ATLANTA — Scott McGregor and John Haynes of Resource Real Estate Partners have brokered the $10 million sale of 6.5 acres of land between two undisclosed parties. The land, which is zoned for mixed-use development, is located on Pharr Road in the Buckhead neighborhood of Atlanta. The acreage can accommodate up to 1.2 million square feet of development.
Southeast
PEACHTREE CITY, GA. — HJB Holdings has purchased a 117,221-square-foot flex building from Dividend Partners for $5.2 million. Located at 665 Highway 74 South in Peachtree City, the property is 95 percent occupied. Cushman & Wakefield represented the buyer. Marcus & Millichap's Britton Burdette and Rob Fox represented the seller in the transaction.
UNION CITY, GA. — Developers Diversified Realty Corp. has sold the 100,002-square-foot Shannon Square shopping center to RCG Ventures of Atlanta for an undisclosed amount. The property, which is anchored by Citi Trends, is located on Jonesboro Road in Union City. Additional tenants include Dollar Tree and Farmer's Home Furniture. Kris Cooper, Margaret Caldwell and Christie Hawver of Jones Lang LaSalle represented the seller.
ATLANTA — Passion City Church has leased a 134,000-square-foot property from Ram Realty Services and has begun converting the former big-box store into a worship area. The property had housed a Home Depot EXPO, a PGA Superstore and a Sam's Club, and is located at 515 Garson Drive in Atlanta's Lindbergh City Center area. The renovations will be complete by the end of this year.
TRUSSVILLE, ALA. — NC/Trussville has sold the 67,325-square-foot Trussville Marketplace to a California-based private investor for an undisclosed amount. The property is located on 9.7 acres of land at 445-465 Main St. in Trussville. Winn Dixie, Dollar Tree, Domino's Pizza and Great Clips are housed in the center, which is 98 percent occupied. Hanley Investment Group Real Estate Advisors represented the seller.
FAIRFAX COUNTY, VA. — Gables Residential will break ground early next month on the 120-unit Gables Centerpointe at the interchange of Interstate 66 and Highway 50 in Fairfax County. The new development will sit adjacent to the 1.5 million-square-foot Fair Oaks Mall. The four-story building will feature a fitness center, a business center and a club room. Completion of the LEED project is slated for late 2011.
BOCA RATON, FLA. — Balfour Beatty Construction has completed vertical construction of the first two towers at Florida Atlantic University's Innovation Village, a $66 million student housing project in Boca Raton. The LEED Silver development will house 1,200 students in 375 units. Amenities will include retail space, a pool, sand volleyball courts, computer labs and fitness rooms. Delivery is expected in time for the 2011 school year.
AMERICUS, GA. — Marcus & Millichap has brokered the $4.53 million sale of a Walgreens between two undisclosed parties. The 14,820-square-foot property is located in Americus. Marcus & Millichap's Joshua Lucas represented the buyer, and the firm's Lior Regenstreif represented the seller. John Leonard helped close the deal.
TAMPA, FLA. — Alliance Residential Co. will break ground in October on the 296-unit Citrus Park Village at 8049 Gunn Highway in Tampa. The project will include a mix of one-, two- and three-bedroom units. Amenities will include a pool, a fitness center, a business center and a game room. Delivery is slated for mid-2012.
ORLANDO, FLA. — Wells REIT II has purchased the 128,000-square-foot SunTrust Center from KanAm Grund for an undisclosed amount. The 10-sotry property, which is leased to SunTrust for 9 more years, is located at 200 S. Orange Ave. in Orlando. Keith Willby served as in-house representation for Wells.