MOUNT PLEASANT, S.C. — A 14,500-square-foot, single tenant net-leased Walgreens, located at 2903 N. Hwy. 17 in Mount Pleasant, has been sold for $7.37 million. Randy Blankstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a Chicago-based 1031 exchange investor, in the transaction. The seller was a Southeast-based developer.
BESSEMER, ALA. — Birmingham, Ala.-based Southpace Properties has arranged the $2.6 million sale of the 72,600-square-foot Academy Business Park, a four-property industrial park located on Powder Plant Road in Bessemer. Rich Vanchina of Southpace Properties represented the seller, 2226 Academy, in the transaction. Michael Randman, also of Southpace Properties, represented the buyer, an investor.
TAMPA, FLA. — The 14,000-square-foot Dowling Mills Corporate Park, a former day care and office facility located at 7815 Gunn Hwy. in Tampa, has been sold for $1 million. Also included in the transaction was a separate vacant pad that can accommodate a building of up to 12,000 square feet. Bill Besselieu of Tampa-based Andretta Properties represented the seller, Regions Bank, in the transaction. The buyer was Thuzi Investments I.
FAIRFAX, VA. — Centerpointe I & II, located at 4000 and 4050 Legato Rd. in Fairfax, has been sold for $128.7 million. Thomas Properties Group and the California State Teachers Retirement Systems sold the two 11-story office buildings, totaling 421,859 square feet, to Carr Properties Income Trust and an institutional investment partner. Bill Prutting, Jr., William Kaye, Randall Heilig, Jeff Roman, Mike Pepper and John DiCamillo of CBRE's Washington, D.C., office represented the seller in the transaction.
ANDERSON, S.C. — Greenville, S.C.-based RealtyLink has sold the 167,341-square-foot Midtowne Park Shopping Center, located at 3520 Clemson Blvd. in Anderson, to Pheonix-based Cole Capital for $25.6 million. Tenants include Kohl's, Dick's Sporting Goods, Staples and ULTA. The seller was self-represented in the transaction by Tyson Glasser.
WHITE MARSH, MD. — Cushman & Wakefield has brokered the $16.25 million sale of the 218,532-square-foot White Marsh Commerce Center, located at 10001 Franklin Square Dr. in White Marsh. Included in the sale was a 13-acre development site that can accommodate an additional building of up to 220,000 square feet. The property is fully leased to C&J Graphics, Turn Key Office Installations and Creative Touch Interiors. Cristopher Abramson, Brian Kruger, Nicholas Signor, Michael Elardo and Christoper Wright of Cushman & Wakefield's Baltimore office represented the seller, Corporate Office Properties Trust, in the transaction and procured the buyer, Industrial Income Trust.
ROSWELL, GA. — The 62,000-square-foot Sweet Apple Village, an office and retail property located at 12030 Etris Rd. in Roswell, has sold for $6.25 million. Tenants include Menchies Frozen Yogurt and Kumon Math & Reading Center. Craig Taylor of CBRE's Atlanta office represented the seller, the REO department of BB&T Bank, in the transaction. Mount Pleasant, S.C.-based Ziff Properties, the buyer, was self-represented by Christian Chamblee and Shaun Payne.
ROCK HILL, S.C. — The 80-unit Quail Ridge, located at 2091 Dutchman Dr., and the 80-unit Country Club Arms, located at 1775 Cedar Post Ln., both in Rock Hill, have been sold to the same undisclosed buyer for $6.11 million. Juniper Investment Group sold Quail Ridge and B&B Holdings sold Country Club Arms. John Bergin, Brian Ford and Beau McIntosh of Charlotte, N.C.-based Capstone Apartment Partners represented both parties in the transaction.
WASHINGTON, D.C. — A joint venture between UDR and Kuwait Finance House (KFH) has acquired the 292-unit 1301 Thomas Circle, a 10-story multifamily property in Washington, D.C., for $154 million. The property is currently 94 percent leased. Amenities include a rooftop pool, outdoor kitchen, fitness center, clubhouse, private courtyard, business center and 24-hour concierge. Fannie Mae provided a $90 million interest-only loan for the acquisition, KFH provided $44.8 million and UDR provided $19.2 million.
MADISON, ALA. — GBT Realty Corp. has broken ground on the 122,000-square-foot Madison Corners, a mixed-use development located at the intersection of U.S. Highway 72 and Balch Road in Madison, adjacent to the Madison Medical Park. The property will include two medical office buildings totaling 100,000 square feet and a 22,000-square-foot retail component. Triad Properties Corp. has purchased 3.46 acres of the property to build the first medical office building, totaling 60,000 square feet, which is slated for completion in the fourth quarter of 2012. The retail space, which is pre-leased to tenants including Firehouse Subs, LawLer's Barbecue and Specialized Medical Devices, will be constructed in two buildings and will open in March of this year.