MECHANICSVILLE, VA. — The 112,000-square-foot Brandy Hill Plaza, a retail and office property located at 7053-7095 Mechanicsville Tpke. in Mechanicsville, has been sold on Auction.com for $3.3 million. 7055 Brandy Hill Plaza Associates purchased the note on the center as a deed in lieu of foreclosure and will retain the center as an investment. Richard Thalhimer of Cushman & Wakefield/Thalhimer's Richmond, Va., office represented the buyer in the transaction.
ALTAMONTE SPRINGS, FLA. — Marcus & Millichap has brokered the $2.97 million sale of a 3,578-square-foot, net-leased Chase Bank, located at 971 N. State Rd. 434 in Altamonte Springs. The property is in a Publix-anchored shopping center. Ray Turchi and Chris Travis of Marcus & Millichap's Orlando office represented the seller, a private investor, in the transaction. Judson Kauffman and Glen Kunofsky of the firm's Manhattan office represented the seller in the transaction.
MURFREESBORO,TENN. — A 10,125-square-foot CVS/pharmacy, located at 607 SE Broad St. in Murfreesboro, has been sold for $2.96 million. CVS is on a 20-year, triple-net lease. Dan Cooper of Cleveland-based The Cooper Group arranged the sale on behalf of the seller, a New York-based private company, in the transaction and procured the buyer, a Texas-based private group.
ROANOKE, VA. — Delta Dental has purchased the 53,800-square-foot Verizon office building, located at 5415 Airport Rd. in Roanoke, for $1.9 million. Dennis Cronk and Matt Huff of Roanoke-based Poe & Cronk Real Estate Group represented the buyer in the transaction.
TAMARAC AND FORT LAUDERDALE, FLA. —A four-property industrial portfolio, located in Tamarac and Fort Lauderdale, has sold for $18.9 million. The properties include the 125,000-square-foot Tamarac Business Center, located at 6701 Nob Hill Rd. in Tamarac; the 49,100-square-foot Tamarac Commerce Center, located at 6501 Nob Hill Rd. in Tamarac; the 10,000-square-foot Sunny Morning Foods, located at 5330 NW 35th Ave. in Fort Lauderdale; and the 24,490-square-foot Sun Sentinel Building, located at 3585 Nw 54th St. in Fort Lauderdale. Malcolm Butters of Coconut Creek, Fla.-based Butters Realty & Management, along with Douglas Mandel of Marcus & Millichap's Fort Lauderdale office, represented the seller, an affiliate of the Butters family, in the transaction. The buyer was Denver-based Industrial Income Trust.
BOCA RATON, FLA. — Broken Sound Club has planned the $13.2 million, Phase II expansion of its 100,000-square-foot country club, located at 2401 Willow Springs Dr. in Boca Raton. The $10.5 million first phase was completed last summer. Phase II will complete the Wellness Center and Spa Cafe, which includes the expansion of the current fitness center and spa and the addition of aerobics rooms, a spinning room with an interactive picture wall, a teen lounge and a cyber cafe. The Aquatic Center will double in size, and water features, bridges, a water park-style children's pool and environmentally-friendly geothermal pool heating will be added. Additionally, a new Bistro Grill will be added with indoor/outdoor seating for more than 150 people. Peacock + Lewis is designing the new facilities and the Weitz Co. is the general contractor. Work is slated to begin in May, with completion projected for November 2012.
ATLANTA — Cushman & Wakefield has arranged the $6 million sale of the 106,678-square-foot Falls Pointe, an office building located at 600 Morgan Falls Rd. in Atlanta. The property is fully leased to one tenant. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Parkway Properties, the seller, in the transaction. The buyer, Southeast Land Investments Partners, was self-represented.
PORT ST. LUCIE, FLA. — The 511-unit Storage West, a storage facility located at 525 SW S. Macedo Blvd. in Port St. Lucie, has sold for $3.1 million. Boyd Bradfield of NAI Southcoast's Stuart, Fla., office represented the seller, Storage West LLC, in the transaction and procured the buyer, Jacksonville, Fla.-based Storage West Group LLC.
RALEIGH, N.C. — Boston-based New Boston Fund has purchased the 99,181-square-foot Carolina Place, a five-story office building located at 2626 Glenwood Ave. in Raleigh, from a client advised by Invesco Real Estate. The property is currently 86 percent leased to tenants including Cherry, Bekaert and Holland and Scott Madden. Ben Kilgore of CBRE's Raleigh office represented the seller in the transaction.
PINEVILLE, LA. — Mount Pleasant, S.C.-based Humanities Foundation has broken ground on the $6.6 million, 56-unit Arbor Hill, an affordable seniors housing development located on Shamrock Drive in Pineville. Bank of America, Alliant Capital and the City of Pineville provided financing for the project. Pinkerton & Laws is the general contractor for the development, Miller & Martin is the architect and Monceaux Buller & Associates is the civil engineer. Completion is slated for December 2012.