NORFOLK, VA. — Total Distribution, Inc., d/b/a Terminal Warehouse, Inc. leased 110,000 square feet of warehouse space at 3700 Village Ave. in Norfolk. Michael Myers of S.L. Nusbaum Realty Co.'s Norfolk office represented the landlord, Virginia Holding Corp. Broker information was not provided for Total Distribution. Terms of the lease were not disclosed.
Southeast
HERNDON, VA. — Washington Real Estate Investment Trust sold 180,000-square-foot Dulles Station West Phase I, located at 2300 Dulles Station Blvd. in Herndon, for $58.8 million to an undisclosed buyer. The building is 100 percent leased and includes tenants IBM and National Student Clearinghouse. Phase II is zoned for future development of a 340,000-square-foot office building and was not included in the transaction. Broker information was not released.
TALLAHASSEE, FLA. — The 277-unit Palms of Apalachee, located at 2855 Apalachee Pkwy. in Tallahassee, and 228-unit Palms of Magnolia, located at 1112 South Magnolia Dr. in Tallahassee, were sold for $6.7 million to Aspen Square Management. John W. Stone and Jason T. Stanton of Colliers International's Tampa Bay office and W. Hayes Swann and Huston Green of Colliers International's Atlanta office represented the seller. Palms of Magnolia's seller is Worthington Apartments Limited Partnership and Palms of Apalachee's seller is Las Palmas Apartments, each a Georgia Limited Partnership. The buyer was not represented in the transaction.
ORLANDO, FLA. — The 83,712-square-foot, Class A industrial building Cypress Lake V, located at 1611 Cypress Lake Dr. in Orlando, was sold to FAAST Leasing of Florida for $1.4 million. The undisclosed seller was represented by Drew Saphos, Paul Vera, Michael Heidrich, Christie Alexander and George Livingston, of Maitland, Fla.-based NAI Realvest negotiated the transaction. The buyer was represented by Nick Sands of Pizzuti's Orlando, Fla., office.
TAMPA, FLA. — A Fla.-based private investor sold the 32-unit, Class B garden apartment property Hyde Park Pointe in Tampa for $1.9 million, or $59,375 a unit, to an undisclosed limited liability company. Both parties were represented by Casey Babb and Luis Baez of Marcus & Millichap's Tampa office.
WASHINGTON, D.C. — Cassidy Turley arranged $172 million in senior and mezzanine bridge financing for the 385,765-square-foot trophy office building Republic Square I, located at 25 Massachusetts Ave. in Washington, D.C., on behalf of Republic Properties. The senior loan, originated by an undisclosed commercial bank, and the mezzanine loan, provided by a private equity fund, will serve to refinance the previous loan and to fund future leasing coasts. The building is currently 60 percent leased. If necessary, another 200,000 square feet can be added on an adjacent parcel, known as Republic Square II. David Webb, John Campanella and Jamie Butler of Cassidy Turley's Washington D.C. office structured the two-tiered debt transaction.
VIRGINIA BEACH, VA. — According to Inland Diversified Real Estate Trust's SEC filing, Mountain Ventures Virginia Beach has sold the 409,747-square-foot Landstown Commons Shopping Center in Virginia Beach for $91 million to Inland Diversified Real Estate Trust. At close, the shopping center was more than 94 percent leased to a total of 63 tenants, including Best Buy, PetSmart and Bed, Bath & Beyond. On the second floor of the shopping center is 32,890 square feet of office space, which is currently 90 percent leased to two medical users. Mark Cosenza of Inland Real Estate Acquisitions' Oak Brook office represented the buyer and the undisclosed seller was represented by CB Richard Ellis' Florida and Washington, D.C., groups.
TOWSON, MD. — LaSalle Investment Management has sold a 5-story, 121,491-square-foot Class A office building, located at 100 West Rd. in Towson, for $18.75 million to TA Associate Realty. The LEED Gold Certified building is 87 percent leased and includes a fitness center and cafe. Bo Cashman and Jonathan Beard of CB Richard Ellis' Baltimore, Md., office represented both parties in the transaction.
CLEARWATER, FLA. — The 299-unit, 306,361-square-foot Cielo at Bradenton Apartments, located at 6904 Manatee Ave., in Clearwater, was sold by Cielo Apartments to Aspen Square Management for $12 million. The lender-owned Cielo at Bradenton Apartments is currently 92 percent occupied. John W. Stone and Jason T. Stanton of Colliers International in Tampa Bay, Fla., office represented the seller in the all-cash transaction. Broker information for the buyer was not released.
BIRMINGHAM, ALA. — Downtown Storage of Birmingham, a 75,897-square-foot, 627 storage unit self-storage facility has sold for $2.5 million to Ala.-based Metro Mini Storage. The seller, a financial institution out of California, was represented by Michael A. Mele of Marcus & Millichap's National Self-Storage Group and Nicholas Walker of Marcus & Millichap's Ontario, Ca., office. The buyer was represented by Edwin Greenhalgh of Marcus & Millichap's Birmingham office.