OSPREY, FLA. — Fort Myers, Fla.-based J.L. Wallace Inc. has completed the construction of a CVS/pharmacy location at Blackburn Point and U.S. Highway 41 in Osprey. The 13,013-square-foot project includes a drive-thru area, an extensive aluminum storefront work, automatic glass doors, a prefabricated entry trellis, a single-ply roof system over lightweight concrete, building signage, a compactor enclosure and monument signs. Additionally, the project included extensive site work and the interior features detailed cabinetry, shelving, fixtures and graphics, security grills, an overhead door, resilient flooring, carpeting, coolers/freezers, a fire system and an alarm system. Robert Reid Wedding Architects and Planners provided architectural services for the project, while Foresite Group provided engineering services. The project was contracted with Armstrong Development Properties.
CHARLESTON, S.C. — Walker & Dunlop has provided $17.2 million in non-recourse construction financing for renovations to the Holiday Inn located at the intersection of Calhoun and Meeting streets in downtown Charleston's Historic District. Noble Investment Group, which acquired the 126-room property earlier this month, plans to add 50 units and 5,000 square feet of meeting space to the hotel. It will also be rebranded as a Courtyard by Marriott. The loan carries a 5-year term with 2 years interest-only payments as well as a 25-year amortization schedule. Andrew Coleman of Walker & Dunlop led the team that procured the financing.
JACKSONVILLE, FLA. — The Paul and Eleanor Sade Trust has purchased a 254,297-square-foot warehouse property from Ascension I Jax for $10.65 million. The property is located at 6831-35 Stuart Ave. and 6830 Highway Ave. in Jacksonville. Miller International's Bob Miller represented the buyer in the transaction. Bobby Gatling, Bryan Bartlett and John Richardson of Grubb and Ellis|Phoenix Realty Group represented the seller.
LAFAYETTE, LA. — A private developer has sold the 25,220-square-foot Siemens Water Technologies Corp. building to an undisclosed buyer for $2.78 million. The single-tenant, net-leased property is located at 411 Commercial Blvd. in Lafayette. Marcus & Millichap's Sam Hanna represented the seller. The firm's William Hoffpauir assisted in brokering the sale.
WADESBORO, N.C. — Marcus & Millichap has brokered the $1.62 million sale of the 7,762-square-foot Fresenius Medical Care building between two undisclosed parties. The property is located at 2349 US Highway 74 West in Wadesboro. The firm's Scott Niedergang, Brian Parmacek and Steve Rachman represented the seller. James Rea and Brian Munn of the firm's Atlanta office represented the buyer. Gary Lucas also helped close the deal.
SNELLVILLE, GA. — RJ Griffin and Co. has started construction on a 40,162-square-foot office building on the Emory Eastside Medical Center campus in Snellville. The property, which is being developed by BremnerDuke Healtcare Real Estate, will house a spine center and office space for neurosurgical and endocrine specialists. Construction of the building was necessary because the two other medical office buildings at the site are currently fully occupied. Lyman Davidson Dooley designed the project, which will deliver by July 2011.
CHARLOTTE, N.C. — Madison Marquette has purchased an ownership stake in Charlotte's Morrison mixed-use project for an undisclosed amount. The property, which is located in the SouthPark area, was built by Casto Lifestyle Properties in partnership with Grubb Properties. Morrison features 214 apartment units, 121 condominiums and a retail portion that is anchored by Earth Fare Organic Grocer and Barnes & Noble Booksellers. The project's first phase opened in 2006.
NAPLES, FLA. — Neopolitan Ventures has purchased a 25,405-square-foot office from Rambeh for $2.98 million. The property is located at 6610 Willow Park Drive in Naples. David Stevens and Clint Sherwood of IPC brokered the transaction.
LAKE CHARLES, LA. — Cortland Partners is fast at work on the $25 million first phase of the West M Apartments in Lake Charles. The initial phase will contain 222 units on 23 acres of land at 1330 W. McNeese St. Amenities will include an infinity-edge pool, a fitness center, a café and a theater. JH+P Architects of Dallas designed the project, and M&T Capital Realty Corp. provided financing. Future phases will bring the number of apartment units to 330.
LEXINGTON, N.C. — United Furniture Industries has purchased a 362,595-square-foot Stanley Furniture distribution facility from an undisclosed party for $1.14 million. The property is located at 2 Hackney St. in Lexington. Doug Faris of Binswanger's Charlotte, N.C., office brokered the sale.