WINSTON-SALEM, N.C. — A 10,125-square-foot CVS/pharmacy, located in Winston-Salem, has sold for $3.45 million. The freestanding building is leased to CVS/pharmacy through Jan. 31, 2023. Terry Marks of New Hope, Pa.-based National Net Lease Investors represented the buyer, a Pennsylvania-based investor, in the all-cash transaction. The seller was a North Carolina-based developer.
Southeast
CHAPEL HILL, N.C. — The 42,370-square-foot, 433-unit Ironclad Self Storage, located at 102 Vickers Rd. in Chapel Hill, has sold for $3.11 million. Joy Godbold of Percival McGuire Commercial Real Estate and Argus Self Storage Sales Network represented the seller, W. Mitchell, in the transaction. Phoenix-based Amerco Real Estate, the buyer, also purchased an additional 5 acres for future expansion.
LARGO, FLA. — Fort Lauderdale, Fla.-based Integra Real Estate Corp. has acquired a 10,300-square-foot shopping center, located at U.S. 19 and East Bay Drive in Largo. Tenants include FedEx Kinko's and Einstein Bros. Bagels. Joe Tyszko of Insite Real Estate represented the seller, a private investor, in the transaction. The buyer was self-represented by Michael Rechter.
TAMPA — The 25-unit Merasol on Bayshore, a foreclosed multifamily property located at 6515 Bayshore Blvd. in Tampa, has sold for $1.04 million. Kevin Kelleher, Darron Kattan and Bob Goldfinger of Franklin Street represented both the seller, a regional bank, and the buyer, a private local investor, in the transaction. The property was acquired with neighborhood stabilization funds, and the buyer has planned an extensive renovation.
BETHESDA, MD. — Silverspot has signed a 50,000-square-foot lease at the 1 million-square-foot Rock Spring Centre, a mixed-use development located along Old Georgtown Road and Rock Spring Drive in Bethesda. The Peterson Cos. and DRI Development Services plan to break ground this summer on the project, which will include 549,900 square feet of office space, 210,000 square feet of retail space, the 12-screen Silverspot movie theater, a 40,000-square-foot health club, a 200-room hotel and 161 residential units. Silverspot, which is slated for completion in spring 2014, will offer a full-service cafe and bar, lounge area and concession stand. Bill Miller and Alex Walker of Transwestern represented the development team in the transaction. Mathew Focht and Sierra Group represented the tenant.
GREER, S.C. — KBS Legacy Partners Apartment REIT has acquired the 240-unit Crescent Park, a Class A apartment complex located at 401 Elizabeth Sarah Blvd. in Greer, from Crescent Apartments LLC for $20.6 million. The property is 95 percent leased. Amenities include a resort-style pool, clubhouse, billiards room and fitness center.
ST. PETERSBURG, FLA. — ContraVest and Northwestern Mutual have entered into a partnership to develop the 330-unit Courtney at Bay Pines, a luxury apartment community located at 4652 Miramar Dr. in St. Petersburg. Amenities will include a multi-level internet cafe, health club, billiards and sports entertainment room, community lounge, pool with poolside gourmet kitchen, tot lot, dog park and car care detail center. ContraVest will provide general contracting and property management services for the project, which is slated for completion in May 2013.
COCONUT GROVE, FLA. — The 46,900-square-foot Grove Plaza, a vacant, seven-story office building located at 2900 SW 28th Terrace in Coconut Grove, has sold for $3.4 million. Helen Weissman and Suzanne Lopez of Brenner Real Estate Group represented the seller, 1st United Bank, in the transaction. Silvia Lorenzo and Chip Black of Esslinger-Wooten-Maxwell Realtors represented Valor Investments, the buyer.
WASHINGTON, D.C. — Farmers Restaurant Group (FRG) and North Dakota Farmers Union have selected Artisan Partners Construction Services to oversee construction of the 10,000-square-foot Farmers, Fishers & Bakers restaurant in Georgetown at Washington Harbour in Washington, D.C. The $2.5 million project involves the build out of the former restaurant, which was destroyed in a flood in April 2011. Construction is expected to begin this month with completion slated for late fall 2012.
MIAMI — Beech Street Capital has provided a $20.2 million Freddie Mac CME loan to refinance the 276-unit Horizons North Apartments, a garden-style complex located at 665 Ives Dairy Rd. in Miami. Joel Mazur of Beech Street's Chicago office secured the 7-year, fixed-rate loan with 2 years of interest-only payments.