SILVER SPRING, MD. — New York-based The Praedium Group and Fairfield Investment Co. have partnered to acquire Hampton Hollow Apartments, which is located at 3408 Hampton Hollow Dr. in Silver Spring. The 176,166-square-foot, 240-unit multifamily property sold for $31 million. Apartment amenities include security systems, washers and dryers, fireplaces and private patios or balconies with built-in storage units. Community amenities include a clubhouse with a full bar, a resort-style swimming pool and Jacuzzi, a state-of-the-art fitness center, a picnic area, a car wash and a recycling center. The seller was not disclosed.
RALEIGH AND WAKE FOREST, N.C. — Regency Centers has opened two retail centers totaling 122,653 square feet in North Carolina. In Raleigh, Regency Centers opened Market at Colonade, a 57,503-square-foot neighborhood center, which is anchored by a 40,000-square-foot Whole Foods Market. Additionally, the company has opened the 651,150-square-foot Harris Crossing in Wake Forest. The center is anchored by a 53,282-square-foot Harris Teeter and includes 12,000 square feet of retail space in the first phase, plus three outparcels.
GLEN ALLEN, VA. — Dallas-based Westdale Real Estate Investment & Management has acquired Westpark Shopping Center in Glen Allen for $23.3 million. Situated on 14.7 acres at 9645 W. Broad St., the 176,973-square-foot retail center is 74 percent leased to tenants, including Martin's (former Ukrop's) and The Tile Shop. Richard Reid and Jim Hamilton and Mark Remington of Holliday Fenoglio Fowler represented the seller, a commingled fund managed by J.P. Morgan Investment Management, in the transaction.
FORT MYERS, FLA. — Gartner Inc. has selected McGarvey Development to construct its new 120,000-square-foot build-to-suit industrial facility in Fort Myers. The property will be located within Eastlinks Business Park, a 46-acre, mixed-use park located at Daniels Parkway and Gateway Boulevard. Completion is scheduled for September.
FOLKSTON, GA. — Rich Murphy of Calkain Companies represented a private investor in the acquisition of a Dollar General store in Folkston. The 9,014-square-foot retail property is leased to Dollar General on a long-term, double-net basis. The asset traded at an 8.9 percent CAP rate. Bill Weitzenkorn of Tri-Oak Commercial represented the undisclosed seller.
HAVRE DE GRACE, MD. — Bentall Kennedy has acquired a 613,000-square-foot distribution center in Havre de Grace for $26.4 million. Located at 1900 Clark Road, the center is fully leased to The Sun Products Corp. through February 2016. The seller was a joint venture between Hamphire Real Estate Companies and MCB Real Estate. Jonathan Carpenter, Jay Wellschlager and Philip Iglehart of Cassidy Turley's Baltimore office brokered the transaction.
ROANOKE RAPIDS, N.C. — Desi Brothers Investments has acquired the Best Western in Roanoke Rapids for an undisclosed price. Accessible from Interstate 95, the 100-room hotel transaction included an onsite restaurant facility, which the buyer plans to renovate and reopen. Ed James and Steve Kirby with The Mumford Company represented the seller, Nationwide Properties, in the transaction.
TAMPA, FLA. — NorthMarq Capital has arranged a $2.6 million loan for Cypress Business Center in Tampa. Located at 4920 W. Cypress St., the 43,948-square-foot industrial facility is occupied by The AmScot Corp. and Cardio Command. Robert Hernandez of NorthMarq's Tampa Regional office arranged the financing through Thrivent Financial for Lutherans.
WASHINGTON, D.C. — The non-profit organization Campaign for Tobacco-Free Kids has leased 22,051 square feet of office space at 1400 Eye St. N.W. in Washington D.C. Mindy Saffer of locally based West, Lane & Schlager represented the tenant in the 10-year lease renewal. Terms of the transaction were not released.
DURHAM, N.C. — American Real Estate Partners has completed the disposition of Nottingham Hall, an office building located at 4505 Emperor Blvd. in Durham. Situated within Durham's Imperial Center business park, the building offers 105,363 square feet of Class A office space. The building was sold to an undisclosed buyer for an unreleased price. Paul Collins, Bill Collins, Drew Flood, Jud Ryan, James Cassidy, David Finger and Hillman Duncan of Cassidy Turley represented the seller in the transaction.