HOUMA, LA. — Jones Lang LaSalle has negotiated the $8.5 million sale of the 98,586-square-foot Houma Power Center, located at 1550 Martin Luther King Blvd. in Houma. Old Navy, Michaels and Burke's anchor the center, which is fully leased. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta office represented Kimco Realty Corp., the seller, in the transaction. The buyer was New Orleans-based Property Management Group.
Southeast
CHESAPEAKE, VA. — Cushman & Wakefield — Thalhimer has brokered the $1.12 million sale of a 9,000-square-foot retail property, located at 4124 Chesapeake Square Blvd. in Chesapeake, which was formerly Paradocks Restaurant. Andy Stein of Cushman & Wakefield — Thalhimer's Virginia Beach, Va., office represented Bank of the Commonwealth, the seller, in the transaction, and Troy Parker of the same off represented the buyer, T2 Chesapeake Square, who is redeveloping the property for retail use.
JACKSONVILLE, FLA. — Grandbridge Real Estate Capital has arranged a $72 million, first mortgage loan for the 1,112-unit Paradise Island, located at 878 Southside Blvd. in Jacksonville. Taylor Williams of Grandbridge's Jacksonville office arranged the 7-year loan, which is interest-only for the first 2 years and then amortizes on a 30-year schedule, through Freddia Mac's CME Early Rate Lock.
ATLANTA — Atlanta-based McCarthy Building Cos. has been selected for the $42 million, 140,000-square-foot Kaiser Permanente's Glenlake Comprehensive Medical Center, located at 20 Glenlake Pkwy. in Atlanta. Construction will begin the second quarter of 2012 and will include the addition of 100,000 square feet to the existing facility, as well as the renovation of 40,000 square feet. With these improvements, the facility will be equipped to provide around-the-clock medical care and services. Completion is slated for March 2014.
CARY, N.C. — Bell Partners has purchased the 360-unit Century Preston Reserve Apartments, a Class A apartment community located at 200 Berwick Valley Ln. in Cary, for $40.5 million. Bell plans to manage the property, which will be renamed Bell Preston Reserve.
LAWRENCEVILLE, GA. — Atlanta-based Carroll Organization has purchased the 222-unit Carrington Place Apartments, located at 156 Bethesda Church Rd. in Lawrenceville, from Atlanta-based Davis Development for an undisclosed price. Colliers International represented the seller in the transaction.
CHARLESTON, S.C. — Chaleston-based One Eleven Partners has brokered the sale of the 200-unit Ashley Crossing Apartments, located at 2235 Ashley Crossing Dr. in Charleston. Chris Yeagle of One Eleven represented the seller, GS Ashley Crossing, in the transaction.
HANOVER, MD. — DTLR has signed a 139,690-square-foot lease for a warehouse facility, located at 7458 Candlewood Rd. in Hanover. DTLR is consolidating its office and warehouse operations at the property. Ben Meisels, Matt Larraway and Mike Elardo of Cushman & Wakefield's Baltimore office represented First Potomac Realty Trust, the landlord, in the lease transaction. Mike Roden and John Wilhide of CB Richard Ellis' Baltimore office represented the tenant.
COLUMBUS, GA. — The U.S. Department of Housing and Urban Development has committed to insure a $210 million mortgage loan to the 376-bed St. Francis Hospital, a hospital and 60-bed assisted living facility located at 2122 Manchester Expressway in Columbus. The loan, which is being provided through FHA's Section 242 Hospital Mortgage Insurance Program, will be used to renovate a portion of the existing facility, construct a new patient tower and medical office building, purchase new equipment and refinance a $50 million debt.
DOUGLASVILLE, GA. — Marcus & Millichap has arranged the $32.8 million sale of a 352,073-square-foot Wal-Mart Supercenter and Sam's Club, located at 7001 Concourse Pkwy. in Douglasville. Craig Johnson of Marcus & Millichap's Atlanta office represented the seller, a California-based investor, and procured the buyer, a private REIT. The base triple-net lease term for the buildings goes through November 2019 with six 5-year options.