FLORENCE, S.C. — Farmington, Conn.-based Otis Elevator has purchased the 423,581-square-foot Florence Industrial Center, located at 1500 Range Way in Florence, from Hackman Capital for an undisclosed price. John Ticon and Edward Kercher of Cushman & Wakefield's Charleston, S.C., office represented the buyer in the transaction. Randy Stump of Charlotte, N.C.-based The Stump Corp. represented the seller.
DECATUR, GA. — The 10,125-square-foot CVS/pharmacy, located at 4037 Glenwood Rd. in Decatur, has sold for $2.57 million. CVS/pharmacy has a 20-year lease on the property with approximately 8.5 years of the original term remaining. Dan Cooper of Cleveland-based The Cooper Commercial Investment Group represented the seller, a private East coast company, and procured the buyer, a Texas-based private group.
ORLANDO, FLA. — Steven Rock of Marcus & Millichap's New York City office has closed a 3-year, $42 million refinance loan for the 1,100-room Double Tree by Hilton — Orlando SeaWorld, located on International Drive in Orlando. Rock secured the financing through an investment fund.
RALEIGH, N.C. — Frank Relihan of NorthMarq Capital's Washington, D.C., office has arranged $14 million in acquisition financing for the 518-bed University Suites, an off-campus student housing property located at 2190 Ocean Reef Pl. in Raleigh. The property is near North Carolina State University. The 10-year loan has a 30-year amortization schedule and was provided by AmeriSphere Multifamily Finance.
CHARLOTTE — Compass Group USA, Inc. has renewed and expanded its lease for 214,507 square feet inside Coliseum Centre, a six building Class A office property in Charlotte. The original lease, originated in 1994, was for 47,450 square feet. The 12.5-year lease was for office space in Coliseum Centre One and Two. Jessica Brown, Anne Vulcano and Kathleen Cannon of CB Richard Ellis' Charlotte office represented the landlord in the transaction. Steve Schneider, Daniel Nack and Vern Anderson of UGL Equis represented the tenant.
LAFAYETTE, LA. — The 200-bed hospital and 104,000-square-foot medical office building Our Lady of Lourdes Medical Center, located at 4801 Ambassador Caffery Pkwy. in Lafayette, has opened. The development is Phase I of HOK's master planned 45-acre campus. In addition to the 200 beds, the 396,000-square-foot hospital contains eight operating rooms, 19 emergency rooms and 24 intensive care rooms. Lafayette-based The Lemoine Co. and Birmingham, Ala.-based Brasfield & Gorrie served as the construction managers for the project and Jefferson, Ind.-based The Estopinal Group was the architect for the medical office building.
RICHMOND, VA. — Harbor Group International (HGI) has sold the 300-unit Sundance Station Apartments, located at 3500 Sundance Way in Richmond, to TGM Realty Advisors for $25.75 million. The property is currently 94 percent leased. Cushman & Wakefield of Virginia represented the seller in the transaction.
TALLAHASSEE, FLA. — A joint venture between Cousins Properties Incorporated, Watkins Retail Group and New Horizon Retail Development has started construction on the $25 million, 150,000-square-foot Mahan Village, located at the intersection of Capital Circle and Mahan Drive in Tallahassee. A 45,600-square-foot Publix — scheduled to open November 2012 — and a 67,664-square-foot Academy Sports & Outdoors — scheduled to open October 2012 — will anchor the center, which is 79 percent preleased.
BOCA RATON, FLA. — CB Richard Ellis (CBRE) has negotiated the $18.5 million sale of the 68,9760-square-foot Palms Plaza, a shopping center located at 22191 Powerline Rd. in Boca Raton. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE's Miami office represented Greensboro, N.C.-based Bell Partners, the seller, in the transaction. The buyer was North American Development Group.
BATON ROUGE, LA. — Deutsche Bank Berkshire Mortgage (DBBM) has arranged a $28.5 million, Freddie Mac CME loan to refinance the 352-unit Evergreen at Coursey Place Apartments, located 13675 Coursey Blvd. in Baton Rouge. The 10-year loan has a 30-year amortization schedule.