LEXINGTON, N.C. — Save-A-Lot has opened a new 330,000-square-foot distribution center, located in Lexington Business Center at 133 Lexington Pkwy. in Lexington. Construction on the facility began in January. The new distribution center will help support the company's growth plans in North Carolina as well as surrounding states.
SAVANNAH, GA. — Mount Pleasant, S.C.-based Ziff Properties has purchased the 38,000-square-foot Berwick Marketplace, located at 5710 Ogeechee Rd. in Savannah. The sale price was undisclosed. Kroger shadow-anchors the center, which includes Fuddruckers, Pizza Hut, Subway and a UPS Store. The buyer was self-represented in the transaction by Christian Chamblee and Shaun Payne, as well as Maxwell Penn of Colliers International's Savannah office.
RICHMOND, VA. — Cleveland-based Cooper Group has arranged the $2.93 million sale of a 10,800-square-foot CVS/pharmacy, located at 5001 Forest Hill Ave. in Richmond. CVS is on a 20-year triple net lease with approximately 7.5 years of the original term remaining. Dan Cooper represented the seller, an East Coast-based private company, in the transaction and procured the buyer, a Texas-based private group.
COVINGTON, GA. — Marcus & Millichap has negotiated the $1.28 million sale of a 10,500-square-foot retail property, located at 340 Old Oxford Rd. in Covington. The property is net-leased to Sunbelt Rentals. Kevin Yaryan of Marcus & Millichap's Orlando, Fla., office, along with Al Savage and John Leonard of the firm's Atlanta office represented the seller, a private investor, in the transaction.
COLUMBIA, MD. – Cassidy Turley has brokered the $16.15 million sale of Hillside Center I & II, two office buildings totaling 86,189 square feet, located at 6310 & 6315 Hillside Ct. in Columbia. Jonathan Carpenter and Jay Wellschlager of Cassidy Turley's Baltimore office represented Corinthian Realty Partners, the seller, in the transaction. The buyer was First Potomac Realty Trust.
WEST PALM BEACH, FLA. — Marcus & Millichap has negotiated the $7.1 million sale of the 28,346-square-foot Century Village Medical Office, located at 100-110 Century Blvd. in West Palm Beach. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a Boca Raton, Fla.-based limited liability company, in the transaction and procured the buyer, a Pompano Beach, Fla.-based investor.
WYTHEVILLE, VA. — The 144-unit Northwinds Apartments, located at 2355 N. 4th St. in Wytheville, has been sold for $2.5 million. Alan Meetze and David Hudgins of Drucker & Falk's Newport News, Va., office represented the seller, Northwinds Apartments LP., in the transaction. The buyer was Northwinds Apartments LLC.
FREDERICKSBURG, VA. — Brava Enterprises has purchased the 22,200-square-foot RC Lee Carpet One building, located at 3711 Lafayette Blvd. in Fredericksburg, from RC Lee Property Acquisitions for $1.25 million. Jamie Scully and Mike Degen of Cushman & Wakefield/Thalhimer's Fredericksburg office represented both parties in the transaction.
TUSCALOOSA, ALA. — Walker & Dunlop has closed on $28 million in financing for the second phase of the 669-bed The Retreat at Lake Tamaha, a student housing community located in Tuscaloosa. The 8-year loan has a 30-year amortization schedule. The first phase of the property was financed approximately 2 years ago with a 10-year term and the new loan will be coterminous with the loan on the first phase. Tim Bradley of TSB Capital Advisors originated the loan on behalf of the borrower, Landmark Properties, and Will Baker of Walker & Dunlop's Bethesda, Md., office led the Walker & Dunlop team.
KISSIMMEE, FLA. — Los Angeles-based Cohen & Associates has purchased the 152-unit Tierra Vista Apartment Homes, located at 8700 Tierra Vista Cir. in Kissimmee, from Tierra Vista I LP. for $7.7 million. Amenities include a clubhouse, a swimming pool, a fitness center and a playground. Armand Tiberio, Dmitry Gourkine and Timothy Flint of Marcus & Millichap's Seattle office represented both parties in the transaction. Shlomi Ronen of Los Angeles-based Dekel Capital arranged financing for the property.