WASHINGTON, D.C. — Marcus & Millichap has arranged the $30.75 million sale of the 204-unit The Rittenhouse, an apartment complex located at 6101 16th St. NW. in Washington, D.C. Ari Firoozabadi of Marcus & Millichap's Washington, D.C., office represented Peter N.G. Schwartz Management Co., the seller, and ROSS Cos. represented Henderson Global Investors, the buyer, in the transaction.
MIAMI — Coconut Creek, Fla.-based Butters Construction & Development has been selected by New York-based fund KTR Capital Partners to construct a 500,000-square-foot, multi-phased industrial project in the Pam Am West Industrial Business Park in Miami. The development will contain institutional-grade distribution and warehouse facilities.
MIAMI — Franklin Street Real Estate Services has arranged the $3.9 million sale of a 122,000-square-foot warehouse, located at 5701-5703 NW 35th Ave. in Miami. Joel Kattan and Hernan Prohaszka of Franklin Street's Fort Lauderdale, Fla., office represented Solomon-Kalback South Building, LLC, the seller. The buyer was Galei Opa, a local company which will relocate its manufacturing operations to the facility.
GLEN ALLEN, VA. — Cushman & Wakefield — Thalhimer has negotiated the $1.67 million sale of a 13,387-square-foot office condominium in Dominion Place, located at 4300 Dominion Blvd. in Glen Allen. Austin Newman of Cushman & Wakefield Thalhimer's Richmond, Va., office represented Highwoods Services. Southern Baptist Conservatives of Virginia purchased the property, which will serve as the company's headquarters location.
KINSTON, N.C. — The Mumford Co. has negotiated the sale of the 122-unit Hampton Inn in Kinston to LRP Hotels of Carolina. The facility will undergo extensive renovations and continue to operate as a Hampton Inn. Ed James of Mumford Co.'s Newport News, Va., office and Steve Kirby of the firm's Atlanta office represented Neuse Hospitality, the seller, in the transaction.
JACKSONVILLE, FLA. — Hokanson Cos. and U.S. Federal Properties Co. have broken ground for the $56 million, 135,000-square-foot VA Jacksonville Outpatient Clinic, to be located near the Shands Jacksonville Hospital in Jacksonville. The facility will offer expanded medical services for women, primary care, radiology, two outpatient operating rooms and six endoscopy suites. Completion is slated for 2012.
MOORESVILLE, N.C. — Choate Construction has been selected to build a 310,000-square-foot plant for Niagara Bottling in Mooresville. The new plant will create approximately 66 jobs and invest $45 million into the area within the next 3 years. The facility will include multiple German fabricated injection and blow molding lines. BDG Design Group is the architect for the project.
OLIVE BRANCH, MISS. — Watson Pharmaceuticals' Anda Distribution division has planed to construct a 234,000-square-foot pharmaceutical distribution facility at Crossroads Distribution Center, located off Highway 78 in Olive Branch. Atlanta-based IDI has been selected to build the facility, which will employ approximately 70 workers when the company relocates from its current facility in Groveport, Ohio. The Mississippi Development Authority provided $23.5 million for the construction and outfitting of the facility. Completion is slated for the second quarter of 2012.
ATLANTA — Noble Investment Group has purchased the 160-room Residence Inn Midtown Atlanta, located on Peachtree Road in Atlanta, in an off-market transaction. The buyer will complete renovations of public areas and guest rooms.
FORT LAUDERDALE, FLA. — Grandbridge Real Estate Capital has secured $31.7 million in refinancing on behalf of Genesis Capital Partners XI for the 391,473-square-foot 110 Tower in Fort Lauderdale. The loan, which maintains less than a 50 percent loan-to-value ratio, was provided by Galveston, Texas-based American National Insurance Co. Tip Strickland and John Fenoglio of Grandbridge's Houston office and Al Rex of the firm's Fort Lauderdale office arranged the financing.
