HOLLYWOOD, FLA. — Moss Miller, a joint venture between Fort Lauderdale, Fla.-based Moss & Associates and Miller Construction Co., has topped out construction for the $34 million, 86,000-square-foot Center of Excellence for Coral Reef Ecosystems Science Research Facility at Nova Southeastern University in Hollywood. The project is built to meet LEED Silver certification and is scheduled for completion in early 2012.
LAKE WORTH, FLA. — ARA has arranged the $9.3 million sale of the 218-unit Esperanza Apartments, located in Lake Worth. Avery Klann and Hampton Beebe of ARA's Boca Raton, Fla., office represented the Chicago-based Wateron Associates, the seller, in the transaction. Newton, Mass.-based Robbins Property Associates was the buyer.
ATLANTA — The law firm of Morris, Manning & Martin has renewed its 125,000-square-foot lease extension at the 900,000-square-foot Atlanta Financial Center. The lease keeps the firm's headquarters in Buckhead while expanding its space by 11,000 square feet. Jones Lang LaSalle, which represented Morris, Manning & Martin LLP, had been negotiating a lease on behalf of the firm at the Campanile office tower in Midtown. However, the firm decided to renew negotiations for space at the Atlanta Financial Center after lease negotiations with Campanile landlord Dewberry Capital Corp. reached an impasse. The firm's offices have been located at the Atlanta Financial Center since 1987. Its staff has expanded from 26 to more than 350 employees in that span.
MIAMI — CB Richard Ellis has arranged the $1.27 million sale of an 8,885-square-foot industrial building located at 10825 NW 33rd St. in Miami from A DE Q Holdings to High Property Group. Ronald Marrero and David Albert, of CBRE's Miami office, and The Katsikos Group represented the buyer and Flagler Real Estate represented the seller.
NORTH LAUDERDALE, FLA. — Atlanta-based ARA has arranged the $26.4 million sale of the 224-unit Lakeview Cove, located on Cypress Creek Road in North Lauderdale. Hampton Beebe and Avery Klann of ARA represented New York City-based Lexin Capital, the seller. Chicago-based Waterton Associates was the buyer. The acquisition was financed with Fannie Mae debt through ARA's debt platform, ARA Finance.
JACKSONVILLE, FLA. — Jacksonville-based Grubb & Ellis | Phoenix has arranged a 213,000-square-foot lease at 12759 Gran Bay Pkwy. in Jacksonville on behalf of Saddle Creek Corp. John Richardson and Bryan Bartlett of Grubb & Ellis | Phoenix represented Cabot Properties, the landlord, and Ladson Montgomery of the same firm represented the tenant.
SURFSIDE BEACH, S.C. — HREC Investment Advisors has brokered the sale of the Holiday Inn located in Surfside Beach. The hotel features 133 guest rooms as well as 2,500 square feet of meeting space, a business center, a fitness center, a restaurant and lounge, and an outdoor swimming pool with a tiki bar. Scott Stephens of HREC's Tampa, Fla., office and Monty Levy of the firm's Atlanta office represented the seller, Lodgian Hotels Fixed IV LLC. The buyer was Guardian Group. The hotel will be managed by Hostmark Hospitality Group.
WEST PALM BEACH, FLA. — Fort Lauderdale, Fla.-based Berger Commercial Realty Corp. has brokered the $6.76 million sale of a 21.49-acre multifamily parcel located at 715 Hank Aaron Dr. in West Palm Beach. BankFirst of South Dakota took the title to the land in August 2009 after winning a $44.8 million foreclosure against Hallandale Beach-based developer SWP Palm Beach. The property was approved for 620 condominiums, 57 townhouses and 20,000 square feet of retail but construction never began. Reese Stigliano of Berger represented the seller, BankFirst of South Dakota. The Buyer was West Palm Beach-based Aaron Drive Holdings. Development plans and a timetable for construction are unknown.
FORT MYERS, FLA. — CB Richard Ellis has brokered the $2 million sale of 44 condo units and 11 acres of excess development land in the Villas of Venezia, located at 4101 Metro Pkwy. in Fort Myers. Jonathan Richards of CB Richard Ellis' Naples, Fla., office represented Larkspur Acquisitions, the buyer, and Juan Munoz of KW Property Management represented CRE Properties, the seller.
BALTIMORE — Harbor Group International (HGI) has purchased a six-property multifamily portfolio in Baltimore from Sawyer Realty Holdings for $190 million. The portfolio includes: the 808-unit Crosswinds at Rolling Road, the 92-unit Diamond Ridge, the 270-unit The Glens at Rolling Road, the 264-unit Granite Run, the 280-unit Rolling Wind and the 270-unit Stratton Meadows. HGI will invest $7.75 million in capital improvements. Al Cissel and Scott Melnick of Jones Lang LaSalle's Bethesda, Md., office represented the seller in the transaction.