. The hotel features 27,000 square feet of meeting space. AREC arranged the three-year loan with two, one-year extension options.
FORT LAUDERDALE, FLA. — OneBlood has purchased a 75,000-square-foot office building, located at 3000 W. Cypress Creek Road in Fort Lauderdale, from the Florida Department of Financial Services for $9.8 million. MIchael Fay and John Crotty of Colliers International represented the buyer in the transaction, and Robert Listokin and Sal Bonsignore, also of Colliers International, represented the seller. The buyer will fully occupy the building, creating the BloodBank of Florida.
CHARLOTTE, N.C. — Percival McGuire has broken ground on the $7 million, 35,000-square-foot Northlake Plaza, a retail center located at 7809 W. W.T. Harris Blvd. in Charlotte. The center is pre-leased to McDonald's, Buffalo Wild Wings and Discount Tire. Percival McGuire is also planning a fourth building totaling 10,000 square feet for the property. McDonald's is slated to open in the first quarter of 2013, and Buffalo Wild Wings and Discount Tire will open in the second quarter of 2013.
CHARLESTON, S.C. — 484 King St. LLC has sold an 18,000-square-foot warehouse and showroom, located at 482 King St., 484 King St. and 83 Mary St. in Charleston, for $3.5 million. Richard Morse of Palmetto Commercial Properties represented the seller in the transaction. Bill Edlund, also of Palmetto Commercial Properties, represented King Street Enterprises, the buyer.