MIAMI — American Tire Recycling Group has purchased a 75,000-square-foot industrial facility located at 3551 N.W. 116th St. in Miami. Situated within the Gratigny Industrial Park, the building sold for $3.6 million. Nick Wigoda, Steven Medwin and Harry Wardell of Jones Lang LaSalle represented the seller, Forty Seven Avenue LLC, in the transaction.
Southeast
LAKE WALES, FLA. — Rebman Properties has brokered the sale of four warehouse facilities totaling 74,000 square feet. The buildings are situated on 24.76 acres of rail-served property in Lake Wales. Stephen Baker purchase the buildings for $800,000. Greg Rebman of Rebman Properties represented the seller, Industrias Vassallo, in the transaction. Albert Cross of Cross Realty and Ronald Booth represented the buyer.
AUGUSTA, GA.; EDGEWOOD AND TALLAHASSEE, FLA.; AND CARROLLTON, TEXAS — Healthcare Trust of America (HTA) has acquired four long-term acute care hospitals (LTACH) in Georgia, Florida and Texas for $102 million. Each property is leased to and operated by Select Medical Corp. The assets include Select Augusta LTACH, a 71,900-square-foot, 80-bed facility in Augusta; Select Orlando LTACH, a 48,598-square-foot facility in Edgewood; Select Tallahassee LTACH, a 46,682-square-foot, 29-bed facility in Tallahassee; and Select Dallas LTACH, a 50,530-square-foot, 60-bed facility in Carrollton. Additional terms of the transaction were not released.
STERLING, VA. — Bethesda, Md.-based First Potomac Realty Trust has purchased Atlantic Corporate Park, which is located at 45600 and 45610 Woodland Road in Sterling. The two-building office property offers 219,980 square feet of Class A office space. Dexus Dulles Town Crossing sold the property, which is LEED Gold certified. David Gast and Erik McLaughlin of CB Richard Ellis represented the buyer in the transaction.
CORAL SPRINGS, FLA. — Hollywood, Fla.-based MG3 Developer Group has purchased the former Target building, which is located at 6250 W. Sample Road in Coral Springs. The 100,000-square-foot property sold for $7 million. Dan Lynch and Ross Waters of Atlantic Retail Properties brokered the transaction. The seller was not released.
KENNESAW AND GRAYSON, GA. — NorthMarq Capital's Atlanta Regional office has arranged combined first mortgage financings of $47.05 million for two multifamily communities in Georgia. The 450-unit Trees of Kennesaw community, which is located at 1925 Old Highway 41 N.W. in Kennesaw, received a $24.05 million loan. The 414-unit Tree Corner, which is located at 1525 Grayson Highway in Grayson, received a $23 million loan. Both loans were based on a 7-year term with a 30-year amortization schedule. Bruce Foster of NorthMarq arranged the loans for the borrowers, Trees of Kennesaw LLC and Tree Corners LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.
OCOEE, FLA. — 320 Enterprise Street LLC has acquired a 46,448-square-foot industrial property in Ocoee. The property is situated on 4 acres at 320 Enterprise St. The buyer plans to use the property for its Central Florida recycling operations. Ray Romano of CB Richard Ellis represented the seller, Cox Lumber Co., in the transaction. Gosselin Realty represented the buyer.
TAMPA, FLA. — Sage Partners is developing Metro 510, a 120-unit workforce housing facility in downtown Tampa. The project will incorporate the re-use of St. Paul AME Church as the community's clubhouse and amenity building. The project will feature an outdoor spray ground, an indoor play court, a “tween” room, a fitness center, a business center and elevated exterior courtyards. Tampa-based Urban Studio Architects is providing architectural services for the project.
MARIETTA AND DEKALB COUNTY, GA. — Atlanta-based Cortland Partners has acquired two multifamily properties in the Atlanta metro area. In the first transaction, the company purchased Harbour Oaks Apartments, an 80-unit property located at 1565 Cider Road in Marietta, for $3.3 million. The acquisition price includes a planned renovation of the property. North Carolina-based Self-Help Venture Fund is financing the project using federal stimulus funds from the Neighborhood Stabilization Program. Cortland originally purchased the delinquent note for Harbour Oaks from JP Morgan/Chase in June. In the second transaction, Cortland acquired Woodhaven Apartments, a 276-unit apartment community located at 3800 Brockett Trail Road in DeKalb County, for an undisclosed price. Cortland plans to renovate the property, which offers a mix of one-, two- and three-bedroom units.
ALACHUE, FLA. — Construction is currently under way for the new headquarters of National Center for Construction Education and Research in Alachue. The two-story, 31,000-square-foot facility will feature a modern, contemporary design housing several office suites and a multi-purpose conference center. Additionally, the building was designed to achieve LEED Silver certification. The Haskell Company provided architectural services for the project. Completion is slated for fall 2011.