POWHATAN, VA. — Wal-Mart has purchased 53.35 acres of land, located along Anderson Highway in Powhatan, for $3.3 million to build a new store. Lee Warfield, III, of Cushman & Wakefield/Thalhimer's Richmond, Va., office represented the buyer in the transaction. Clarence Hubbard of Powhatan-based Realco Properties represented the sellers, E.M. Ciejek and Outerbanks, LP.
WEST PALM BEACH, FLA. — A retail property including a freestanding McDonald's and a vacant 3,750-square-foot building, located at 9835-9847 Okeechobee Blvd. in West Palm Beach, has been sold for $2.6 million. William Strauss of CBRE's Boca Raton office represented Okeechobee 9847, the buyer, in the transaction. The seller, IBERIABANK, who had previously foreclosed on the property, was self-represented.
KNOXVILLE, TENN. — VERICOM Global Solutions has signed a 108,000-square-foot lease for the Woods Building, located in West Bridge Business Park at 2525 Quality Ln. in Knoxville. Bob Thornton of Knoxville-based Baker Realty Co. represented Woods Group, TN, the landlord, in the transaction. Drew Clemmons of Knoxville-based Connell Properties represented the tenant.
LEXINGTON, KY. —Kentucky Spirit Health Plan has leased 36,430 square feet of office space in Chase Tower, located at 201 E. Main St. in Lexington. Ernie Arnold of Lexington-based The Gibson Co. represented the tenant in the lease transaction. Paul Ray Smith and Anne Kilcoyne of Lexington-based NAI Issac represented the landlord.
GAINESVILLE, VA. — A 1.07-acre retail property, located at 4995 Wellington Rd. in Gainesville, has been sold for $2.54 million. The property is leased to a 5,753-square-foot Chili's on a long-term, triple-net basis. Rick Fernandez of Reston, Va.-based Calkain Cos. represented the buyer, a private investor, in the transaction.
LEXINGTON, KY. — Louisville, Ky.-based PRG Investments has arranged the $1.47 million sale of two multifamily properties, The Cardinal Crossing and Daniel Court Apartments, located at Versailles Road and Village Drive in Lexington. The properties total 156 units. Fred Sutterlin and Reed Weinberg of PRG Investments represented the seller, First Federal Savings Bank of Kentucky, in the transaction and procured the buyer, DF Investments.
BILOXI, MISS. — CBRE has arranged $23.4 million in refinancing for the 472-unit Arbor View 2, 3 & 4, a multifamily community located near Biloxi. Glenn Housman of CBRE's Orlando, Fla., office secured the 7-year loan on behalf of the borrower, Tallahassee, Fla.-based Arbor Properties.
YULEE, FLA. — NorthMarq Capital has arranged $18.45 million in permanent loan refinancing for the 240-unit Courtney Isle Apartments, located at 86015 Courtney Isles Way in Yulee. Joel Coykendall of NorthMarq's Jacksonville, Fla., office arranged the 5-year loan through Sentinel Asset Management as interest only for 36-months with a 30-year amortization schedule to follow.
OLIVE BRANCH, MISS. — General Electric has signed a 212,800-square-foot lease at Crossroads Distribution Center, Building A, located at 9124 Pole Ln. in Olive Branch. The company is relocating from a 60,000-square-foot space in DeSoto County. Lisa Harber of CBRE's Atlanta office, along with Patrick Burke of CBRE's Memphis, Tenn., office represented the tenant in the lease transaction. IDI, the landlord, was self-represented by Tim Moore.
MIAMI BEACH, FLA. — Jones Lang LaSalle has arranged the $95 million sale of the 263-room Courtyard Miami Beach Oceanfront, a hotel located at 3925 Collins Ave. in Miami Beach. Gregory Rumpel of Jones Lang LaSalle Hotels' Miami office represented Beta Epsilon Cadillac, the seller, in the transaction. The buyer was Hersha Hospitality Trust.