JACKSONVILLE, FLA. — Inland Real Estate Acquisitions has purchased the 40,207-square-foot The Shops at Julington Creek, located at 12807 San Jose Blvd. in Jacksonville, for $8.8 million. The Fresh Market anchors the center, and additional tenants include Hurricane Grill & Wings, Metro Diner and Sprint. The buyer was self-represented in the transaction by Mark Consenza.
Southeast
PORT RICHEY, FLA. — A partnership between Deerfield Beach, Fla.-based Konover South and Miami Beach, Fla.-based Argate Properties has plans to retrofit a 100,000-square-foot building, located on U.S. Highway 19 in Port Richey. The $4.5 million project will include a 65,000-square-foot Burlington Coat Factory and a 25,000-square-foot hhgregg. Completion is slated for October 1 of this year.
VIRGINIA BEACH, VA. — Olympia Development Corp. plans to invest $2.92 million in capital improvements at a 126,000-square-foot office building, located at 5701 Cleveland St. in Virginia Beach. Additionally, AMSEC has signed a 10-year, 63,000-square-foot lease to occupy half of the building for its corporate headquarters.
NAPLES, FLA. — The 12,500-square-foot former Gates McVey office building, located at 12810 Tamiami Trail N. in Naples, has sold for $2.02 million. Dave Wallace of CRE Consultants represented the buyer, Ferrari Partners LP., in the transaction. The seller was Fifth Third Bank.
DAYTONA BEACH, FLA. — NorthMarq Capital has arranged $3.56 million in first mortgage refinancing for the 122-room Residence Inn by Marriott, a limited service hotel located at 1725 Richard Petty Blvd. in Daytona Beach. Robert Hernandez of NorthMarq's Tampa office arranged the 10-year loan with a 25-year amortization schedule on behalf of the borrower, Oceanside Two LLC, through a CMBS lender.
SARASOTA, FLA. — Institutional Property Advisors has arranged the $13.5 million sale of the 178-unit Tradition at Palm Aire, a multifamily property located at 8445 Gardens Way in Sarasota. Amenities include a two-story clubhouse, business center with Wi-Fi, fitness center, three swimming pools, spa, lighted tennis courts, two lakes with walking paths and a car care center. Jamie May of IPA represented Beachwold Residential, the seller, in the transaction. Preston Giuliano Capital Partners was the buyer.
JACKSON, MISS. — DHS Ventures has acquired a 62,322-square-foot former Brookshire's Grocery, located in Jackson, for $1.7 million. Josh Burmeister and Buff Teague of SRS Real Estate Partners represented the buyer in the transaction.
WELLINGTON, FLA. — The 9,700-square-foot Plaza Two at Wellington Green, an office building located at 2515 State Rd. 7 in Wellington, has sold for $1.5 million. Dan Casey of Reichel Realty represented US Acquisition Property XVI, the seller, in the transaction. Saler Partners was the buyer.
NEW ORLEANS — Meridian Capital Group has secured $70 million in mortgage financing for the 1.3 million-square-foot Place St. Charles, a Class A office building located at 201 St. Charles Ave. in New Orleans. The 52-story building is 95 percent leased to tenants including JPMorgan Chase and Capital One. Tal Bar-Or of Meridian Capital Group arranged the 20-year loan with a 25-year amortization schedule through Cornerstone Real Estate Advisers.
DALE CITY, VA., AND CHARLESTON, S.C. — Bryson Thomason of Q10/Professional Mortgage Co. has arranged two retail loans, totaling $9.05 million. Thomason arranged a $5.55 million, 12-year, fully amortized loan for the 53,561-square-foot Staples Mill Plaza, a Food Lion-anchored neighborhood shopping center located on Minnieville Road in Dale City. Additionally, he negotiated a $3.5 million, 13-year, fully amortized loan for the 56,200-square-foot Citadel Crossing, a Food Lion-anchored shopping center located on Ashley Town Center Drive in Charleston.