BOYNTON BEACH, FLA. — David Schofield of NorthMarq Capital's Orlando, Fla., office has closed $33.85 million in construction financing for the 308-unit Gulfstream Gardens, a Class A development in Boynton Beach. NorthMarq arranged the financing on behalf of the developer through syndication between an international and regional bank.
Southeast
BUENA VISTA, VA. — Hunter Defense Technologies (HDT Global) has signed a full-building lease totaling 172,759 square feet for the Shenandoah Valley Industrial Facility, located at 3200 Green Forest Dr. in Buena Vista. John Lesinski and Josh Gurland of Winchester, Va.-based The Leland Group represented BPG Properties, the landlord, in the lease transaction.
FORT WALTON BEACH AND DESTIN, FLA. — Columbus, Ga.-based Victory Real Estate Investments has purchased two shopping centers in Florida in two separate transactions for a total of $34.4 million. Victory bought the 300,194-square-foot Uptown Station, located at 99 Eglin Pkwy. in Fort Walton Beach, from Destin-based Crystal Beach Development for $26.9 million. Winn Dixie, Ross Dress for Less, West Marine and Party City anchor the center, which is 97 percent leased. Chris Abbott of Destin Real Estate Co. represented the seller in the transaction. Additionally, Victory acquired the 84,682-square-foot 98 Palms in Destin for $7.5 million at a foreclosure auction. Winn Dixie anchors the center.
POOLER, GA. — A joint venture between H.J. High Construction Co. and Batson-Cook Co. has been selected to build the $16 million, 74,000-square-foot Bay 4, which will be Phase III of the Mitsubishi Power Systems Americas Savannah Machinery Works development, located off of Interstates 16 and 95 in Pooler. The facility will be used for gas turbine and steam turbine assembly activities. The project is slated for completion in March 2012.
ST. SIMONS ISLAND, GA. — A joint venture between Atlanta-based Paces Properties and Somera Capital Management has purchased the 108,000-square-foot Retreat Village Shopping Center, located in St. Simons Island, from RVMC for $8 million. Fred Freyer of St. Simons-based Don Wright & Associates represented the buyer in the transaction. John Hampton of White Oak Real Estate Advisors arranged joint venture equity for the transaction. The joint venture will invest approximately $1 million for renovations at the center, which will include a new facade, updated exterior lighting and the addition of decorative awnings and architectural pilasters.
SUNRISE, FLA. — RSM Sunrise Properties has purchased a 19,600-square-foot industrial building, located at 4615 N.W. 103rd Ave. in Sunrise, from Anthony Carlone and Frank Carlone for $1.51 million. Stephen Heim and Franklin Morrison of Fort Lauderdale, Fla.-based NAI Rauch Weaver Norfleet Kurtz & Co. represented the sellers in the transaction. Robert Listokin and Peyton Moore of Colliers International's Fort Lauderdale office represented the buyer.
TAMPA, FLA. — Marcus & Millichap has brokered the $1.2 million sale of the 12,879-square-foot Settler's Pointe Office Complex, located at 14914 Winding Creek Ct. in Tampa. Moe Derbala of Marcus & Millichap's Tampa office represented the seller, a Florida-based private investor, and secured the buyers, Seminole, Fla.-based private investors.
COMMERCE, GA. — A joint venture between Hillwood Investment Properties and Brookfield Real Estate Opportunity Fund II has purchased a 962,280-square-foot distribution facility, located at 1523 Steve Reynolds Industrial Blvd. in Commerce, from a joint venture between Aegon and Tucker, Ga.-based Rooker & Associates for an undisclosed price. Hillwood and Brookfield plan to invest $1.2 million in building improvements to offer the facility for leasing. Todd Barton and Greg Haynes of CB Richard Ellis' Atlanta office represented the buyer in the transaction. John Rooker and Murray Reavis of Rooker & Associates represented the seller.
MIAMI — Marcus & Millichap has negotiated the $1.3 million sale of the 28-unit Sunnyside Apartments, located at 15001 NE 6th Ave. in Miami. Felipe Echarte, Jr., and Joseph Thomas of Marcus & Millichap's Ft. Lauderdale office represented the seller, a Miami-based private investor, and secured the buyer, a limited liability company.
COLONIAL HEIGHTS, VA. — Cushman & Wakefield — Thalhimer has arranged the $1.1 million sale of a 22,657-square-foot retail property, located at 1823 Southpark Blvd. in Colonial Heights. CHVA Properties purchased the former Circuit City building from 1823 Southpark LLC. Connie Nielsen of Cushman & Wakefield — Thalhimer represented the seller in the transaction.