Southeast

SIX-PROPERTY OFFICE PORTFOLIO SELLS

by admin January 26, 2012

RALEIGH AND CARY, N.C. — A six-building office portfolio, located in Raleigh and Cary, has sold. The assets include 5540 & 5565 Centerview Dr., 801 Jones Franklin Rd. and 5520 Capital Center Dr. in west Raleigh; 6501 Weston Pkwy. in Cary; and 1616 Millbrook Rd. in north Raleigh. David Finger and Scot Humphrey of Cassidy Turley's Raleigh office, along with Rob Cochran of the firm's Charlotte, N.C., office, and Jud Ryan, Paul Collins and Drew Flood of the firm's Washington, D.C., office represented Duke Realty, the seller, in the transaction. The buyer was Archon Acquisition.

January 26, 2012

PARTNERS TO DEVELOP $27M STUDENT HOUSING

by admin January 26, 2012

STATESBORO, GA. — Charlotte, N.C.-based CampusWorks and Raleigh, N.C.-based The Preiss Co. have purchased the 200-unit Varsity Apartments, located at 111 Rucker Ln. #40 in Statesboro, from a Jacksonville, Fla.-based private group for $3.25 million. The property will be razed for the development of a $27 million, 692-bed student housing facility. The development is located across from Georgia Southern University. Construction will begin in spring 2012, with completion slated for fall 2013. Amenities will include an indoor basketball court and a resort-style swimming pool. Hilton Head, S.C.-based Coastal Apartment Advisors represented the seller in the transaction.

January 26, 2012

Multifamily Southeast

M&M BROKERS $2.7M MULTIFAMILY SALE

by admin January 26, 2012

NAPLES, FLA. — Marcus & Millichap has arranged the $2.7 million sale of the 53-unit Oceans 52, an apartment complex located at 4058 Bay Shore Dr. in Naples. William Berthiaume, II, Still Hunter, III, and Evan Kristol of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a Jupiter, Fla.-based private investor, in the transaction. Alex Zylberglait and Ryan Shaw of the firm's Miami office represented the buyer, a Miami-based private investor.

January 26, 2012

Retail Southeast

AZTEC GROUP SECURES $5M RETAIL LOAN

by admin January 26, 2012

PINECREST AND KENDALL, FLA. — Miami-based Aztec Group has secured two 10-year, refinance loans totaling $4.65 million for two shopping centers, located in suburban Miami, on behalf of the borrower, an affiliate of the Suchman Retail Group. The shopping centers include the 32,665-square-foot Dadeland North Shopping Center, located at the intersection of South Dixie Highway and Ludlam Road in Pinecrest, and the 42,700-square-foot Snapper Creek Shopping Center, located at the intersection of Southwest 72nd Street and Southwest 117th Avenue in Kendall. Jason Shapiro and Kevin Miliffe of Aztec Group arranged the non-recourse, fixed-rate loans.

January 26, 2012

Civic Southeast

SCHENKELSHULTZ COMPLETES $50M H.S. PROJECT

by admin January 25, 2012

ORLANDO, FLA. — SchenkelShultz Architecture has finished the $50 million, 380,570-square-foot replacement Maynard Evans High School, located in Orlando. The facility includes three, 3-story classroom buildings with 2,400 student stations, a media center, gymnasium, auditorium, a medical health and dental clinic, an interactive child development lab and an agriculture lab. Orlando-based The Williams Co. was the construction manager for the project.

January 25, 2012

Industrial Southeast

AMAZON TO BUILD 1 MILLION SF FACILITY

by admin January 25, 2012

SPARTANBURG COUNTY, S.C. -— Seattle-based Amazon.com has plans to open a new 1 million-square-foot fulfillment center in Spartanburg County, located on a site near John Dodd Road. Amazon opened its first South Carolina fulfillment center last year in Lexington County's Saxe Gotha Industrial Park. Hiring for the new fulfillment center will begin later this year and the facility is expected to be operational this fall.

January 25, 2012

Multifamily Southeast

JV FORMS TO DEVELOP $30M APT. COMPLEX

by admin January 25, 2012

CHARLOTTE, N.C. — A joint venture has formed between Global Growth Trust and Woodfield Investments to develop a $30 million, 297-unit, garden-style apartment complex in Charlotte. The partnership expects to close on 13-acres of land to develop the property within the next 30 days. Amenities will include a club room, cyber cafe, fitness center and resort style pool. Global Growth Trust is sponsored by CNL Financial Group and advised by CNL Global Growth Advisors.

January 25, 2012

Multifamily Southeast

KAUFMAN REALTY GROUP BUYS CIMARRON RIDGE APTS.

by admin January 25, 2012

MOBILE, ALA. — Atlanta-based Kaufman Realty Group has purchased the 248-unit Cimarron Ridge Apartments, located at 6427 Grelot Rd. in Mobile, from Nashville, Tenn.-based Carter-Haston for $12.37 million. Stephen Ankenbrandt of Birmingham, Ala.-based Rock Apartment Advisors represented the seller in the transaction.

January 25, 2012

Industrial Southeast

THE PARTS HOUSE SIGNS 49,000 SF WAREHOUSE LEASE

by admin January 25, 2012

PINELLAS PARK, FLA. — The Parts House has signed a 49,000-square-foot warehouse lease, located at 6868 118th Ave. N. in Pinellas Park. Scott Clendening of St. Petersburg, Fla.-based Commercial Realty Partners represented Mosk Development Group, the landlord, in the lease transaction.

January 25, 2012

Multifamily Southeast

JV FORMS TO DEVELOP $37M N.C. APTS

by admin January 24, 2012

RALEIGH, N.C. — Clarion Partners has formed a joint venture with The Residential Group to build the $37 million, 291-unit The Crest at Brier Creek, located at the intersection of U.S. 70 and Interstate 540 in Raleigh. Amenities will include a clubhouse, fitness center, pool and grill area. Site work began this month and completion is slated for June 2013.

January 24, 2012

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