WINTER PARK, FLA. — CNL Construction Real Estate has begun construction on an 85,000-square-foot Class A office building in Winter Park. The office building, called Heritage Park, will be home to Brasfield & Gorrie’s regional headquarters in Florida. CNL Bank will also be a tenant. Heritage Park will be completed in late 2013.
Southeast
MIAMI BEACH, FLA. — A portfolio consisting of two art deco-style apartments on Miami Beach’s South Beach has traded for approximately $5 million. A 23-unit apartment building at 1610 Euclid Ave. sold for $2.69 million and a 20-unit apartment building at 1600 Pennsylvania Ave. sold for $2.3 million. Arthur Porosoff of Marcus & Millichap’s Miami office represented the seller, a Miami Beach-based limited liability company, and the buyer, an Italian-based private foreign investor.
TAMPA, FLA. — Sun Pointe Lake, a 350-unit multifamily community at 14200 Bruce B. Downs Blvd. in Tampa, has traded for $14.2 million. A Miami-based private investor sold the property to an Alabama-based student housing operator. Sun Pointe Lake was built in 1981 and is situated on approximately 21 acres near the University of South Florida. Bob Goldfinger, Darron Kattan and Kevin Kelleher of Tampa-based Franklin Street Real Estate Services represented both parties. “The buyer saw the opportunity to redevelop this apartment community into a fully furnished, master-metered student property,” says Goldfinger. “They will spend significant capital to modernize the property allowing it to compete with newer construction community around the University of South Florida.”
MURRELLS INLET, S.C. — Flagship Capital Partners, the investment affiliate of Charlotte, N.C.-based Brackett Flagship Properties, has acquired the 17,694-squarefoot Inlet Medical & Dental Center office building in Murrells Inlet. Flagship purchased the property through Flagship Healthcare Real Estate Fund, its recently launched private equity fund. Inlet Medical Associates, an affiliate of Roper Saint Francis physician practice, anchors the building that is 100 percent leased. Other tenants include Adult & Children’s Dentistry, Bio Identical Hormones, Clinical Research Authority and Myers Podiatry Clinic.
STAFFORD COUNTY, VA. — A 5,200-square-foot loft-style apartment building with a ground-floor restaurant in the Historic Falmouth District in Stafford County has traded. 103 West Cambridge LLC purchased the property from Hugh Arthur Mooney as an owner-occupied investment. Paul Eakin of Cushman & Wakefield/Thalhimer represented the buyer.
WASHINGTON, D.C. — Raymond Hubbard III has been hired as an account manager for Skanska USA’s Washington, D.C., office. He has 34 years of experience and previously served as senior vice president for Clark Construction in the Washington, D.C., region. Hubbard served as the project director and senior vice president in constructing the 82-acre National Geospatial Intelligence Facility in Fort Belvoir, Va., for the U.S. Army Corps of Engineers.
MIAMI — Miami-based Blanca Commercial Real Estate, which provides brokerage and advisory services to owners and users of commercial real estate, has promoted Andres del Corral to vice president and Alexander Cahlin to associate vice president. del Corral specializes in office leasing and land sales, while Cahlin specializes in tenant and landlord representation as well as market research and analysis.
WASHINGTON, D.C. — Greenebaum & Rose Associates has sold an 11-story, 298,533-square-foot building at 820 First St. in Washington, D.C., to an affiliate of Harbor Group International for $107 million. The Class A office property is 100 percent leased and is situated within Union Center Plaza adjacent to Union Station. It is leased to a variety of tenants, including CNN, Accenture and the U.S. General Services Administration (GSA). Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented Greenebaum & Rose Associates in the transaction.
SAVANNAH, GA. — The 185,244-square-foot Abercorn Common, a community shopping center located adjacent to Oglethorpe Mall in Savannah, has traded through Auction.com. It is 96 percent leased to tenants including HomeGoods, Michaels, Office Depot, Party City, ULTA, Ashley Furniture, McDonald’s, Firehouse Subs and Panera Bread. A special purpose entity controlled by LNR Partners LLC served as special servicer and the buyer was a private investor from Savannah. Mark Gilbert, Adam Feinstein and Gary Saykaly of Cushman & Wakefield Retail Investment Advisors acted on behalf of the seller.
LOUISVILLE, KY. — Berkeley Point Capital LLC has facilitated a $28.1 million loan insured by the Federal Housing Administration (FHA) for the construction of Claibourne Crossing, a 242-unit garden-style apartment community that will be located near the Lake Forest residential development and golf course in Louisville. The multifamily property will feature one-, two- and three-bedroom units in 19 two- and three-story buildings. Amenities will include a clubhouse, fitness center, business center, conference room, game room, playground and pool. TDK Construction is designing and developing Claibourne Crossing.