Southeast

526,000 SQUARE FEET OF SPACE COMPLETE AT THE GATE IN MD.

by admin March 11, 2011

HARFORD COUNTY, MD. — St. John Properties has completed nine office and R&D buildings at The Government and Technology Enterprise (The GATE) project, a 416-acre business community located within Aberdeen Proving Ground in Harford County. The buildings, which were designed to meet LEED SIlver certification, offer a total of more than 526,000 square feet of space. Current tenants at the business park include CACI International Inc., L-3 Communications, Raytheon Company and Science Applications International Corp.

March 11, 2011

58-ROOM HOTEL SELLS IN CHESAPEAKE, VA.

by admin March 11, 2011

CHESAPEAKE, VA. — Jay Mahalaxmi LLC has purchased the Super 8 Motel in Chesapeake. The buyer plans to renovate the three-story, 58-room hotel, which will continue to be a Super 8. David Mumford of The Mumford Company's Newport News, Va., office represented the undisclosed seller in the transaction. Terms of the transaction were not released.

March 11, 2011

Retail Southeast

$13.3 MILLION RETAIL LOAN ARRANGED IN WEST VIRGINIA

by admin March 11, 2011

WEST VIRGINIA — Scott DeVinney of NorthMarq Capital's Upstate New York Regional office arranged $13.3 million in first mortgage financing for The Crossings Shopping Center in West Virginia. The 200,000-square-foot retail center is occupied by a variety of tenants, including Kmart and Kroger. Financing was based on a 10-year term and a 25-year amortization schedule. The loan was arranged for the borrower through NorthMarq's relationship with American National.

March 11, 2011

Mixed-Use Southeast

CORAL STATION SELLS FOR $14.78 MILLION IN MIAMI

by admin March 10, 2011

MIAMI — BVT Development Partners has completed the sale of Coral Station, a 3-acre development site located at 1420 S.W. First Court in Miami's Brickell Financial District. A private foreign investment group led by Miami-based Alex Vadia acquired the property for $14.78 million. Potential development options for the site include residential, hotel and retail.

March 10, 2011

Retail Southeast

24,000-SQUARE-FOOT RETAIL CENTER SELLS FOR $3.5 MILLION IN MARYLAND

by admin March 10, 2011

COLUMBIA, MD. — Columbia Gateway Plaza LLC has acquired The Shoppes at Gateway Plaza, a 24,000-square-foot retail center situated within the 630-acre Columbia Gateway Business Community at 7185 Columbia Gateway Dr. in Columbia. Sanford Gateway LLC, an affiliate of Stanford Properties, sold the center for $3.5 million or $148 per square foot. The center is currently 87 percent leased to a mixture of restaurants and business service amenities, including The Columbia Bank. Rick Porter of Goldstone Realty represented the buyer; Gil Neuman of KLNB Retail Investment Sales represented the seller in the transaction.

March 10, 2011

Hospitality Southeast

THAYER LODGING GROUP TO ACQUIRE HOTEL PALOMAR IN ATLANTA

by admin March 10, 2011

ATLANTA — Thayer Lodging Group is under contract to acquire Hotel Palomar Atlanta-Midtown, which is located at 866 W. Peachtree St. NW, from WP Partners. Concurrent with acquisition, the 21-story, 304-room hotel will be rebranded as The Renaissance Atlanta Midtown Hotel, within the Marriott International lifestyle portfolio. Renaissance will operate the hotel upon closing of the acquisition. The hotel features 10,000 square feet of flexible meeting space and a 1,000-square-foot fitness center.

March 10, 2011

Multifamily Southeast

WALKER & DUNLOP CLOSE $48.9 MILLION MULTIFAMILY LOAN IN D.C.

by admin March 10, 2011

WASHINGTON, D.C. — Walker & Dunlop has provided a $48.9 million loan insured under the U.S. Department of Housing and Urban Development's Section 223(a)(7) program to Capitol Hill Tower Housing Cooperative Inc. Located in downtown Washington, D.C., the 334-unit multifamily property offers a parking garage with valet service, an indoor pool, stadium views and an on-site dry cleaner. The loan was structured with a 90 percent loan-to-cost with a 40-year fully amortizing mortgage. Cushman & Wakefield Sonnenblick Goldman sourced the loan. Michael Johnson led the Walker & Dunlop team in the transaction.

March 10, 2011

Retail Southeast

BOYNTON TOWN CENTER SELLS FOR $59 MILLION IN FLORIDA

by admin March 9, 2011

BOYNTON BEACH, FLA. — An affiliate of Sembler Co. has completed the disposition of Boynton Town Center on Congress Avenue in Boynton Beach. Canada-based Morguard Investments Limited acquired the property for $59 million. The 202,000-square-foot retail center is occupied by SuperTarget, Best Buy, Total Wine, Michaels, Shoe Carnival, Jos. A Banks, GameStop, Sweet Tomatoes, Five Guys Burgers, Massage Envy and LensCrafters. CB Richard Ellis' Florida National Retail Investment Group represented the seller in the transaction.

March 9, 2011

Retail Southeast

58,413-SQUARE-FOOT RETAIL CENTER SELLS IN ATLANTA METRO

by admin March 9, 2011

DUNWOODY, GA. — Coro Realty Advisors has partnered with Daltex Oglethorpe Crossing LLC to purchase Oglethorpe Crossing Shopping Center, which is located at 3425 Ashford Dunwoody Road in Dunwoody. The 58,413-square-foot center is occupied by Publix and CVS/pharmacy. Terms of the transaction were not released.

March 9, 2011

Office Southeast

CASSIDY TURLEY ARRANGES THREE-BUILDING OFFICE PORTFOLIO SALE

by admin March 9, 2011

COLUMBIA, MD., AND TYSONS CORNER, VA. — Cassidy Turley has arranged the sale of a three-building office portfolio in Maryland and Virginia. First Potomac Realty Trust acquired the properties – Cedar Hill I and III totaling 102,632 square feet in Tysons Corner, and Columbia Office, a 137,677-square-foot building in Columbia, for an undisclosed price. Cedar Hill I, located at 2222 Gallows Road, and Cedar Hill III, located at 2216 Gallows Road, are fully leased to the GSA through 2020 and 2019, respectively. Columbia Office is located at 10320 Little Patuxent Parkway. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller, PNC Realty Investors, which sold the property on behalf of a client, in the transaction.

March 9, 2011

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