ORLANDO, FLA. — DCT Industrial Trust has purchased a three-building industrial portfolio in Orlando, totaling 421,000 square feet, from an undisclosed seller for $17 million in an off-market transaction. The properties include the 212,000-square-foot 6855 Presidents Drive, the 115,000-square-foot 2105 Viscount Row and the 94,000-square-foot 2126 West Landstreet. The buildings are currently 61 percent leased.
SANDY SPRINGS, GA. — Marietta, Ga.-based Columbia Properties has acquired the 63,000-square-foot Trowbridge Crossing Shopping Center, located at the corner of Roswell and Trowbridge Roads in Sandy Springs, from Charter Hall REIT for $6.7 million. Publix anchors the center, which is fully leased.
COLUMBIA, S.C. — SC Student Loan Corp. has purchased a 40,122-square-foot office building, located at 8906 Two Notch Rd. in Columbia, from Markstein — Two Notch Rd. for $3 million. Martin Moore, Aaron Dupree and Marie Dieckmann of Columbia-based CB Richard Ellis — Columbia represented the seller in the transaction, and Billy Way of Columbia-based Grubb & Ellis Wilson Kibler represented the buyer.
ARLINGTON, VA. — Cassidy Turley has brokered the $145 million sale of a 303,262-square-foot Class A office building, located at 1616 N. Fort Myer Dr. in Arlington. The GSA anchors the building, which is fully leased. Bill Collins, Paul Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy Turley's Washington, D.C., office represented Beacon Capital Partners, the seller, in the transaction. TIAA-CREF was the buyer.
ORLANDO — ARA has negotiated the $31 million sale of the 366-unit Pine Harbour, located at 10600 Bloomfield Dr. in Orlando. Kevin Judd of ARA's Orlando office, Marc deBaptiste of ARA's Boca Raton, Fla., office and Patrick Dufour of ARA's Tampa, Fla., office represented the undisclosed institutional seller in the transaction. The buyer was Saint-Lambert, Canada-based L.S.R. Development.
RICHMOND, VA. — Gilbane Development Co. has completed the 540-bed 8 1/2 Canal Street, a student housing development at Virginia Commonwealth University in Richmond. The property is located across the street from VCU's recent $228 million Monroe Park Campus expansion. Amenities include a 24-hour fitness center, cyber cafe, gaming center and clubhouse.
BALTIMORE CITY, MD. — NAI KLNB Retail Investment Sales has arranged the $4.55 million sale of a 32,000-square-foot, eight-building retail portfolio, located at 2213-2241 Monument St. in Baltimore City. The property is fully leased. Gil Neuman of NAI KLNB's Ellicott City, Md., office represented Miller Real Estate Co., the seller, in the transaction and Jim Caronna of NAI KLNB's Towson, Md., office represented Washington, D.C.-based Spectrum Properties, the buyer.
WASHINGTON, D.C. — Washington, D.C.-based Urban Investment Partners (UIP) has purchased the 52-unit Meridian Hill, located at 2359-2401 Ontario Rd. in Washington, D.C., for $4.2 million. UIP will begin a $2.4 million renovation that will include upgrading, repairing and restoring common areas, as well as plumbing, heating, cooling and electrical systems. Ari Firoozabadi of Marcus & Millichap's Bethesda, Md., office represented Ontario Partners, the seller, in the transaction.
NASHVILLE, TENN. — Franklin, Tenn.-based Southern Land Co. has broken ground for Elliston 23, a $50 million, mixed-use development project located at 2300 Elliston Place in Nashville. The property will feature 331 multifamily units, a 15,000-square-foot retail and restaurant component, and will be built to LEED Silver certification standards. Completion is slated for fall 2012.
ATLANTA — North Point Hospitality Group has broken ground on a 226-unit, dual-branded Hilton Garden Inn and Homewood Suites by Hilton Hotel, located at the northeast corner of 10th and Williams streets. Amenities include a restaurant and lounge, outdoor pool and spa, a fitness center and valet parking. The hotel is expected to open in the first quarter of 2013.