TAMPA, FLA. — Marcus & Millichap has arranged the $2 million sale of the 40-unit Dale Mabry Palms Apartments, a Class B garden-style apartment complex located at 5901 S. Dale Mabry Hwy. in Tampa. Casey Babb and Luis Baez of Marcus & Millichap's Tampa office represented the seller, a developer, in the transaction and procured the buyer, a private investor.
NAPLES, FLA. — A 5,900-square-foot office condo, located at 1865 Veterans Park Dr., Unit 1, has sold for $1.03 million. Dave Wallace of CRE Consultants' Naples office represented the seller, MKK Holdings, in the transaction and procured the buyer, Jaffe Sports Medicine & Rehab.
NEW YORK CITY — New York City-based Centerline Capital Group has arranged $23 million in affordable MBS loans for the refinance and acquisition of nine multifamily properties, four of which are located in the Southeast in Memphis and Cleveland, Tenn.; Gastonia, N.C.; and Birmingham, Ala. Additional properties are located in Temple, Texas; Kansas City, Mo.; Cincinnati, Dayton and Franklin, Ohio. The borrower is a commercial real estate owner and management company that specializes in Section 8 housing. The loans all have a 10-year term with a 30-year amortization schedule.
ALPHARETTA, NORCROSS AND SMYRNA, GA. — Atlanta-based OA Development has awarded Lincoln Property Co. Southeast the leasing assignment for four office properties in metro Atlanta. The properties include the 135,000-square-foot Lakeview 400 and 99,000-square-foot Bluegrass Promenade in Alpharetta; the 111,000-square-foot Northwoods Business Center in Norcross; and the 104,000-square-foot 2400 Lake Park Drive in Smyrna. Michael Howell and Hunter Henritze of Lincoln will handle the leasing for the four office properties.
WASHINGTON, D.C. — Bethesda, Md.-based Urban Atlantic and Chevy Chase, Md.-based The JBG Companies have started construction on the $120 million, 530-unit Sky House, two residential buildings located at the intersection of 4th and M streets in Washington, D.C. The project is an adaptive reuse of two vacant commercial buildings. Urban Atlantic is the developer for the project, and The JBG Companies is the financial partner and will serve as the management company upon completion. Capitol One, TD Bank and Eagle Bank provided financing. Wiencek + Associates Architects + Planners DC designed the property and Hamel Builders of Washington is constructing the project. Completion is slated for fall 2013.
DUNEDIN, FLA. — Marcus & Millichap has arranged the $7.3 million sale of the 188-unit Logarto Apartments, located at 257 Milwaukee Ave. in Dunedin. The property is 70 percent leased. Michael Regan and Francesco Carriera of Marcus & Millichap's Tampa, Fla., office represented the seller, a partnership, in the transaction and procured the buyer, a private investor.
LEXINGTON, KY. — Lexington-based NAI Isaac has negotiated the $2.67 million sale of two medical office buildings, located at 1713 and 1721 Nicholasville Rd. in Lexington, totaling 11,110 square feet. Al Isaac of NAI Isaac represented the sellers, EW Nicholasville and 1713 Nicholasville, LLC, in the transaction. The buyer was an undisclosed investor.
RICHMOND, VA. — The 53-room Econo Lodge Airport, located at 5408 Williamsburg Rd. in Richmond, has been sold. Sita Properties, the buyer, plans to renovate the hotel. David Mumford of Mumford Co.'s Newport News, Va., office, along with Steve Kirby of the firm's Atlanta office, represented Allen Management, the seller, in the transaction.
GREENVILLE, N.C. — Bonefish Grill and Dick's Sporting Goods have signed leases totaling 54,800 square feet at HJ Brody's 11 Galleria, located on Memorial Highway in Greenville. Bonefish Grill leased 4,800 square feet, and Dick's Sporting Goods leased 50,000 square feet. Both tenants are slated to open in the fall/winter 2012.
ATLANTA — Parmenter Realty Partners has acquired the 350,000-square-foot Lenox Building, located at 3399 Peachtree Rd. NE in Atlanta, from Clarion Partners for $59.3 million, according to CoStar. The 19-story building includes a fitness center, structured parking, cafe and direct access to the MARTA Lenox station. John Davidson, Michael Holmes and Reginald Mackey of Cushman & Wakefield's Atlanta office represented the seller in the transaction. Cushman & Wakefield Sonnenblick Goldman arranged acquisition financing through GE Capital Real Estate.