DURHAM, N.C. — CBRE/Raleigh has arranged the $2 million sale of a 2.59-acre restaurant outparcel in South Square Shopping Center, located at 4055 Durham Chapel Hill Blvd. in Durham. A 10,020-square-foot former Golden Corral sits on the site. Charlie Coyne and Barry Bowling of CBRE/Raleigh represented Golden Corral of Durham, the seller, in the transaction.
Southeast
ORLANDO, FLA. — A 9,014-square-foot Dollar General, located in Orlando, has sold for $1.8 million. Franklin Street represented the seller, a Gainesville, Fla.-based developer, in the all-cash transaction. The buyer was an Apollo Beach, Fla.-based private investor.
OXFORD, MISS. — Carter and Chance Partners plan to build the $39 million, 750-bed The Highlands, a student housing community located at the University of Mississippi in Oxford. The development will include a town square with roughly 15,000 square feet of retail and amenity space and a large clubhouse. Amenities will include a coffee shop, three swimming pools, fitness center with tanning facilities, a basketball court, car wash and dog wash station, a dog park, sand volleyball and other outdoor activities such as bocce ball and horseshoes. Regions Bank is providing construction financing for the project, Reese Vanderbilt is the architect and Apex Cos. is the contractor. Completion is slated for July 2013.
CORAL GABLES, FLA. — AJP Ventures has completed the $9 million, 58,000-square-foot The Building, a Class A office property located at 2990 Ponce de Leon Blvd. in Coral Gables. The Building is 65 percent pre-leased to tenants, which include Zubi Advertising and Mas Group. A joint venture between AJP Ventures, Juan Carlos of The Mas Group of Companies and TAZ Partners developed the property.
COCONUT GROVE, FLA. — Terra Group plans to develop the 96-unit Grove at Grand Bay, a condominium property located on South Bayshore Drive in Coconut Grove. Amenities will include private butlers, private elevators, rooftop swimming pools, wellness spa, fitness center, club room and pet spa. BIG Architects designed the project, which is being constructed to LEED Silver standards. Construction is slated to begin in the fourth quarter of 2012 with completion scheduled for the third quarter of 2014.
ATLANTA — Atlanta Property Group has purchased an 80,249-square-foot office building, located at 1190 W. Druid Hills Drive in Atlanta, from Duke Realty. The property is 78 percent leased. The buyer will invest $125,000 to renovate the building's common areas and attract new tenants.
ATLANTA — PCCP has provided a $30 million senior loan to refinance a 272,650-square-foot office building, located at 5660 New Northside in Atlanta. The borrower was an equity consortium led by Banyan Street Capital.
MIAMI — The 302,825-square-foot Aventura Industrial Center, located at 555 NE 185th St. and 320 NE 187th St. in Miami, has sold for $18.7 million. The two-building property is fully leased. Christian Lee, Charles Foschini, José Antonio Lobón, David Albert, Devin White, Chris Riley and Brian Budnick of CBRE Group represented Principal Real Estate Investors, the seller, in the transaction.
TAMPA, FLA. — Interstate Hotels & Resorts and Waramaug Hospitality have completed a $9 million renovation of the 265-room Sheraton Tampa East Hotel, located at 10221 Princess Palm Ave. in Tampa. The renovation included upgrades to all guest rooms, the hotel's 30,000 square feet of meeting space and all public areas, including adapting the hotel's reception area to Sheraton's signature lobby, the Link@Sheraton experience. Additional amenities include Panfilio's Bar and Grille, a fully renovated, full-service restaurant, as well as the Sheraton Club Lounge, an outdoor heated pool, tennis courts and an upgraded fitness facility.
ROSWELL, GA. — The 127,342-square-foot Roswell Summit, an office building located at 1080 Holcomb Bridge Road in Roswell, has sold for $4.85 million. The property is 50 percent leased. The buyer plans to invest in interior and exterior upgrades. Sean Williams of Bull Realty represented Emcade Acquisitions, the buyer, in the transaction. Kevin Markwordt of Transwestern represented the seller, CSMC 2006-C5 Holcomb Office LP.