Southeast

824,2998-SQUARE-FOOT WAREHOUSE FACILITY SELLS IN MARYLAND

by admin February 7, 2011

HAGERSTOWN, MD. — Denver-based Industrial Income Trust has purchased an 824,298-square-foot Class A warehouse and distribution facility in Hagerstown. Located at 16500 Hunters Green Parkway, the property is 100 percent occupied by The Home Depot. Built in 2000, the property features 42-foot ceiling heights and docks on all four sides of the facility. Boston-based New Boston Fund sold the property for an undisclosed price. Bo Cashman, Jonathan Beard, Michael Hines and Michael Blunt of CB Richard Ellis represented the seller in the transaction.

February 7, 2011

81,428-SQUARE-FOOT RETAIL CENTER TRADES HANDS IN SNELLVILLE, GA.

by admin February 7, 2011

SNELLVILLE, GA. — The Lightstone Value Plus REIT has acquired Everson Pointe Shopping Center in Snellville. Anchored by Kroger, the 81,428-square-foot retail center is located at 3035 Centerville Highway. State Bank and Trust of Georgia provided long-term, non-recourse acquisition financing for the transaction. Richard Reid and Mike Cale of Holliday Fenoglio Fowler brokered the transaction. The seller and acquisition price were not released.

February 7, 2011

Industrial Southeast

KTR ACQUIRES TWO WAREHOUSE FACILITIES IN GEORGIA

by admin February 7, 2011

LITHIA SPRINGS, GA. — KTR Capital Partners has acquired two warehouse facilities in Lithia Springs. Located with the Westford Business Park at 1500 and 1575 Distribution Court, the facilities, which total 321,400 square feet, feature 24- and 26-foot clear ceiling heights, 44 exterior docks and three ramp-in doors. KTR plans to upgrade and reposition the properties. Terms of the acquisition were not released.

February 7, 2011

Multifamily Southeast

GRANDBRIDGE FUNDS $34.56 MILLION MULTIFAMILY LOAN IN FLORIDA

by admin February 7, 2011

FT. LAUDERDALE, FLA. — Grandbridge Real Estate Capital has closed on a $34.56 million loan, which is secured by The Falls at Marina Bay in Ft. Lauderdale. David Gahagan of Grandbridge originated the loan, which was a refinance of an existing HUD-insured loan under Section 221(d)(4) pursuant to Section 223(a)(7). The 376-unit multifamily features a clubhouse with a gymnasium, racquetball courts, a movie theatre, coffee/tea service, billiards, a sauna and a spa, a resort-style pool, a fitness trail, tennis courts, a waterfront restaurant and marina/waterfront views.

February 7, 2011

Mixed-Use Southeast

FCP, WML TAKE SETTLER'S MARKET IN VIRGINIA FOR $13.25 MILLION

by admin February 4, 2011

JAMES CITY COUNTY, VA. — Federal Capital Partners (FCP) and Westmoreland Partners (WML) have acquired Settler's Market, a multi-use development at the intersection of State Route 199 and Monticello Avenue in James City County. The $13.25 million acquisition from a bank's REO portfolio was made by FCP and WML. Settler's Market has an approved site plan for 349,890 square feet of retail and commercial space and 204 residential units. At the time of closing, 47,826 square feet of retail space was already developed and is occupied by tenants, including Trader Joe's, BB&T and Baker's Crust.

February 4, 2011

Healthcare Southeast

DUKE REALTY TAKES 190,773-SQUARE-FOOT MOB IN CHARLOTTE, N.C.

by admin February 4, 2011

CHARLOTTE, N.C. — Duke Realty Corp. has acquired Morehead Medical Plaza I on the Carolina Medical Center campus in Charlotte. The 190,773-square-foot medical office building is directly connected to Carolinas Medical Center's 874-bed inpatient care tower via an enclosed walkway. The property is 100 percent leased to Carolinas Medical Center. Terms of the transaction were not disclosed.

February 4, 2011

Industrial Southeast

77,540-SQUARE-FOOT INDUSTRIAL PROPERTY TRADE HANDS IN TENNESSEE

by admin February 4, 2011

ALCOA, TENN. — Second Harvest Food Bank of East Tennessee has acquired a 77,540-square-foot office, showroom and distribution center property in Alcoa. Walker Supply Company sold the property, which is located at 136 Torijack Landing Dr., for $4 million. Maribel Koella and Brian Tapp of NAI Knoxville represented the buyer; Mike Price and Jerry Holloway of Oliver Smith Realty represented the seller in the transaction.

February 4, 2011

Office Southeast

16,000-SQUARE-FOOT OFFICE BUILDING SELLS IN FLORIDA

by admin February 4, 2011

ST. PETERSBURG, FLA. — Marcus & Millichap has brokered the sale of a BB&T Insurance office building in St. Petersburg. Located at 800 49th St. N., the 16,000-square-foot property sold for $400,000. Leon Brockmeier and Tim Phillips of Marcus & Milichap represented the Maryland-based seller and the Florida-based buyer.

February 4, 2011

Retail Southeast

RETAIL PROPERTY SELLS FOR $2.65 MILLION IN KENTUCKY

by admin February 4, 2011

LEXINGTON, KY. — The Boulder Group has brokered the sale of a single-tenant, ground-lease retail property in Lexington. The property sold for $2.65 million. The 2-acre property is occupied by CVS/pharmacy on a long-term lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the undisclosed buyer. The seller was not released.

February 4, 2011

Multifamily Southeast

$42 MILLION, 614-UNIT APARTMENT JOINT VENTURE FORMED IN N.C.

by admin February 3, 2011

RALEIGH AND CHAPEL HILL, N.C. — Federal Capital Partners and Grubb Properties have made a joint venture investment in two multifamily properties in North Carolina. The venture, which is valued at $42 million, includes Riverwoods apartments in Raleigh and Glen Lennox in Chapel Hill. The joint venture acquired Riverwoods, a 174-unit property located on Six Forks Road, from Duham, N.C.-based Dilweg Companies. Andrea Howard of Grubb Properties represented the joint venture in the acquisition, while Steve Heffner of CB Richard Ellis Capital Markets helped the joint venture secure financing through Freddie Mac. The partnership plans to reposition the property as Sterling Forest Apartments. Jason Nettles of Holliday Fenoglio Fowler represented the seller. The 440-unit Glen Lennox is located on Hamilton Road. Dean Smith and Blake Oakland of Apartment Realty Advisors represented Grubb Properties in the acquisition.

February 3, 2011

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