WEST PALM BEACH, FLA. — John Broussard, Douglas Mandel and Adam Kristol have represented both parties in the $5 million sale of the Century Village Medical Office. Located at 100-110 Century Blvd. in West Palm Beach's Century Village community, the office property spans 28,346 square feet. Tenet Healthcare and Walgreens rent 60 percent of the building.
Southeast
SOUTHEAST — Carlton Exchange has been retained to auction off more than $63 million in non-performing loans. The assets are located in Florida, Louisiana and Georgia, and include hospitality and other commercial properties, and land. Properties include a 130-room Days Inn and a portfolio of commercial condos in Bradenton, Fla.; a 115-room hotel in Fort Myers, Fla.; and a Holiday Inn Express in New Orleans. The online auction is ongoing on a bid-now basis.
CHARLOTTE, N.C. — Henderson Global Investors North America of Chicago has sold the 426-unit Addison Park apartment complex to a private buyer for an undisclosed price. Located at 6225 Hackberry Creek Trail in Charlotte, the property was constructed in 1999 by Fairfield Development. Blake Okland and Dean Smith of Apartment Realty Advisors' Charlotte office represented the seller.
PEMBROKE PINES, FLA. — Demeter Pembroke Pines has purchased a 7.64-acre vacant land parcel in Pembroke Pines from Duke Realty Corp. for $4.65 million. The company intends to develop the parcel, which is located at the northeast corner of Interstate 75 and Pembroke Road, as a Keiser University campus. NAI Rauch Weaver Norfleet Kurtz & Co.'s Michael and Jennifer Scarpino represented the buyer. Richard Levinson of CB Richard Ellis represented Duke Realty.
KNOXVILLE, TENN. — Tammy Tate of Love Funding has arranged two loans totaling $10.87 million for apartment properties in Knoxville. Tate secured $5.436 million for the 252-unit Sutter Mill Apartments, which is located at 1101 Sutters Mill Lane. Amenities include a pool and activity courts. A $5.437 million loan was secured for the 235-unit Meadowood Apartments, which is located at 4000 Pleasant Ridge Road. The 35-year loans carry a 4.63 percent interest rate.
NASHVILLE, TENN. — Mid-America Apartment Communities has purchased the 336-unit Verandas at Sam Ridley apartment complex from a private seller for $32 million. The property is located at the intersection of Interstate 24 and Sam Ridley Parkway in Nashville.
HAYMARKET, VA., AND WASHINGTON, D.C. — Velmeir Cos., the preferred developer of CVS/pharmacy stores, has expanded into the D.C.-area market by opening two stores. A 13,013-square-foot CVS is located on Route 15 in Haymarket; the other, a 10,181-square-foot store, is located at the intersection of Georgia and New Hampshire avenues in Washington. The company is planning more stores in the area.
ST. AUGUSTINE, FLA. — SIG Partners has purchased a 36-unit unfinished condo building from an undisclosed bank for $2.2 million. The foreclosed property, which was named Gulf View, is located on a golf course in St. Augustine. SIG plans to invest $1.3 million to finish the project, which is more than 80 percent complete, and build a pool. ShelbyCFM's Brett Roark and Crown Capital Group's John Bielefeldt served as advisors.
KNOX COUNTY, TENN. — RLR Investments has sold the 113,000-square-foot R&L manufacturing facility to Dew Properties for an undisclosed amount. The property is located in Knox County's Forks of the River Industrial Park. Baker Realty Co. represented the seller.
STERLING, VA. — First Potomac Realty Trust has broken ground on a 56,900-square-foot flex building in the 495,000-square-foot Sterling Park Business Center off Route 28 in Sterling. MSI Worldwide Mail will occupy 24,200 square feet in the property, which is 43 percent pre-leased. Gaithersburg, Md.-based DVA Architects designed the project to sustainable standards.