OLIVE BRANCH, MISS. — IDI has arranged a 150,662-square-foot lease with Millstone Medical Outsourcing at the 3.2 million-square-foot Crossroads Distribution Center, located in Olive Branch. The company will occupy space in Building B, which is slated for completion in September. Michael Driscoll of Colliers International represented the tenant in the lease transaction. IDI, the landlord, was self-represented by Tim Moore.
Southeast
ORLANDO, FLA. — A joint venture between Novare Group, Batson-Cook Development Co. and Palmetto Realty Advisors has started construction on the $63 million, 320-unit SkyHouse Orlando, a multifamily high-rise located at Livingston Street and Magnolia Avenue in Orlando. Smallwood, Reynolds, Stewart, Stewart is the architect for the development, which is slated for completion in the third quarter of 2013.
GAINESVILLE, FLA. — Charles Perry Partners has been selected to construct the $30.3 million, 90,000-square-foot University of Florida Harrell Medical Education Building, located in Gainesville. The facility, which will be the medical school's first freestanding building, will serve as a focal point for integration and program development for all primary care educational activities in the College of Medicine. Groundbreaking on the four-story building is scheduled for spring 2013, with completion slated for October 2014.
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.
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.