TAMPA — The 25-unit Merasol on Bayshore, a foreclosed multifamily property located at 6515 Bayshore Blvd. in Tampa, has sold for $1.04 million. Kevin Kelleher, Darron Kattan and Bob Goldfinger of Franklin Street represented both the seller, a regional bank, and the buyer, a private local investor, in the transaction. The property was acquired with neighborhood stabilization funds, and the buyer has planned an extensive renovation.
Southeast
BETHESDA, MD. — Silverspot has signed a 50,000-square-foot lease at the 1 million-square-foot Rock Spring Centre, a mixed-use development located along Old Georgtown Road and Rock Spring Drive in Bethesda. The Peterson Cos. and DRI Development Services plan to break ground this summer on the project, which will include 549,900 square feet of office space, 210,000 square feet of retail space, the 12-screen Silverspot movie theater, a 40,000-square-foot health club, a 200-room hotel and 161 residential units. Silverspot, which is slated for completion in spring 2014, will offer a full-service cafe and bar, lounge area and concession stand. Bill Miller and Alex Walker of Transwestern represented the development team in the transaction. Mathew Focht and Sierra Group represented the tenant.
GREER, S.C. — KBS Legacy Partners Apartment REIT has acquired the 240-unit Crescent Park, a Class A apartment complex located at 401 Elizabeth Sarah Blvd. in Greer, from Crescent Apartments LLC for $20.6 million. The property is 95 percent leased. Amenities include a resort-style pool, clubhouse, billiards room and fitness center.
ST. PETERSBURG, FLA. — ContraVest and Northwestern Mutual have entered into a partnership to develop the 330-unit Courtney at Bay Pines, a luxury apartment community located at 4652 Miramar Dr. in St. Petersburg. Amenities will include a multi-level internet cafe, health club, billiards and sports entertainment room, community lounge, pool with poolside gourmet kitchen, tot lot, dog park and car care detail center. ContraVest will provide general contracting and property management services for the project, which is slated for completion in May 2013.
COCONUT GROVE, FLA. — The 46,900-square-foot Grove Plaza, a vacant, seven-story office building located at 2900 SW 28th Terrace in Coconut Grove, has sold for $3.4 million. Helen Weissman and Suzanne Lopez of Brenner Real Estate Group represented the seller, 1st United Bank, in the transaction. Silvia Lorenzo and Chip Black of Esslinger-Wooten-Maxwell Realtors represented Valor Investments, the buyer.
WASHINGTON, D.C. — Farmers Restaurant Group (FRG) and North Dakota Farmers Union have selected Artisan Partners Construction Services to oversee construction of the 10,000-square-foot Farmers, Fishers & Bakers restaurant in Georgetown at Washington Harbour in Washington, D.C. The $2.5 million project involves the build out of the former restaurant, which was destroyed in a flood in April 2011. Construction is expected to begin this month with completion slated for late fall 2012.
MIAMI — Beech Street Capital has provided a $20.2 million Freddie Mac CME loan to refinance the 276-unit Horizons North Apartments, a garden-style complex located at 665 Ives Dairy Rd. in Miami. Joel Mazur of Beech Street's Chicago office secured the 7-year, fixed-rate loan with 2 years of interest-only payments.
MELBOURNE, FLA. — A joint venture between DeBartolo Development and Elco Landmark Residential has acquired the 208-unit Sunbreeze Apartments, a multifamily property located at 2395 Woodwind Trail in Melbourne. Amenities include a lakeside pool, Wi-Fi cafe, business center, fitness center, lakeside tennis court, sports court, fitness center and 24-hour clothes care center. The joint venture has rebranded the property as Landmark at Waverly Place and plans to complete more than $1 million in improvements during the next 18 months.
WINSTON-SALEM, N.C. — A 10,125-square-foot CVS/pharmacy, located in Winston-Salem, has sold for $3.75 million. CVS/pharmacy has a 22-year lease, which expires in 2023, on the property. Berkley Capital Advisors represented the seller, a local developer, in the transaction. National Net Lease Realty represented the buyer, a Pennsylvania-based private investor.
HATTIESBURG, MISS. — The 45,927-square-foot T.J. Maxx and Shops at Turtle Creek, a neighborhood shopping center located at 5024-5040 Hardy St. in Hattiesburg, has sold. T.J. Maxx anchors the center, which is 93 percent leased to tenants that include H&R Block, APM Subs, Pizza Inn, Oreck and Sweet Peppers. The Mansour Group of Marcus & Millichap represented the seller, a Texas-based private investment group, in the transaction.