ROME, GA. — Franklin Street Real Estate Services has arranged the $1.16 million sale of an 8,000-square-foot Family Dollar, located in Rome. Mac McCall of Franklin Street represented the seller, a Chattanooga, Tenn.-based developer, in the transaction. The buyer was an Atlanta-based investment company.
Southeast
RICHMOND, VA. — CBRE Group has secured $43.3 million in permanent financing for the SunTrust's Mid-Atlantic headquarters, located in Richmond. Included in the collateral were the 458,229-square-foot main building, the 28,111-square-foot SunTrust center and a 370-space parking garage. Charles Foschini, Christopher Apone and Christian Lee of CBRE Group arranged the three-year loan with an interest-only amortization schedule through NorthStar Income on behalf of Parmenter Realty Partners, the borrower.
MIAMI — LNR Property and LYND plan to break ground on the $65 million, 390-unit EnV at Mary Brickell Village, an 800,000-square-foot residential tower located at 999 SW 1st Ave. in Miami, this month. The 35-story tower will be constructed on top of an existing Publix and multi-level parking structure for the Shops at Mary Brickell Village. Amenities will include a recreation deck with a swimming pool, spa, gazebos and cabanas. Behar Font & Partners is the architect for the project, which Plaza Construction is building. BlackRock Realty Advisors is the equity provider and Wells Fargo is the construction lender. Completion is slated for 2014.
RALEIGH, N.C. — Roundabout Partners has sold the 202-room Clarion Hotel, located in Raleigh, to South Hospitality for $9.35 million. The buyer plans to convert the hotel back to a Holiday Inn. The property includes 7,800 square feet of meeting space, an outdoor swimming pool, fitness and business centers and a restaurant. Monty Levy and Ketan Patel of HREC Investment Advisors represented the seller in the transaction.
COLUMBUS, GA. — The 81-suite Home2 Suites by Hilton, located at 1664 Whittlesey Road in Columbus, has opened. The all-suite hotel is the first in Georgia. Amenities include the Oasis lobby area, the Home2 MKT, Spin2 Cycle and complementary breakfast. Nirvana LLC owns the property and RAM Hotels manages it.
FREDERICKSBURG, VA. — Calkain Cos. has arranged the $2.9 million sale of a 2.08-acre McDonald's ground lease, located in Fredericksburg. The lease term is 20 years, with structured rent increases and renewal options. Andrew Fallon of Calkain Cos. represented the seller, a private family investment group, in the transaction. The buyer was a 1031-exchange, California-based buyer.
PANAMA CITY AND JACKSONVILLE, FLA. — CBRE Group has arranged $37.1 million in financing for three multifamily properties located in Florida. In Panama City, the company secured $23.5 million in permanent debt to refinance Eagles Landing and Enclave in Panama City on behalf of Arbor Properties, the borrower. The 10-year loan has a 30-year amortization schedule. In Jacksonville, CBRE Group arranged $13.6 million in permanent financing for the acquisition of Waterford Apartments, on behalf of Insula Properties. The 10-year loan has two years of interest-only payments followed by a 30-year amortization schedule. Glenn Housman of CBRE Group arranged the loans through Freddie Mac.
The first half of 2012 has proven fairly stable for the Columbia industrial market. While the first quarter of 2012 experienced trickle over activity from the end of 2011, the second quarter tempered that with marked slowdown. Even though the vacancy rate remained relatively flat at 15.78 percent, average asking rates actually increased 5 cents to $3.53 per square foot. The Columbia industrial market has seen significant investment during the past 12 months, with manufacturing continuing to lead the pack with major investments from Amazon.com, Mars Petcare, Nephron Pharmaceuticals, Bridgestone, Michelin and Continental Tire. South Carolina — and the Central Midlands area, in particular — has experienced significant growth. Amazon.com delivered its 1.2 million-square-foot distribution center and Nephron is building its $313 million campus in Lexington County. Mars Petcare is constructing a 290,000-square-foot expansion in Richland County, in the Southeast corridor. South Carolina is fast becoming the North American capital for tire manufacturing, with most of those facilities located throughout the Midlands region. Bridgestone is expanding, adding 474,000 square feet to its current facility and the company is constructing a new 1.5 million-square-foot manufacturing facility in Aiken. Continental Tire continues construction on its $500 million plant in Sumter County and …
NORTH BETHESDA, MD. — Archstone has purchased the 237-unit Grosvenor Tower, an apartment high-rise located at 10301 Grosvenor Place in North Bethesda. The multifamily community will be renamed Archstone Grosvenor Tower. Amenities include a 24-hour fitness center, swimming pool with sundeck, business center and walking/biking trail.
OLDSMAR AND LUTZ, FLA. — MIG Real Estate has purchased a three-hotel portfolio, located in Oldsmar and Lutz, from Menna Development & Management. The portfolio includes the 99-room Courtyard by Marriott, located at 4014 Tampa Road in Oldsmar; the 78-room Residence Inn by Marriott, located at 4012 Tampa Road in Oldsmar; and the 100-room Residence Inn by Marriott, located at 2101 Northpointe Parkway in Lutz. The buyer plans to renovate the lobby, guestrooms and other public spaces in the Courtyard, as well as the lobby and public spaces of the Residence Inn in Oldsmar. Concord Hospitality Enterprises will manage the properties. Ron Danko, Robert Taylor and Zoe Martineau of CBRE Group represented the seller in the transaction.