POOLER, GA. — A joint venture between H.J. High Construction Co. and Batson-Cook Co. has been selected to build the $16 million, 74,000-square-foot Bay 4, which will be Phase III of the Mitsubishi Power Systems Americas Savannah Machinery Works development, located off of Interstates 16 and 95 in Pooler. The facility will be used for gas turbine and steam turbine assembly activities. The project is slated for completion in March 2012.
Southeast
ST. SIMONS ISLAND, GA. — A joint venture between Atlanta-based Paces Properties and Somera Capital Management has purchased the 108,000-square-foot Retreat Village Shopping Center, located in St. Simons Island, from RVMC for $8 million. Fred Freyer of St. Simons-based Don Wright & Associates represented the buyer in the transaction. John Hampton of White Oak Real Estate Advisors arranged joint venture equity for the transaction. The joint venture will invest approximately $1 million for renovations at the center, which will include a new facade, updated exterior lighting and the addition of decorative awnings and architectural pilasters.
SUNRISE, FLA. — RSM Sunrise Properties has purchased a 19,600-square-foot industrial building, located at 4615 N.W. 103rd Ave. in Sunrise, from Anthony Carlone and Frank Carlone for $1.51 million. Stephen Heim and Franklin Morrison of Fort Lauderdale, Fla.-based NAI Rauch Weaver Norfleet Kurtz & Co. represented the sellers in the transaction. Robert Listokin and Peyton Moore of Colliers International's Fort Lauderdale office represented the buyer.
TAMPA, FLA. — Marcus & Millichap has brokered the $1.2 million sale of the 12,879-square-foot Settler's Pointe Office Complex, located at 14914 Winding Creek Ct. in Tampa. Moe Derbala of Marcus & Millichap's Tampa office represented the seller, a Florida-based private investor, and secured the buyers, Seminole, Fla.-based private investors.
COMMERCE, GA. — A joint venture between Hillwood Investment Properties and Brookfield Real Estate Opportunity Fund II has purchased a 962,280-square-foot distribution facility, located at 1523 Steve Reynolds Industrial Blvd. in Commerce, from a joint venture between Aegon and Tucker, Ga.-based Rooker & Associates for an undisclosed price. Hillwood and Brookfield plan to invest $1.2 million in building improvements to offer the facility for leasing. Todd Barton and Greg Haynes of CB Richard Ellis' Atlanta office represented the buyer in the transaction. John Rooker and Murray Reavis of Rooker & Associates represented the seller.
MIAMI — Marcus & Millichap has negotiated the $1.3 million sale of the 28-unit Sunnyside Apartments, located at 15001 NE 6th Ave. in Miami. Felipe Echarte, Jr., and Joseph Thomas of Marcus & Millichap's Ft. Lauderdale office represented the seller, a Miami-based private investor, and secured the buyer, a limited liability company.
COLONIAL HEIGHTS, VA. — Cushman & Wakefield — Thalhimer has arranged the $1.1 million sale of a 22,657-square-foot retail property, located at 1823 Southpark Blvd. in Colonial Heights. CHVA Properties purchased the former Circuit City building from 1823 Southpark LLC. Connie Nielsen of Cushman & Wakefield — Thalhimer represented the seller in the transaction.
CHARLOTTESVILLE, VA. —Ted Hermes of Walker & Dunlop's Bethesda, Md., office has secured a $29 million loan for the 280-unit Avemore Apartments, located at 1540 Avemore Ln. in Charlottesville. The 10-year refinance loan has a 30-year amortization schedule and was funded under the Fannie Mae DUS Loan program.
ROCKVILLE, MD. — Ellwood Thompson's has leased 15,000 square feet with Federal Realty Invesment Trust to open Dawson's Market at the 180,000-square-foot Rockviile Town Square, located at 200 E. Middle Ln. in Rockville. The store is slated to open in spring 2012.
FLORENCE, S.C. — Farmington, Conn.-based Otis Elevator has purchased the 423,581-square-foot Florence Industrial Center, located at 1500 Range Way in Florence, from Hackman Capital for an undisclosed price. John Ticon and Edward Kercher of Cushman & Wakefield's Charleston, S.C., office represented the buyer in the transaction. Randy Stump of Charlotte, N.C.-based The Stump Corp. represented the seller.