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.
MIAMI — Optibase Real Estate Miami, a wholly owned subsidiary of an Israeli-based real estate investment firm, has acquired 21 luxury condominium units at Marquis Residences, located at 1100 Biscayne Blvd. in Miami. Leviev Boymelgreen Marquis Developers sold the condos for $8.6 million. Eddy Martinez of Miami-based Worldwide Development Services represented the buyer in the transaction.
SILVER SPRING, MD. — AREA Property Partners has acquired Fairland Gardens, a 400-unit apartment community in Silver Spring. Currently 96 percent occupied, the property offers one- and two-bedroom units, a clubhouse, a swimming pool, a basketball court, and grilling and picnic areas. AREA was selected Bethesda, Md.-based Realty Management Services, an affiliate of ROSS Companies, to manage the property. Additionally, AREA plans to renew the property's Housing Assistance Payments contract, which affects 25 percent of the units. The seller and acquisition price were not released.
ORLANDO, FLA. — Victory Health Care LLC has purchased one of the buildings of I-4 Commerce Center, which is located at 1800 33rd St. in Orlando. The 12,600-square-foot office building was sold for $1.95 million. The property will be occupied by Tender Touch Health Care, a Medicare-certified home health agency. Anderson Tiu of Keller Williams Classic Realty represented the buyer; Ray Romano of CB Richard Ellis represented the undisclosed seller in the transaction.
ANDERSON, S.C. — The Hampshire Companies, in a joint venture with MCB Real Estate, has acquired two retail properties totaling 43,139 square feet in Anderson. The properties are located within the North Hills Commons, a 333,149-square-foot shopping center. TIAA-CREF sold the properties for an undisclosed price. Mike Burkard of CB Richard Ellis represented the seller in the transaction.
TROY AND JACKSONVILLE, ALA.; STATESBORO, GA.; BOWLING GREEN AND MURRAY, KY,; CLEMSON, S.C.; AND MARTIN, TENN. — KeyBank Real Estate Capital has provided $61.8 million in financing for the acquisition of nine student housing properties across the Southeast. The funding was arranged on behalf of Kayne Anderson Real Estate Partners I, a private equity real estate fund managed by Kayne Anderson Capital Advisors. KeyBank arranged $58 million in Freddie Mac financing for eight properties, including Troy Place in Troy receiving $9.15 million; The Pointe at Southern in Statesboro receiving $8.94 million; Western Place in Bowling Green receiving $7.24 million; Gables Student Apartments in Bowling Green receiving $3.61 million; Chase at Murray receiving $5.13 million; Berkeley Place in Clemson receiving $9.88 million; Clemson Place in Clemson receiving $6.39 million; and Reserve at Martin in Martin receiving $7.63 million. Additionally, KeyBank provided a $3.85 million bridge loan for the acquisition and stabilization of a student housing project in Jacksonville, Ala.
ORLANDO, FLA. — Redmond, Wash.-based Univar USA Inc. has completed the disposition of a 12,897-square-foot office/warehouse building in Orlando. The property, which includes 2.8 acres, is located at 8120 and 8400 S. Orange Ave. Apex, N.C.-based PetroLiance Properties LLC bought the property, which includes 2,897 square feet of office space, for $875,000. Robert Blackwell and Sean DuPree of NAI Realvest represented the seller; Clemens Commercial Real Estate represented the buyer.