FORT MYERS, FLA. — JL Wallace has been selected to construct Next Level Church Gateway Campus, a satellite location for Next Level Church, in Fort Myers. The 18,500-square-foot facility will be constructed on 7.5 acres at 11081 Gateway Blvd. The facility will include an auditorium, foyer, classrooms for children and youth and offices. Robert Massengale will provide design services and David Douglas Associates will provide engineering services.
ALPHARETTA, GA. — HQ Global has inked a lease renewal for 19,251 square feet of office space at One Northwinds in Alpharetta. Hunter Henritze and Michael Howell of Lincoln Property Co. Southeast represented the landlord, Equity Office, in the transaction. Ryan Hudson of CBRE represented the tenant.
ORLANDO AND MAITLAND, FLA. — HFF has arranged a $50 million refinancing loan for three office properties totaling more than 780,000 square feet in Central Florida. The properties include Quorum Center and Oakridge Office Park in Orlando and 850 Trafalgar in Maitland. The borrower was a joint venture between Praedium Group and Tower Realty Partners Inc. Michael Weinberg, Elliott Throne and Chris Drew led the HFF team that arranged the 10-year, fixed-rate loans for Quorum Center and 850 Trafalgar through UBS Real Estate Finance Group. They also arranged the 10-year, fixed-rate loan for Oakridge Office Park through Morgan Stanley.
ORLANDO — BB&T Real Estate Funding, a subsidiary of Grandbridge Real Estate Capital, has arranged a $13.1 million acquisition and renovation loan for Carlton Arms, a 558-unit multifamily property in Orlando. The nonrecourse financing was structured with a 36-month term with tow, 12-month extensions.
MIAMI — Miller Construction Co. has completed the renovation and expansion of Fisher Island Club's 24,000-square-foot Spa and Fitness Center in Miami. The work includes a renovated lobby, six new pools and a state-of-the-art fitness center. The construction team preserved the exterior of the historic building, which was originally the private plane hangar at the 1920s-era Vanderbilt family Fisher Island estate. BC Architects designed the renovation.
BALTIMORE, MD. — Cushman & Wakefield has been selected to oversee the property management and project management at 120 East Baltimore St., a 25-story, 327,140-square-foot office building in Baltimore's City Center. The property is the firm's largest managed asset in downtown Baltimore. Franklin Street Properties Corp., the owner and landlord, purchased the property in 2007. T. Courtenay Jenkins, Tim Jackson and Whitney Nye of Cushman & Wakefield will lease the property on behalf of the landlord.
CHARLOTTE, N.C. — ToolBank has signed a 7,830-square-foot lease at 2531 St. Tryon St. in Charlotte. ToolBank serves more than 150 charitable organizations in the Charlotte area, providing them access to more than 140 different types of tools in volumes large enough to equip thousands of volunteers at a time. The organization will occupy the entire industrial building for its non-profit operations. The property is undergoing renovations and will reopen in April 2013. Frank McCleneghan of Piedmont Properties/CORFAC International represented the tenant in the transaction. Doug Wynne of Perennial Commercial Real Estate represented the landlord.
The office market in the Baltimore metropolitan statistical area — which encompasses the counties of Anne Arundel, Baltimore, Harford, Howard, and the eastern portion of Carroll County, as well as Baltimore City — experienced a slight uptick in activity in the fourth quarter of 2012. The market saw a 0.49 percent decrease in direct vacancy, dropping from 15.77 percent in the third quarter of 2012 to 15.28 percent in the fourth quarter. This dip is attributed to nearly 100,000 square feet of positive absorption within the overall market. As with any statistical number, a closer look at these numbers reveals several patterns that may or may not be indicative of larger economic trends within the market. The northern part of the market, consisting of Baltimore and Harford counties, saw negative absorption of 100,531 square feet. The 0.44 percent increase is directly attributed to office properties in Harford County entering the market at various levels of occupancy, including a 75,493-square-foot building outside the U.S. Army’s Aberdeen Proving Ground that entered the market completely vacant. Further inspection of activity throughout the north part of the market indicates that small and medium size tenants — firms under 20,000 square feet — are still …
JACKSONVILLE, FLA. — GoldOller Real Estate Investments has acquired Country Club Lake Apartments in Jacksonville for $56 million. The 555-unit complex is located in the East Jacksonville section of the city and the transaction was part of GoldOller's open-ended apartment fund. The fund, launched in 2010, now includes a portfolio of 6,500 units in seven states, valued at $500 million. Country Club Lake includes three swimming pools, three clubhouses and an adjacent golf course.
MELBOURNE, FLA. — Pollack Shores Real Estate Group has acquired the 252-unit Polo Glen Apartments in Melbourne for $28.2 million. Matrix Residential will manage the Class A gated community. The property is 94 percent occupied and amenities include a heated pool, fitness center, and playground. Kevin Judd of ARA arranged the sale and Stephen Farnsworth of Walker & Dunlop secured a 10-year, Freddie Mac loan for the property. The community is located at 3603 Middleburg Lane.