BATON ROUGE, LA. — RockBridge Partners has purchased the 290-room Hilton Baton Rouge Capital Center, located on the Mississippi River in downtown Baton Rouge. The property includes more than 20,000 square feet of meeting space, an outdoor pool, garden deck and the Viking Cooking School Outdoors. Dallas-based Prism Hotels & Resorts sourced the off-market deal and will manage the property, which will undergo a $7.1 million renovation.
Southeast
VIRGINIA GARDENS, FLA. — Marcus & Millichap has arranged the $7.5 million sale of a 134,743-square-foot office property, located at 6595 NW 36th St. in Virginia Gardens. The building is 67 percent leased to tenants in service industries including health care, insurance, real estate and government. Alex Zylberglait off Marcus & Millichap represented the seller, a Texas-based limited liability company, in the transaction, as well as the buyer, a North Miami Beach, Fla.-based limited liability company.
DURHAM, N.C. — American Real Estate Partners has sold the three-building Keystone Park, located west of the Interstate 40/540 intersection in Durham, to an affiliate of Investcorp for $48.4 million. The portfolio is 94 percent leased to 23 tenants in the healthcare, research, technology and financial services industries. Paul Collins, Bill Collins, Drew Flood, Jud Ryan, James Cassidy and David Finger of Cassidy Turley represented the seller.
GREENVILLE, S.C. — STAG Industrial has purchased two warehouse and distribution facilities, located near Greenville, for $26 million. The properties total 787,380 square feet and are fully leased with an average lease term of 4.5 years. The buildings include a 474,000-square-foot building, which is primarily leased to L. Perrigo Co., and a 313,380-square-foot building, which is leased to Arvato Digital Services.
KISSIMMEE, FLA. — Marcus & Millichap has arranged the $9.55 million sale of the 83,340-square-foot Kissimmee Korners, located at 1507 N. John Young Parkway in Kissimmee. Tenants include Budget Rent-A-Car, Little Caesars, United Legacy Bank and state government offices. Douglas Mandel and Mark Thompson of Marcus & Millichap represented both parties in the transaction.
HAMPSTEAD, N.C. — Wakefield Associates has broken ground on the 82,000-square-foot Hampstead Town Center, a shopping center located at the intersection of Ravenswood Road and U.S. Highway 17 in Hampstead. A 44,000-square-foot Lowes Foods Grocery Store will anchor the center. Completion is slated for May 2013.
KNOXVILLE, TENN. — Ziff Properties has purchased the 31,400-square-foot Franklin Shopping Centre, located at 913-925 Highway 321 N. in Knoxville, from US Bank for $2.25 million. Aaron's Rental and Dollar Street anchor the center.
CELEBRATION, FLA. — Inland Private Capital Corp. has sold a 193,463-square-foot office building, located at 220 Celebration Place in Celebration, for $31.1 million. The property is fully occupied by Walt Disney World Co., which has five years remaining on its lease. The buyer was an unaffiliated third party. Stan Johnson Co. represented the seller in the transaction.
GASTONIA, N.C. — REPI has opened its $8 million, 44,000-square-foot North American headquarters, located in the 350-acre Gastonia Technology Park in Gastonia. Carroll Properties Corp. was the site consultant for the project. The new facility will create approximately 40 jobs.
SPARTANBURG, S.C. — Marcus & Millichap has arranged the $3.05 million sale of the 92-unit Timberlane, an apartment complex located at 106 Kensington Drive in Spartanburg. Amenities include a pool, playground, laundry facilities and outside storage. Mark Boyce of Marcus & Millichap represented both parties in the all-cash transaction.