CHESTERFIELD COUNTY, VA. — CVS/pharmacy has acquired two land parcels at 5401 Omo Road and 6320 and 6400 Iron Bridge Road in Chesterfield County. Bessie J. Lynch sold approximately 2.01 acres to the company for $400,000 and J&B Realty LLC sold approximately 2.25 acres to CVS for $375,000. The Rebkee Company is developing a CVS/pharmacy at the site. Lindsey Floyd of Thalhimer, a member of Cushman & Wakefield Alliance, negotiated the transactions.
Southeast
HARRODSBURG, KY. — North Carolina-based Chen Development LLC has purchased a 60,048-square-foot grocery-anchored shopping center in Harrodsburg. Located at 844 S. College St., the property is occupied by Kroger, Cato, Arby’s and Cellular One. Centro Properties sold the retail center for an undisclosed price. Rebecca Wells and Robert Taylor of Cassidy Turley represented the seller in the transaction.
NEW ORLEANS — A California-based REIT has acquired Sure Save USA Self-Storage, an 117,155-square-foot self-storage facility in New Orleans. The property sold for $3.4 million. Completed in 2006, the 736-unit facility offers 640 climate-controlled units. Property amenities include elevators, digital surveillance cameras, roll-up doors, RV parking and a manager’s office. Michael Mele of Marcus & Millichap represented the seller, an Ohio-based financial institution. Additional terms of the lease were not released.
GAINESVILLE, GA.; DECATUR AND MONTGOMERY, ALA.; AND GREENSBORO, N.C. — Coyote Management LP and Garrison Investment Group, through their affiliates, have acquired six retail centers in the Southeast. Totaling 1.6 million square feet the assets include the 517,153-square-foot Lakeshore Mall in Gainesville; the 576,000-square-foot Decatur Mall in Decatur; Promenade Montgomery Shopping Center, Promenade Montgomery North Shopping Center, and Bellwood Center in Montgomery; and Quaker Village in Greensboro. Addison, Texas-based Coyote Management now owns and manages a portfolio of 5.8 million square feet.
TALLAHASSEE, FLA. — Magnolia Park LLC has completed the disposition of a freestanding retail property, which is located at the corner of Park Avenue and Magnolia Drive in Tallahassee. The NN-leased AT&T store sold to an undisclosed buyer for $2.16 million. Francis Rentz of Sperry Van Ness (SVN) represented the seller; Jason Long of Shane Investments represented the buyer in the transaction.
ASHBURN, VA. — Richmond Heights, Ohio-based Associated Estates Realty Corp. has acquired The Ashborough, a Class A multifamily property located in Ashburn. Built in 2004, the property offers 504 units and is currently approximately 97 percent occupied. Associated Estates now owns 2,340 units at eight apartment communities in Maryland and Virginia. Terms of the transaction were not released.
MIAMI — Wexford Science & Technology has completed vertical construction on the six-story R&D Building One, the first phase of The University of Miami Life Science & Technology Park. The 252,000-square-foot building is located on 8.8 acres of land at NW 17th Street in Miami. R&D Building One, which has been designed to LEED standards, will house office, lab and retail space. Delivery is expected in the middle of next year. The entire technology park will eventually span five buildings and 2 million square feet.
DURHAM, N.C. — Hines Global REIT has purchased the 327,10-square-foot Hock Plaza from Brickman Durham for an undisclosed price. The Durham medical office building, which was completed in 2004, is 99 percent leased to Duke University, Duke University Health System and a small retailer. Holliday Fenoglio Fowler represented Brickman in the transaction.
MACON, GA. — Hull Storey Gibson Cos. has purchased the 1.44 million-square-foot Macon Mall from a private party for an undisclosed price. The mall, which opened in 1975, is located on Eisenhower Parkway in Macon. The property is anchored by Belk, JC Penney and Sears. Macon Mall underwent an expansion in 1997.
DULLES, VA. — Calkain Cos. has brokered the $13.37 million office sale of Orbital Building 7 in Dulles. The two-story, NNN-leased property is located on 4.52 acres of land off Route 28. Jerry Burg, Rick Fernandez and Andrew Fallon of Calkain represented the seller in the transaction.