GULFPORT, MISS. — The Naval Facilities Engineering Command has selected Satterfield & Pontikes (S&P) Construction to build a 57,000-square-foot Branch Health Clinic, located in Gulfport. The Navy patient care facility will replace the base's 42-year-old health clinic. S&P will demolish two buildings and a manual car wash to build the property, which is designed to achieve LEED Silver certification. Completion is slated for fall 2014.
Southeast
ORLANDO, FLA. — The 240-unit Silver Pines Apartments, a multifamily community located at 5402 Pine Chase Road in Orlando, has sold for $6.26 million. Cole Whitaker, Hal Warren and Jason Stanton of Hendricks & Partners represented the seller, a Dallas-based special servicer, in the transaction.
ELLENWOOD, GA. — PointOne Holdings has acquired the 240-unit Cobblestone Flats, a multifamily community located at 2445 Rex Road in Ellenwood, for $4.5 million. The buyer plans to implement a capital improvement plan to enhance the property's curb appeal, interiors, amenity package and clubhouse. The community will also be rebranded as The Oaks at Ellenwood. Southeast Apartment Partners represented the seller in the transaction.
CHATTANOOGA, TENN. — WholeLife has broken ground on the $30 million, 104-unit WholeLife Chattanooga, a multifamily development located at 1240 Mountain Creek Road in Chattanooga. Amenities will include a clubhouse, fitness center, swimming pool, billiards room and 24/7 concierge service. The development is the first of 100 WholeLife concepts planned for development nationwide during the next five to seven years. Full completion is slated for September 2014, with the first units expected to be available in May 2013.
JONESBORO, GA. — Kaiser Permanente has selected McCarthy Building Cos. for the $25 million renovation of the 70,563-square-foot Southwood Comprehensive Medical Center, located at 2400 Mount Zion Parkway in Jonesboro. The project will include increased parking, a new radiology addition and a two-story general addition totaling 65,000 square feet. Gresham, Smith and Partners is the architect of record. Construction is scheduled to begin this fall, with completion slated for January 2014.
LADY LAKE, FLA. — CNL Healthcare Trust has agreed to invest $21.6 million in the 96-unit HarborChase of Villages Crossing, a to-be constructed assisted living and memory care community in Lady Lake. The two-story building will total 91,000 square feet. Harbor Retirement Associates is the project developer and will provide management services under a long-term contract upon completion. CNL owns 100 percent of the project.
MEBANE, N.C. AND DALLAS, GA. — STAG Industrial has purchased three industrial buildings totaling 518,383 square feet, for $19.8 million. Two of the buildings are located in Mebane and one is located in Dallas. The properties include two warehouse and distribution facilities and one light manufacturing facility, which are fully leased to Armacell, with an average remaining lease term of 12 years.
LOUISVILLE, KY. — Steadfast Income REIT has purchased the 160-unit Valley Farms Apartments, a garden-style multifamily community located at 5306 Valkyrie Way in Louisville, for $15.1 million. The property is 97 percent occupied. Amenities include a resort-style pool, fitness center, barbeque area and a business center.
NASHVILLE, TENN. — Pollack Shores Real Estate Group has sold the 220-unit Velocity in the Gulch, a multifamily property located at 320 11th Ave. S. in Nashville, for $37.5 million. Amenities include a sky lounge with outdoor cabanas, gym and controlled access parking garage. Walton Street Capital was the buyer. The seller had previously converted the property from condominium units to for-rent apartments. The sale did not include the 43 condo units or the ground-level retail.
ASHLAND, VA. — CapLease has entered into a build-to-suit agreement to construct a $20 million, 311,730-square-foot distribution warehouse, located in Ashland, on behalf of Vitamin Shoppe Industries. The company has entered into a 15-year net lease that will commence upon completion of construction, which is slated for the second quarter of 2013.