VIERA, FLA. — Viera-based Viera Commercial Properties has arranged the $11.9 million sale of six Christian Brothers Automotive stores. The single-tenant properties total more than 29,000 square feet, and are located in Lake Worth and Schertz, Texas; Collierville and Hendersonville, Tenn.; Grayson, Ga.; and Monument, Colo.
Southeast
SUWANEE, GA. — A partnership between Marietta, Ga.-based Columbia Properties and New York City-based Red Starr Management has purchased the 70,000-square-foot Suwanee Depot Shopping Center, located on Lawrenceville-Suwanee Road in Suwanee, for $5 million. Office Depot and Bodyplex Fitness anchor the center, which is 80 percent leased. The seller was Suwanee Depot Partners.
ALGIERS, LA. — N3 Real Estate and PMAT Cos. have acquired the 150,000-square-foot Algiers Plaza Shopping Center, located at General de Gaulle and Holiday drives in Algiers for $32 million in a related party sale. PMAT previously owned the center with a different partner. Winn Dixie and Walgreens anchor the center, which is 92 percent leased. The partnership plans to expand the center to 250,000 square feet. New tenants will include Ross Dress For Less, Petco and Burke's Outlet, which are scheduled to open in February 2013. Construction is expected to last 24 months.
FORT LAUDERDALE, FLA. — Banyan Street has acquired the 230,238-square-foot Tower 101, a two-building office property located in Fort Lauderdale, from Cap Advisors and Principal Real Estate Investors for $28.7 million. The 21-story tower is 68 percent leased. Christian Lee, Charles Foschini, Jose Antonio Lobon, Deanna Lobinsky and Travis Herring of CBRE Group represented the seller in the transaction. Additionally, CBRE secured $19 million in acquisition financing through Banco Sabadell.
MEMPHIS, TENN. — A joint venture between Hillwood Investment Properties and Brookfield Asset Management has purchased a 1.6 million-square-foot industrial portfolio, located within Southpark Distribution Center in Memphis. The acquisition includes five Class A industrial buildings.
RIVIERA BEACH, FLA. — ARA has negotiated the sale of the 408-unit Woodbine, a luxury apartment complex located at 9000 Woodbine Trail in Riviera Beach. The property is 95 percent leased. Avery Klann, Richard Donnellan and Hampton Beebe of ARA represented the seller, an institutional investor, in the transaction. Canada-based Morguard North American Residential REIT was the buyer.
WASHINGTON, D.C. — Carroll Associates has sold four apartment buildings totaling 129 units, located in Washington, D.C., for a combined $5.93 million. Mayfair LLC acquired 1720 & 1721 Corcorn St. NE, 1 Hawaii Ave. NE and 734 Fairmont St. NW. Girard Street Tenant Association purchased 744 Girard St. NW. Greysteel Co. represented the seller in both transactions.
PEMBROKE PINES, FLA. — The 296-unit Lakes at Pembroke, located at 9900 Sheridan St. in Pembroke Pines, has sold for $42 million. The property is 96 percent leased. Amenities include two swimming pools, sport courts, a playground, covered parking and a fitness center. Marc deBaptiste, Avery Klann and Hampton Beebe represented LaSalle Investment Management, the seller, in the transaction. The buyer was Atlanta-based Stockbridge Capital.
LAKE MARY, FLA. — CBRE Group has arranged the $39.6 million sale of the 600-unit Sun Lake, a multifamily community located at 420 Sun Lake Circle in Lake Mary. Amenities include a private lake, 24-hour fitness center, two swimming pools and a clubhouse with a wide-screen TV and movie viewing area. Shelton Granade and Luke Wickham of CBRE Group represented the seller in the transaction. The buyer assumed an existing loan and will finish stabilizing the property, which was largely vacated during a construction project on site.
CHARLOTTE, N.C. — The 296-unit Lake Point Apartments, a multifamily community located at 7259 Point Lake Drive in Charlotte, has sold for $4.3 million. Atlanta Capital Advisors, the buyer, plans to invest $4.5 million to renovate the community. Mike Fowler and Jim Davis of Brown Investment Properties represented the seller in the transaction.