MIAMI — DCT Industrial Trust has acquired 8551 N.W. 30th Terrace in Miami's Airport West submarket. The 100,000-square-foot distribution building was purchased for $7.5 million or $75 per square foot. Constructed in 1994, the building is a rear-load, highly-functionaly distribution facility that can be configured for up to three tenants. The seller was not released.
ALEXANDRIA, LA. — Walker & Dunlop has provided an $11 million loan secured by MacArthur Village shopping center in Alexandria. The 177,646-square-foot retail center is occupied by Kroger Signature Foodstore, Staples, Texas Roadhouse and Capital One. The loan was structured with a 10-year term and a 30-year amortization. Andrew Coleman and Stephen Farnsworth led the Walker & Dunlop team in the transaction. The borrower was Stirling Properties.
MIAMI LAKES, FLA. — Aztec Group has closed on a $20.7 million permanent loan for Courtyards at Miami Lakes Apartments in Miami Lakes. Located along Cow Pen Road, the 448-unit property was 95 percent occupied at the time of closing. The 10-year loan was funded by Fannie Mae.
ASHBURN, VA. — Walker & Dunlop has provided a $70.2 million loan, which is insured under the U.S. Department of Housing and Urban Development's Section 220 program. The loan is for the Residences at Loudoun Station, a residential and commercial property located at the proposed Loudoun Station in Ashburn. The project will include 357 residential units and 61,575 square feet of commercial space in three buildings. Construction is under way and completion is scheduled for July 2012. The loan was structured with a 90 percent loan-to-cost and will convert into a 40-year fully amortizing mortgage after construction is complete. The borrower is Comstock Partners LLC. The loan was sourced by Cushman & Wakefield Sonnenblick Goldman.
CAPE CORAL, FLA. — Plaza Advisors represented an undisclosed seller in the disposition of a Walgreen's location in Cape Coral. Located at the intersection of Pine Island and Burnt Store roads, the 14,820-square-foot retail property sold for $5.15 million. Anthony Blanco, Jim Michalak and Lenard Williams of Plaza Advisors represented the seller; Cassidy Turley BRE Commercial represented the buyer, a private individual, in the transaction.
CLEARWATER, FLA. — Espacio USA is developing The Strand, a mixed-use condominium project in downtown Clearwater. Located at 1101 Cleveland St., the property will offer 89 residential units and 21,500 square feet of customizable retail and office space. The commercial space is available in 12 individual units, ranging in size from 500 to 2,686 square feet. The Strand is slated to open in 2012.
KENNESAW, GA. — Choate Construction Co. has been selected to construct a laboratory science center on Kennesaw State University's (KSU) campus in Kennesaw. The 74,203-square-foot building will be situated between the existing Science and Mathematics building and the Clendnin Building. The property will offer chemistry, biotech and biochemistry teaching labs, facility offices, administrative space, support spaces and a multi-story atrium. Perkins+Will is designing the facility to achieve LEED Gold certification. Green elements will include room occupancy sensors and sun shades.
ALEXANDRIA, VA. — Gaithersburg, Md.-based Buchanan Partners has partnered with Bethesda, Md.-based The Pinkard Group to develop a 51,500-square-foot Harris Teeter grocery store and 175 residential units for the Old Town North section of Alexandria. The $74 million, mixed-use development is scheduled to break ground in the second quarter of 2012, with Harris Teeter slated to open in 2014. The 65,000 square feet development site covers most of the city block bounded by North, Asaph, Madison and North Pitt streets. Bethesda-based Buvermo Properties is an equity partner in the development.
MARIETTA, GA. — Marcus Partners and Ackerman & Co. have acquired Marietta Medical Center in Marietta. The 98,534-square-foot property was purchased for an undisclosed amount in a joint venture between Boston-based Marcus Capital Partners Fund I, a $250 million commingled real estate fund, and Atlanta-based Ackerman & Co. The Class A property consists of a five-story medical office building and an attached parking garage. The property is currently 53 percent occupied.
BELLE ISLE, FLA. — Conway IG LLC has purchased Conway Crest Condominium Community and Belle Isle Mobile Home Park in Belle Isle. The 29-unit condo community and the 2.6-acre mobile home park sold for $5.17 million. Jay Ballard, Ken Delvillar and Lindsey Pfaender of Cushman & Wakefield represented the seller, Redus Florida Condos, in the REO transaction.