ATLANTA — The state of Georgia has selected Manhattan Construction Co. to build the $9.5 million headquarters for Georgia Poultry Laboratory Network. The 38,000-square-foot facility will be located off Highway 365 in unincorporated Hall County, Ga. Construction of the single-story building, which will include laboratories and office space, is slated to begin in April. Completion is scheduled for 2015. The network provides diagnostic and monitoring services to Georgia's commercial poultry industry to ensure the safety of poultry products.
MIRAMAR, FLA. — Riviera Point Holdings has started vertical construction of the $17 million Professional Center at Riviera Point, the Miramar market's first Class A office development since 2009. Located on a four-acre site at University Drive and the Florida Turnpike, the 70,000-square-foot property is also the first Broward office development being funded through the job-creating international EB-5 investment. Itsaca Construction Associates will serve as the general contractor. Corrales Architectural Group designed the project.
CORAL GABLES, FLA. — A Florida-based developer has acquired a 1.4-acre multifamily site in Coral Gables for $8.5 million. The site was one of two vacant sites along Ponce De Leon Boulevard. Rosendo Caveiro and Brad Capas of Cushman & Wakefield represented the seller in the transaction. The Roseview Group engaged a local broker on behalf of the lender and oversaw the preparation of the marketing package.
ORLANDO — Pennsylvania Real Estate Investment Trust has sold Orlando Fashion Square Mall for $35 million as part of its previously announced plan to dispose of certain non-core assets. The 1.1 million-square-foot regional mall is anchored by Dillard's, JC Penney, Macy's and Sears. As of Dec. 31, 2012, the mall was 80 percent leased and sales at the property were approximately $233 per square foot.
COLUMBIA, MD. — Developers have broken ground on the $100 million Metropolitan Downtown Columbia, a 380-unit apartment complex. A partnership between Orchard Development, Kettler and Howard Hughes Corp. is constructing the property, which will include 14,000 square feet of ground-floor retail space. The complex is slated to open in late summer 2014. Amenities will include a clubhouse, fitness center, media and game rooms, a courtyard featuring an outdoor screening room, a pool and cabanas.
ALEXANDRIA, VA. — MAC Realty Advisors has arranged nearly $50 million in financing for the development of Braddock Metro Place, a 165-unit apartment community in Alexandria. JW Capital Partners and its local partner plans to break ground on the 10-story property near the Braddock Metro Station this quarter. John Moriarty & Associates will serve as the general contractor. Andrew McAllister, Bruce Levin and Caren Garfield led the MAC Realty team that secured $18.6 million from an insurance company and an additional $29.2 million in senior construction-to-permanent financing from a life insurance company.
ATLANTA — Nightingale Properties has acquired Atlanta's One Hartsfield Centre from a large European pension fund for $10 million. The 147,731-square-foot office property overlooks the north end of Hartsfield-Jackson Atlanta International Airport. Last December, Triumph Motorcycles signed a long-term lease to move its North American headquarters into the property. Mike Shelly and Sonia Winfield of Cassidy Turley represented the seller in the transaction. One Hartfield Centre is the second office building that New York-based Nightingale has acquired in the Atlanta area. The investor also owns retail centers in metro Atlanta.
ASHLAND, VA. — Clemons Warehouse LLC has acquired a 416,930-square-foot office and warehouse facility in Ashland for $2.4 million. Kepley Broscious & Biggs, PLC Trustee was the seller. Robert Porter Jr. of Porter Realty Co./CORFAC International represented the buyer in the transaction.
BOYNTON BEACH, FLA. — Berkeley Point Capital has arranged a $44 million FHA loan for the construction of Compson Place at Renaissance Commons, a 338-unit apartment community in Boynton Beach. The borrower, Compson Associates, is developing the Class A building, which will include two in-ground swimming pools, a clubhouse, Wi-Fi lounge and business center. The project will be part of a larger, 86-acre, mixed-use development known as Renaissance Commons, also developed by Compson Associates. Berkeley Point arranged the 40-year, fixed-rate financing under HUD's Section 220 Mortgage Insurance program.
WASHINGTON, D.C. — Rock Creek Property Group has acquired 808-810 5th St., two adjacent buildings totaling 31,000 square feet in Washington, D.C., for $5.9 million. The properties are located in the city's Gallery Place/Chinatown neighborhood, steps away from the Verizon Center. The seller was Gospel Rescue Ministries, which previously occupied the space. Rock Creek plans to develop a 50-unit apartment or condominium project on the site. Other possible uses include university housing, corporate housing for the surrounding base of national law firms and clinical or office space for faith-based and other non-profit organizations.