MECHANICSVILLE, VA. — GDA Real Estate has purchased the 46,743-square-foot Bell Creek Commons shopping center from Atlantic Realty Investments for $11.1 million. The property, which is anchored by Best Buy, is located at the intersection of Interstate 295 and Mechanicsville Turnpike. The 2-year-old center is 97 percent occupied. Kris Cooper, Margaret Caldwell and Christine Hawver of Jones Lang LaSalle represented the seller.
Southeast
RIVIERA BEACH, FLA. — SIKON Construction will soon begin work on the $7 million Publix at Riviera Beach. The 84,600-square-foot property will span three stories and will be located at 252 E. Blue Heron Blvd. in Riviera Beach. The 28,200-square-foot supermarket will sit below two floors of parking. Fisher and Associates designed the property, which is being developed by Brandon Structures. Completion is expected in August 2011.
RICHMOND, VA. — Lingerfelt Development has broken ground on the 70,000-square-foot OrthoVirginia Building for West End Orthopaedic Clinic and CJW Medical Center. The $25 million sports medicine and rehabilitation property will be located in Boulders Corporate Park at the intersection of Chippenham Parkway and Jahnke Road in Richmond. Price Studios designed the project, which will be built to LEED standards by Hourigan Construction. Delivery is slated for next summer.
DORAL, FLA. — PS Business Parks has completed work on 135,000 square feet of industrial space at the Miami International Commerce Center. The space, which is located at 8216 NW 14th St. in Doral, includes a 75,000-square-foot warehouse and the redevelopment of 60,000 square feet of street-level units. The center now encompasses more than 3.2 million square feet of industrial and flex space.
RESTON, VA. — Reston-based Calkain Cos. has acquired Westpark Real Estate Advisors, an asset management consulting and advisory firm. Calkain will now be able to provide clients with everything from underwriting services to the disposition of assets. Richard Murphy, former principal of Westpark, will become managing director of Calkain Asset Management. His focus will be underwriting and asset management in the industrial, office and retail markets.
COLUMBUS, GA. — Columbus-based Victory Real Estate Investments has purchased a 10-property shopping center portfolio from Prattville, Ala.-based Newton Oldacre McDonald for an undisclosed amount. Four centers are located in Florida, another four centers are located in Alabama, and the remaining properties are located in Mississippi and Louisiana.
GREENSBORO, N.C. — Bell Fund III has purchased the 336-unit Brassfield Park Apartments from an Atlanta-based investment firm for $22.8 million. The property, which was built in 1997, is located in Northwest Greensboro. A partial renovation is already under way.
COLUMBIA, MD. — Eastern Outdoor Advertising Co. has purchased the 8,500-square-foot Centre Park 100 from 8890 Centre Park Drive LLC for $2.3 million. The property is located at 8890 Centre Park Drive in Columbia. The building is fully leased by four tenants. Manekin's David Paulson represented the buyer. Gil Neuman of KLNB represented the seller.
OCALA, FLA. — Konover South of Deerfield Beach, Fla., will break ground this fall on the 92,600-square-foot Park View Commons shopping center. The property, which will be anchored by a 45,600-square-foot Publix, will be located at the intersection of Maricamp Road and Southeast 24th Street in Ocala. The plans also call for 25,000 square feet of in-line retail space and three outparcels.
ATLANTA — L&B Realty Advisors has sold the 94,966-square-foot Duluth Station shopping center to Forge Capital Partners for $8.27 million. The property, which is 79 percent leased, is located at 2750 Buford Highway in Atlanta. Tenants in the Publix-anchored center include Great Clips, H&R Block, State Farm and Subway. Jim Hamilton of Holliday Fenoglio Fowler represented the seller.