MEDLEY, FLA. — HFF has secured a $9.3 million construction loan for a 185,520-square-foot spec industrial development on an 8.8-acre site in Medley. The site has direct rail access on site through the Florida East Coast Railway and is close to the Florida Turnpike, Okeechobee Road, the Palmetto Expressway and Route 27. Eric Tupler, Jim Dockerty and Josh Simpson of HFF placed a three-year construction loan with a national bank on behalf of Denver-based Industrial Income Trust.
Southeast
MIAMI — A six-building industrial portfolio built between 1972 and 1984 has traded for $9 million. CBRE, on behalf of the seller Sarahs Canal Co. LLC, arranged the portfolio sale to Maksanium LLC, an entity controlled by Sunrise, Fla.-based Genet Property Group. The buildings are located in the Cutler Bay area of Miami just north of the South Dixie Highway and Florida Turnpike intersection. The portfolio has 138 units and is approximately 220,000 square feet total. Tenants comprise a mixture of small, entrepreneurial businesses.
HIXSON, TENN. — Hixson Crossing, a 12,640-square-foot retail center, has sold for $3.4 million. Bob Havasi of Cooper Commercial Investment Group represented the seller, a Tennessee-based private investor, in the transaction. Hixson Crossing is located in Hixson, a suburb of Chattanooga, Tenn., and is anchored by Aspen Dental. Other tenants include Sun Tan City, Gigi’s Cupcakes, Batteries Plus, Inkredible Cartridge and Achieve Medical Weight Loss. A South Carolina-based private investment group purchased the retail property.
SNELLVILLE, GA. — A joint venture between Bayer Properties LLC and institutional investors advised by JP Morgan Asset Management has acquired The Avenue Webb Gin from Cousins Properties Inc. The Avenue Webb Gin is a 351,007-square-foot, outdoor center in Snellville, a northeastern suburb of Atlanta. The project, which opened in 2006, includes restaurants, retail and office space. Tenants include Barnes & Noble, White House/Black Market, Chico's, Francesca's Collections, DSW Shoes, Ted's Montana Grill and Romano's Macaroni Grill. Pizzeria Venti has recently signed a lease and will open soon at The Avenue Webb Gin. This marks Bayer Properties’ first asset in Georgia. Eastdil Secured represented the seller in the transaction.
MONTGOMERY, ALA. — The 272-unit Watermark at EastChase, an apartment community in Montgomery, has traded for $26.5 million. The multifamily property totals 282,636 square feet and includes one-, two- and three-bedroom apartments. A Terre Haute, Ind.-based limited liability company sold the property to Montgomery-based Broadstreet at EastChase Apartments LLC. David Oakley, Tim McKay and Aaron Hargrove of Hendricks & Partners represented the seller.
GRIFFIN, GA. — Skanska USA has completed a new $15 million, 80,000-square-foot medical technology building at Southern Crescent Technical College in Griffin. The three-story building houses programs in dental assisting, medical assisting, orthopedic <
ATLANTA — An affiliate of Valdosta, Ga.-based Ambling University Development Group (AUDG) has purchased an approximately 1.4-acre site near Georgia State University for $7.9 million. The site is located at 70 John Wesley Dobbs Ave. in downtown Atlanta. The former Ramada Hotel, rental car facility and parking garage on the property will be redeveloped in two phases. Phase I will include a 138-unit, 291-bed student housing facility that will open in summer 2013. A new tower featuring approximately 108 student housing units and 424 beds will open in summer 2014. Phase II will also include a new parking garage. John DeYonker of Bull Realty represented the seller in the transaction.
LEESBURG, VA. — A joint venture between Federal Capital Partners (FCP) and Kettler has purchased a majority interest in The Fields of Leesburg apartment complex. The Fields of Leesburg is a 404-unit garden apartment complex at 75 Plaza St. in Leesburg. The property was originally built in the 1970s in two phases and participates in an affordable housing tax credit program.
CLEARWATER, FLA. — The 172,596-square-foot Bayside Bridge Plaza, a grocery-anchored shopping center located at the intersection of McMullen Booth and Coachman roads in Clearwater, has traded for $17.25 million. An affiliate of Montreal, Canada-based Dalfen America Corp. sold the retail property to an affiliate of Hallandale, Fla.-based Isram Group of Companies. Bayside Bridge Plaza was built in 1989 and renovated in 2004 and 2010. A 42,112-square-foot Publix anchors the property, which is 91 percent leased. Other tenants include Family Fitness, Gatti Town Restaurant, Dollar Tree, Pet Supplies Plus and Ace Hardware. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE represented the seller in the transaction.
ROCKY MOUNT, N.C. — Crayton Commercial will redevelop the 76,400-square-foot Edgecombe Park Shopping Center in Rocky Mount. A 54,000-square-foot Roses Supercenter, which combines a traditional Roses Discount Store with a full-line grocery store, will anchor the retail property. The space will also include a national dollar store retailer and soft goods tenant. Redevelopment will include demolition and reconstruction of the building’s façade and new roof systems, HVAC, ceilings, lighting and electrical work on the interior. Edgecombe Park is scheduled for completion in summer 2013.