BETHESDA, MD. — Bainbridge Cos. and Restis Group will break ground this fall on a 200-unit apartment complex in downtown Bethesda. National Real Estate Advisors will provide additional equity for the project. Initial occupancy is slated for fall 2012.
Southeast
HOLLYWOOD AND DANIA BEACH, FLA. — Sperry Van Ness has brokered two industrial sales in Florida totaling $4.4 million. In the first sale, SVN's Les Byron represented Bayly in the sale of the Bayly Building to 4151 Property for $2.4 million. Located at 4151 N. 29th Ave. in Hollywood, the property spans 26,800 square feet. Beachfront Realty's Dee Price represented the buyer. Steve Davis of Sperry Van Ness represented Carib in its sale of the Tile International building to RDRW Properties for $2 million. Located at 101 SW 12th Ave. in Dania Beach, the property spans 30,000 square feet. Dan Smith of Smith Moses, Morris & Associates represented the buyer.
BRASELTON, GA. — TranSouth Logistics has leased 190,000 square feet of warehouse space from Atlanta Property Group in Braselton. The 455,000-square-foot property is located at 1001 Cherry Drive. Bill Buist and Price Weaver of Colliers International represented the landlord.
MIAMI — BlackRock Realty has leased 144,000 square feet to Econocaribe Consolidators in the Airport East Distribution Center in Miami. The warehouse is located at 7000 NW 32nd Ave. The 50-year-old Airport East Distribution Center spans 400,000 square feet. The tenant is relocating one of its freight-forwarding operations from another Miami address. Grubb & Ellis brokered the lease.
ARLINGTON, VA. — Insight Property Group has purchased a 48-unit apartment complex in Arlington from a private seller for $6.2 million. The property is located at 1200 Rolfe St. North. Mark Anstine and Dan Lockard of Fraser Forbes Real Estate Services represented the seller in the transaction.
CARY, N.C. — Arbor Commercial Funding has secured a $22 million loan for the 302-unit Brook Arbor Apartments in Cary. The Fannie Mae DUS loan carries a 10-year term and a 30-year amortization. The interest rate is 5.68 percent. Joseph Donovan of Arbor arranged the loan.
FOREST PARK, GA. — TricorBraun has signed a 125,000-square-foot warehouse lease with DCT Industrial in Atlanta's airport submarket. The property is located at 260 Southfield Parkway in Forest Park. Ed Riggins of CresaPartners represented the tenant in the transaction. Tommy Hughes of Hughes Commercial Real Estate represented DCT Industrial.
MIAMI — Keiser University has leased a new 90,000-square-foot building from Procacci Development Corp. for the relocation of its Kendall campus. The build-to-suit is located in Crossroads at Dolphin Commerce Center in Miami. The office park spans 438,000 square feet in four, Category 5 hurricane-resistant buildings.
BRANDYWINE, MD. — Exeter Property Group has purchased a 393,440-square-foot warehouse from Capital Development Co. of Lacey, Wash., for $11 million. Located at 14301 Mattawoman Drive, the property was formerly occupied by Circuit City and is currently leased by hhgregg. Matthew Laraway and Ned Brady of Cushman & Wakefield represented the seller. Exeter had in-house representation.
GAINESVILLE, GA. — V&V Real Estate has sold a 123,948-square-foot Lowe's Home Improvement Center and 12.96 acres of land to a private buyer for $7.2 million. The property is located at 1514 Skelton Road in Gainesville. Tim Giambrone of Marcus and Millichap's Atlanta office brokered the sale.