LANDOVER, MD. — Cassidy Turley has negotiated the sale of a 137,000-square-foot, Class A office building, located at 8301 Professional Place in Landover. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller, Advance Realty Group. Washington, D.C.-based Persimmon Capital Partners was the buyer.
MADISON, MISS. — CBL & Associates Properties has started construction on the 83,000-square-foot Phase II of The Forum at Grandview, located on Interstate 55 in Madison. Anchors of Phase II include ULTA, Homegoods, Petco and a national arts and crafts retailer along with 14,000 square feet of specialty stores. Completion is slated for summer 2012.
ORLANDO, FLA. — Ann Arbor, Mich.-based McKinley has negotiated the acquisition of the 304-unit Oakwood Apartment Homes, located at 4708 Olive Branch Rd. in Orlando for $23.35 million. McKinley represented the buyer, Karlin Real Estate. Shelton Granade of CB Richard Ellis' Orlando office represented the seller, ConAm.
RICHMOND, VA. — The 19,276-square-foot Downtown Capital Ale House buildings, located at 619 and 623 E. Main St. in Richmond, have been purchased by Fezzer Holdings for $1.53 million. Bruce Bigger and Lee Warfield of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Super Duper Properties, in the transaction.
LEXINGTON, KY. — Red Mortgage Capital has closed and underwrote $6.79 million of non-recourse financing for two student housing properties owned by Campus Rental Properties. The complexes, which are located in central Lexington adjacent to the University of Kentucky, are the 96-unit University Village, Phase I and the 24-unit Woodland Village. Red Mortgage Capital, pursuant to Fannie Mae’s Dedicated Student Housing Program, underwrote the 10-year loan.
MEMPHIS, TENN. — Marcus & Millichap has negotiated the $8.5 million sale of the 217-unit Brentwood Place Apartments, located at 1835 Sycamore View Rd. in Memphis. Patrick Jordan of Marcus & Millichap's Memphis office represented both parties in the transaction, Memphis-based Grant Investments, the seller, and the buyer, Slidell, La.-based Southern Breeze, LLC.
LAVERGNE, TENN. — CB Richard Ellis has arranged the $3.6 million purchase of a 184,434-square-foot industrial building, located at 1045 Firestone Parkway in the Interchange City Industrial Park in LaVergne. Steve Preston and Douglass Johnson of CBRE's Nashville, Tenn., office represented the buyer, Wonton Foods. The seller was Texas-based Orix Capital Markets.
SALISBURY, MD., & WINCHESTER, VA. — H&R Retail has arranged two leases on behalf of Hobby Lobby: a 56,800-square-foot lease at North Point Plaza in Salisbury and a 55,793-square-foot lease at South Pleasant Valley Road in Winchester. David Ward and Ben Hoskins with H&R Retail's Baltimore office represented Hobby Lobby in both lease transactions. Jim Crilley of the firm's Bethesda, Md., office represented the landlord in the Salisbury transaction.
OCALA, FLA. — The Shopping Center Group has arranged two new leases for Bealls Outlet and Ross Dress for Less at the 222,000-square-foot Six Gun Plaza, located in East Ocala along Silver Springs Boulevard. Bealls Outlet signed a 7-year lease for 35,500 square feet and is expected to open this fall. Ross Dress for Less signed a 10-year lease for 32,000 square feet and is expected to open in 2012. Kevin Hipes of The Shopping Center Group's Orlando, Fla., office represented SouthEast Properties, the owner, in the lease transactions. John Dottore and Marc Sullivan of the same office represented Ross Dress For Less. Bealls was self-represented.
NORTH EAST, MD. — Atlanta-based Weeks Robinson has purchased Trade Center 95, a 600,000-square-foot warehouse and 32 acres of vacant land, located at 4000 Pulaski Hwy. in North East. The building contains a cross-dock with a 32-foot clear height and a large truck area. The pad-ready site will allow Weeks Robinson tot expand the building to more than 1.2 million square feet.