AUGUSTA, GA. — Dallas-based The MGHerring Group has broken ground on a new 142,000-square-foot Costco at the Village at Riverwatch, a shopping center under development at the intersection of Interstate 20 and River Watch Parkway in Augusta. The store will anchor the first phase of the center and is set to open in late 2011.
HANAHAN, S.C. — Continental Terminals has signed a lease for 101,705 square feet at 201 Luken Road in Hanahan. Hagood Morrison and Amanda Kitchen of Colliers International's Charleston, S.C., office represented the tenant. Bob Barrineau and Brendan Redeyoff of Charleston-based CB Richard Ellis Carmody represented the landlord.
ALEXANDRIA, VA. — The Alexandria City Council has approved plans for a $74 million development including a new 52,000-square-foot Harris Teeter and 175 apartments. The project is being developed by Gaithersburg, Md.-based Buchanan Partners, Bethesda, Md.-based The Pinkard Group and Theo Androus, and is backed by equity partner Bethesda-based Buvermo Properties. Groundbreaking is set for the first quarter of 2012.
GRIFFIN, GA. — Caterpillar, Inc. will make a major investment in its Griffin Engine Center in Griffin. The Peoria, Ill.-based company will create at least 200 jobs and invest $120 million in machinery, equipment and upgrades to the existing facility. The Caterpillar Griffin Engine Center assembles engines and generator sets for more than six different engine models.
ST. PETERSBURG, FLA. — Marcus & Millichap has arranged the sale of the 178-unit lender-owned Skyline Fifth Avenue, located at 441 33rd St. North in St. Petersburg, for $17.12 million. Frank Carriera and Michael Regan of the firm's Tampa office represented the seller and the buyer, a Canada-based investment group.
BONITA SPRINGS, FLA. — A 7,518-square-foot freestanding former Blockbuster, located at 26811 S. Tamiami Trail in Bonita Springs, has sold for $1.06 million. Karen Johnson-Crowther of Colliers International's Fort Myers, Fla., office represented the seller, Savannah Land Corp. RLR Investments for Royal Shell Properties, the buyer, was self-represented. The buyer plans to use the building as a residential real estate office.
ORANGE CITY, FLA. — Hobby Lobby has signed a 20-year lease with Forness Properties to build a 51,010-square-foot store in Saxon Crossing shopping center in Orange City. Michael Collard Properties will develop the Hobby Lobby, which is scheduled to open in 2012 on a two-acre, Phase II outparcel of the center. Additional tenants include an LA Fitness, Lowe's and Target. Forness represented the landlord, Saxon Crossing Partners, and Concordia Equity's Ron White and Paul Burkhart represented Hobby Lobby.
HOMESTEAD, FLA. — Kennedy Contractors will begin construction on a freestanding, 27,000-square-foot hhgregg at the 375,000-sqaure-foot Homestead Pavilion shopping center in July. The project, which is scheduled for an early 2012 opening, will complete Phase I of the development. Developers Diversified Realty develops and owns Homestead Pavilion, which is the largest retail center in Homestead.
JUPITER, FLA. — Fort Lauderdale, Fla.-based Moss & Associates has been selected to construct an 1,100-foot extension of the Riverwalk at Harbourside Place located at Indiantown Road and U.S. 1 in Jupiter. The pedestrian walkway along the Intracoastal Waterway will also include a new seawall and public dock system. Construction on the Riverwalk component of the $144 million, mixed-use Harbourside Place is scheduled to begin today with completion in March 2012. The developer on the project is West Palm Beach, Fla.-based Allied Capital & Development of South Florida and the architect is Gentile Holloway O'Mahoney & Associates. Moss & Associates is the general contractor, with Jupiter's Community Redevelopment Agency providing the funding.
WASHINGTON, D.C. — Cassidy Turley has arranged the $167.5 million sale of the 420,000-square-foot National Press Building in Washington, D.C. Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley’s Washington, D.C. office represented the seller, Press Building, LLC. Affiliates of AEW Capital Management and Quadrangle Development Corp. acquired the property. The buyers will manage and lease it.