ST. AUGUSTINE, FLA., AND CHARLOTTE, N.C. — Terry Marks of National New Lease Realty's New Hope, Penn., office has brokered the sale of three absolute net-leased CVS/pharmacy properties totaling 38,000 square feet for $12.1 million. Two of the stores are located in St. Augustine and one is in Charlotte. The stores are leased to CVS/pharmacy through 2034. Marks represented the seller, a Southern California LLC, and procured the buyer, Cole Real Estate Investments.
FREDERICKSBURG, VA. — Greg Duvall of NorthMarq Capital's Kansas City, Kan., office has arranged first-mortgage financing of $15 million for the 200-unit Greens of Salem Run, located at 5600 Salem Run Blvd. in Fredericksburg. The 10-year financing has a 30-year amortization schedule and was secured through AmeriSphere Family Finance, a Fannie Mae DUS Lender.
MIAMI — Cushman & Wakefield has negotiated a 142,000-square-foot industrial lease at Dolphin Distribution Center, located at 3301 NW 107th St. in Miami, on behalf of AMB Property Corp. Brian Smith, Wayne Ramoski and Audley Bosch of Cushman & Wakefield's Miami office represented the landlord in the transaction. Mike Silver and Allen Lindow of CB Richard Ellis represented the tenant, Atlas Paper Mills. Atlas Paper Mills currently has a lease at AMB Blackfin Distribution Center, another AMB Property Corp. location, which expires in 2012.
BESSEMER, ALA. — Dollar General has broken ground on its 10th distribution center, to be located on more than 100 acres at 4101 Lakeshore Pkwy. in Bessemer. The $100 million facility will serve more than 1,000 stores in the Southeast when it opens in early 2012. Leo A. Daly is the architect on the project and Clayco is the general contractor.
JOHNSON CITY, TENN. — Marcus & Millichap has brokered the sale of a 60,600-square-foot, four-story medical office building, located at 701 Med Tech Pkwy. in Johnson City, for $16.1 million. Anthony Lunceford of the firm's Nashville, Tenn., office represented the sellers and Joseph Massa, also in Nashville, represented the buyer, a regional private equity firm. Tenants include the East Tennessee Ambulatory Surgical Center, East Tennessee Brain & Spine and John Lawson Surgical.
WINTER HAVEN, FLA. — CB Richard Ellis has arranged the sale of the 460-unit Berkshires at Winter Haven, located in Winter Haven, for $12.2 million. The property, which was 90 percent leased at closing, features two pools, a fitness center and tennis courts. Shelton Granade and Luke Wickham of CB Richard Ellis' Central Florida Multi-Housing Group represented the seller in the transaction. Robbins Property Associates was the buyer.
MOUNT PLEASANT, S.C. — Grandbridge Real Estate Capital has closed a $26.8 million first-mortgage loan for Gregorie Ferry Landing Apartments, a proposed 240-unit property located in Mount Pleasant. The 40-year construction and development loan has a 40-year amortization schedule. The loan was funded through FHA's 221(d)(4) loan product and was originated by Mike Ortlip and Josh Davis of Grandbridge's Charlotte, N.C., office. The complex is part of a planned 23-acre, mixed-use development.
OCEAN CITY, MD. — NorthMarq has secured $19 million in first-mortgage financing for the 197,000-square-foot White Marlin Mall, located at 12641 Ocean Gateway in Ocean City. Bill Libercci of NortMarq's Baltimore office arranged the financing on behalf of the borrowers, a joint venture between Greenberg Gibbons and Prudential Real Estate Investors, through Goldman Sachs Commercial Mortgage Capital — CMBS.
NORTH CHARLESTON, S.C. — The Clemson University Restoration Institute has finalized the contracts for the design and construction of a $98 million wind turbine drivetrain testing facility in North Charleston. Once complete at the end of 2012, the project will be the largest facility of its kind in the world. Choate Construction Co. will provide construction management services for the project and AEC Engineering will provide architectural and engineering services. AEC is subcontracting with local architecture and engineering firm Davis & Floyd. The testing facility will be constructed within Building 69, a 92,264-square-foot warehouse formerly used by the Navy that was decommissioned in 1995. The project is being funded partly by a $45 million U.S. Department of Energy grant — the largest single grant every received by Clemson University. The remaining $53 million will come from public and private sources.
BALTIMORE — BCP Investors, a development partnership between Doug Schmidt and Neil Tucker of Chesapeake Real Estate Group and David Strouse of Birchwood Capital Partners, has acquired a 31-acre parcel of land located in the Canton section of Baltimore from Exxon Mobile Corp. BCP Investors plans to break ground on a two-phase retail center next year. Phase one will include 275,000 square feet of retail space, and phase two will include 100,000 square feet of retail space, to be developed once Exxon fully vacates the eastern portion of the site. Doug Kaufman of Grubb & Ellis' Baltimore office represented the buyer in the transaction. Chesapeake Real Estate Group will handle leasing for the project.