Southeast

IDI BREAKS GROUND ON MITSUBISHI HQ

by admin February 1, 2012

SUWANEE, GA. — IDI has commenced construction on the 559,407-square-foot, build-to-suit Mitsubishi Electric Cooling & Heating headquarters, located in Huntcrest Business Center at 1340 Satellite Blvd. in Suwanee. The company will consolidate its current 350,000-square-foot footprint across three buildings to the facility. The property will be the corporate headquarters for Mitsubishi Electric's cooling and heating division and will include office and professional training space, as well as nearly half a million square feet of warehouse space. The company will move into the space in February 2013. Alan Clayton of Jones Lang LaSalle's Atlanta office represented the tenant in the lease transaction and the landlord was self-represented by Lisa Ward of IDI's Atlanta office.

February 1, 2012

WALGREENS SELLS FOR $6.5M

by admin February 1, 2012

DENVER, N.C. — A 12,144-square-foot freestanding Walgreens, located at the northwest corner of Highways 16 and 73 in Denver, a suburb of Charlotte, has been sold to South Florida-based Evans Denver Drugstore for $6.5 million. General Realty Partners represented Denver I Realty, an affiliate of Morgan Property Group, the seller, in the transaction. Denver I Realty acquired the property in 2011 and oversaw all construction and development activities for both on- and off-site improvements. Walgreens opened in the fourth quarter of 2011.

February 1, 2012

Multifamily Southeast

M&M BROKERS $1.4M APT. SALE

by admin February 1, 2012

GREENWOOD, S.C. — Marcus & Millichap has arranged the $1.4 million sale of the 100-unit Pinetree Apartments, located at 106 Barkwood Dr. in Greenwood. Mark Boyce of Marcus & Millichap's Charleston, S.C., office represented the buyer, a private individual, in the transaction. Andy Daitch of Marcus & Millichap's Detroit office represented the seller.

February 1, 2012

Industrial Southeast

PANATTONI TO DEVELOP 900,640 SF FACILITY

by admin January 31, 2012

MCDONOUGH, GA. — Panattoni Development Co. has been selected by Georgia-Pacific Consumer Products to develop a 900,640-square-foot, build-to-suit distribution center, located at 493 Westridge Rd. in McDonough. Completion is slated for fall 2012. Sean Boswell of Colliers International's Atlanta office represented the tenant in the lease negotiation.

January 31, 2012

Multifamily Southeast

ARA BROKERS MULTIFAMILY PORTFOLIO SALE

by admin January 31, 2012

DELRAY BEACH, FLA. — ARA has arranged the sale of a two-property multifamily portfolio, located in Delray Beach. The properties include the 149-unit The Fountains at Delray Beach, located at 14401 S. Military Trl., and the 148-unit Water's Edge, located at 500 N. Congress. Each property is currently 94.6 percent leased. Avery Klann, Hampton Beebe and Marc deBaptiste of ARA's Boca Raton, Fla., office represented the seller, Irving, Texas-based Archon Group, in the transaction. The buyer was Acumen Real Estate.

January 31, 2012

Industrial Southeast

MD. INDUSTRIAL BUILDING SELLS FOR $1.5M

by admin January 31, 2012

CAMBRIDGE, MD. — A 30,240-square-foot flex industrial building, located at 828 Fieldcrest Dr. in Cambridge, has been sold for $1.5 million. ABC Supply Co. formerly leased the building. Henry Hanna of Salisbury, Md.-based Sperry Van Ness-Miller Commercial Real Estate, represented the seller, the Maryland Economic Development Corp., in the transaction. The buyer was Triple Ventures.

January 31, 2012

Industrial Southeast

DAESIN ROBOT BUYS ALA. INDUSTRIAL PROPERTY

by admin January 31, 2012

OPELIKA, ALA. — Daesin Robot has completed the lease purchase of a 45,500-square-foot manufacturing building, located at 404 Fox Run Rd. in Opelika. David Barber of Binswanger's Atlanta office represented the seller, ATA Investments, in the transaction. Montgomery, Ala.-based Century 21 Brandy Wright Realty represented the buyer.

January 31, 2012

Multifamily Southeast

NORTHMARQ SECURES $29.4M MORTGAGE

by admin January 31, 2012

TUSCALOOSA, ALA. — NorthMarq Capital has arranged $29.4 million in refinancing for the 210-unit Woodlands of Tuscaloosa Phase II, located at 1100 Hargrove Rd. E. in Tuscaloosa. The student housing development is located near the University of Alabama. Bruce Foster of NorthMarq's Atlanta office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac.

January 31, 2012

Civic Southeast

SCAD BUYS CRITES HALL FOR $2.6M

by admin January 30, 2012

SAVANNAH, GA. — The Savannah College of Art and Design (SCAD) has purchased the 39,650-square-foot Crites Hall, located at 217 Martin Luther King Jr., Blvd. in Savannah, from GE Capital for $2.6 million. SCAD originally signed a 10-year lease for the building in December 2000. The buyer has invested more than $2 million in renovations. The building contains classrooms, lecture halls, dance rehearsal studios, a 150-seat theater, a set design shop, offices and conference rooms. Rex Benton and Dickey Mopper of Savannah-based NAI Savannah represented the seller in the transaction.

January 30, 2012

Industrial Southeast

FLA. INDUSTRIAL BUILDING SELLS FOR $2.25M

by admin January 30, 2012

ARCADIA, FLA. — A 41,242-square-foot industrial building, located at 6018 SW Hwy. 72 in Arcadia, has been sold for $2.25 million. Gary Tasman and Shawn Stoneburner of Fort Myers, Fla.-based Cushman & Wakefield, Commercial Property Southwest Florida, represented Banc of America Leasing, the seller, in the transaction. Mark Mizell of Mulberry, Fla.-based Land South Realty represented the buyer, Cumberland and Western, which will use the property to manufacture roofing tile.

January 30, 2012

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