HENRICO, VA. — DRCC Properties has acquired the former headquarters of Circuit City in Henrico for an undisclosed amount. The sale included the vacant, 288,000-square-foot building known as Deep Run I, as well as 58 acres of land. Deep Run I, which is located at 9950 Mayland Drive, features a full-service cafeteria, approximately 15,000 square feet of data center space and two full-building core atriums. The land purchase includes the 18.5 acres the building is located on and 2 acres leased to a daycare. The remainder of the land is for future development. Eric Robison and Mark Douglas of Thalhimer represented the seller, which was the lender that took the property back from its original owner in 2009.
BOYNTON BEACH, FLA. — A joint venture between Miami-based Integra Solutions and Boca Raton, Fla.-based The Altman Companies has acquired Peninsula on the Intracoastal, a distressed, non-fractured residential community located in Boynton Beach, for $8.3 million. Situated at 2649 N. Federal Highway, the unfinished property currently contains a five-story, 40-unit structure with waterfront views, 10 unfinished townhomes, a heated pool and spa, a private clubhouse and marina access to the Intracoastal Waterway. The infrastructure is in place to build 20 additional townhomes. Hampton Beebe, Avery Klann and Marc deBaptiste of the Boca Raton office of Apartment Realty Advisors arranged the deal. The buyer plans to operate the property as a luxury rental community in the near term.
SUWANNEE, GA. — An affiliate of USAA Real Estate Co. has acquired a grocery-anchored shopping center in Suwannee from an affiliate of Marietta, Ga.-based Columbia Properties. Village Shoppes at Windermere is a 74,403-square-foot retail property. Its anchor is Publix, and the the remaining tenants comprise casual restaurants, salons and professional offices. Occupancy was nearly 100 percent at the time of closing. Columbia Properties will continue to manage the center. The purchase price was not disclosed.
TAMARAC, FLA. — Chris Caveglia of Dockerty Romer & Co. has arranged a $2.2 million loan for Tamarac Commons, an office property in Tamarac. Located at 7300 and 7310 W. McNab Road, the property is comprised of two two-story, 27,878-square-foot buildings. The financing was arranged through a local lender with a 5-year term and a 25-year amortization schedule. The borrower was not released.
ROANOKE RAPIDS, N.C. — Mumford Co. represented PVC Inc. in the disposition of Sleep Inn of Roanoke Rapids. A local investment group acquired the 114-room property for an undisclosed price. The buyer plans to renovate the hotel, which will retain the Sleep Inn franchise affiliation. David Mumford and Ed James of Mumford Co. represented the seller in the transaction.
CHARLESTON, S.C. — Atlanta-based Reynolds Capital Group (RCG) and Charlotte, N.C.-based Lincoln Harris has acquired 16 acres of commercial property in Charleston. Known as Gateway Village, the property is located at the intersection of Highway 17, Main Road and Bees Ferry Road in the West Ashley submarket of Charleston. The companies plan to create build-ready opportunities for retailers, medical office groups and restaurants at the site. Infrastructure construction is scheduled to begin this fall.
KNOXVILLE, TENN. — Los Angeles-based NatKnox has acquired the 37,210-square-foot former Keebler Cookie Distribution Center in Knoxville. Located at 427 Park Village Road, the property offers desirable ceiling heights, multiple loading docks and modern efficient office space. The buyer plans to use the property for warehousing, distribution, and commercial and office requirements along with its existing property at Cedar Bluff Road and Interstate 40/75. Bob Thornton of Baker Realty Co. brokered the sale. The acquisition price was not released.
ARLINGTON, VA. — Mesa West Capital has funded a $16 million loan for the refinancing of Hotel Palomar in Arlington. The 154-room hotel is part of Waterview, a mixed-use project that offers 650,000-square-foot of office space and 133 residential condominium units. The hotel is owned by a partnership between The JBG Companies, CIM Group and Brookfield Properties, and is managed by Kimpton Hotels. Joe Donato and Matt Williams of CB Richard Ellis arranged the financing. Mesa West Capital provided the financing through its $614.5 million Mesa West Real Estate Income Fund II, which closed in June.
WINTER PARK, FLA. — CB Richard Ellis has brokered the sale of Sun Key, a multifamily property located in Winter Park. Built in 1987, the 596-unit property sold for $44.15 million. Shelton Granade and Luke Wickham of CB Richard Ellis represented the undisclosed seller in the transaction. The buyer was not undisclosed.
HARFORD COUNTY, MD. — St. John's Properties has broken ground for the development of three Class A office properties at The Government and Technology Enterprise (The GATE), a 416-acre state-of-the-art office and technology business park located within Aberdeen Proving Ground in Harford County. The project includes 6200 and 6210 Guardian Gateway Drive, two three-story, 75,000-square-foot office buildings, and 6180 Guardian Gateway Drive, a 29,400-square-foot building. Additionally, St. John Properties is currently constructing five other office buildings at The GATE. Scheduled for completion in mid-2011, the buildings are seeking LEED Silver certification by utilizing high-efficiency HVAC systems, high performance windows, water conserving lavatory fixtures, a white thermoplastic polyolefin roofing system and drought-tolerant landscaping. St. John's Properties has the capacity to develop more than 2 million square feet of Class A office, R&D and flex/office space at The GATE.