DAVIE, FLA. — Strategic Storage Trust has purchased a 1,040-unit self-storage location from a private party for an undisclosed price. The company will rebrand the property, which is located on 8.4 acres at 3401 South State Road 7, as a SmartStopSM Self Storage store. The property is currently 87 percent occupied. Marcus & Millichap's Charles LeClaire and Mike Mele brokered the sale.
Southeast
POCOMOKE, MD. — BNB Bannk has sold a 9,489-square-foot Bonanza restaurant to Tres Tacuaches for $950,000. The property is located on 1.6 acres on Route 13 in Pocomoke. Henry Hanna of Sperry Van Ness – Miller Commercial Real Estate represented the seller.
LAUREL, MD. — Charlie Mentzer of Walker & Dunlop has secured a $20.20 million acquisition loan for the 220-unit Spring House Apartments in Laurel. The property, which was built in 1986, is 92.3 percent occupied. The 10-year loan carries a 30-year amortization schedule and a 78.3 percent loan-to-value ratio. John Street of Allied Mortgage & Realty Corp. originated the loan.
WASHINGTON, D.C. — The U.S. Parole Commission has signed a 36,438-square-foot lease at the 412,661-square-foot Sentinel Square I/90K Street. The Class A office property, which is located at the intersection of K and 1st streets in Washington, is owned by Trammel Crow Co., Crow Holdings Realty Partners IV and Cottonwood Partners. The tenant will move into the first and third floors early next year. The General Services Administration's Joel Bereleson and Sean McNeal assisted Studley's Neil Levy and Julie Rayfield in representing the tenant.
SIMPSONVILLE, S.C. — Sunland Distribution has signed a 337,000-square-foot lease with Trinity Capital for space in the Trinity Commerce Center. The 610,000-square-foot property is located near the interchange of highways 276 and 385 in Simpsonville. Trinity Commerce Center is now fully occupied. Ford Borders and Grice Hunt of NAI Earle Furman represented Trinity Capital. Joyner Commercial's Greg Huff represented the tenant.
ATLANTA — Bell Fund III has purchased the 318-unit The Heights at Cheshire Bridge from a private seller for an undisclosed price. Located on 11 acres of land at 2124 Cheshire Bridge Road in Atlanta, the property contains eight separate buildings and a clubhouse. Bell Partners will manage the property.
CHARLESTON, S.C. — Noble Investment Group has purchased the 126-room Holiday Inn Charleston Historic District and an adjacent land parcel from a private party for an undisclosed price. The company plans to add 50 units and 5,000 square feet of meeting space to the Charleston property and rebrand the hotel as a Courtyard by Marriott. Moeckel & Co.'s Bill Moeckel represented the seller in the transaction.
JACKSONVILLE, FLA. — Red Apple Development has purchased the 60,000-square-foot former Southern Bell Call Center from V&K Investments for an undisclosed amount. The Jacksonville property is undergoing renovation and will open in August as The Duval Charter School at Arlington. The school will serve 850 children in kindergarten through the eighth grade. Sperry Van Ness' Dan Shalloway represented the buyer. CB Richard Ellis' Bruce Jackson and Goldenseal Realty's Gary Turner represented the seller.
PALM BEACH GARDENS, FLA. — The Kolter Group has sold the 476-unit San Merano at Mirasol multifamily complex to TA Associates for $69.06 million. The Palm Beach Gardens property was constructed in 2004. CB Richard Ellis represented the seller in the transaction.
ST. PETERSBURG, FLA. — LA Fitness has leased 46,820 square feet from Regency Centers at Marketplace Shopping Center in St. Petersburg. The property is located at 6802 22nd Ave. North. The space, which is currently under construction, will feature basketball and racquetball courts, a pool, retail space and a juice bar. Delivery is slated for the first quarter of next year. The Shopping Center Group's Rebecca Hallum represented LA Fitness in the lease.