BALTIMORE — PNC Financial Services Group has leased 119,000 square feet of space at One East Pratt Street in Baltimore. The company will relocate there in July 2012 from its current Baltimore location at Two Hopkins Place. In addition to office space, the lease includes 7,000 square feet on the first floor for a PNC Bank. Kevin Wille of CB Richard Ellis' Baltimore office represented the landlord, a joint venture between Griffith Properties and Fremont Realty Capital, and Courtenay Jenkins of Cushman & Wakefield's Baltimore office and John Hennessey of GVA/Williams represented the tenant.
BESSEMER, ALA. — Atlanta-based RCG Ventures has acquired the shopping center 59 West, located in Bessemer, right outside of Birmingham. Burke’s Outlet, Hibbett Sports and Shoe Show anchor the center. Marcus & Millichap represented the seller, a special servicer, and RCG was self-represented.
TALLAHASSEE, FLA. — San Antonio-based Lynd has purchased an $80 million portfolio of distressed student housing properties in Tallahassee from Florida-based LNR Property for an undisclosed price. The portfolio contains nine student apartment buildings, seven of which are distressed notes and two of which are bank-owned properties, totaling 1,785 units and 1.75 million square feet. The properties were listed and marketed by Holliday Fenoglio Fowler's New York office.
FORT LAUDERDALE, FLA. — Miami-based Colliers International South Florida has completed the sale of the 3.67-acre Las Olas Riverfront, located at 300 SW 1st Ave. in Fort Lauderdale, for $16.7 million. The property contains a 244,667-square-foot, open-air retail center. John Crotty, Mia Stierheim and Michael Fay of Colliers International South Florida represented Las Olas Riverfront, L.P., the buyer. Achikam Yogev, also of Colliers International South Florida, represented CRE Las Olas Riverfront, the seller. The buyer plans to reposition the property, which offers potential opportunity to develop up to 1.3 million square feet of residential, office, retail and hotel accommodations, with the right to apply for additional square footage and use rights through the City of Fort Lauderdale and Broward County.
LAURENS COUNTY, S.C. — Roncello, Italy-based Flame Spray S.p.A. has purchased a 31,160-square-foot building, located in the Woodfield Industrial Park in Laurens County, for their first and only North American production plant, which will be a $9.2 million facility. Kevin Bentley of Lee & Associates' Greenville, S.C., office represented the buyer.
ADAMSVILLE & JASPER, ALA. — The Shopping Center Group facilitated the sale of two former Food World buildings, located in Adamsville and Jasper, on behalf of INSOUTH Bank to Yazoo City, Miss.-based Action Properties. The two REO properties total 105,000 square feet. In Adamsville, the 45,720-square-foot property is located at the 4.4-acre West County Marketplace. Tenants include Goody's, Cato, Dollar Tree, Hibbett Sports and Anytime Fitness. In Jasper, the 60,000-square-foot property is situated on approximately 6 acres at the southeast quadrant of US Highway 78 and Airport Road, across from Jasper Square Shopping Center. Tenants include Ashley Home Furniture, Pet Depot, CVS/pharmacy and Burger King. Will Akin and Neal Owens of the Birmingham, Ala., office orchestrated the transactions.
MIAMI — Pebblebrook Hotel Trust has acquired the 148-room Viceroy Miami, located on Brickell Avenue in downtown Miami, for $36.5 million. Amenities of the hotel include a 28,000-square-foot spa, 4,000 square feet of meeting space and a two-acre outdoor park that includes a wading pool, thermal hot tub and Olympic-length lap and recreational infinity pool overlooking Biscayne Bay. Viceroy Hotel Group will continue to manage the property.
LAND O' LAKES, FLA. — Collier Commons of Pasco has sold the 187,132-square-foot Collier Commons Shopping Center, located at the intersection of State Road 54 and Collier Parkway in Land O' Lakes, to Lakeland, Fla.-based Publix Supermarkets for $28 million. The center is anchored by a 60,667-square-foot Publix and a 66,355-square-foot Belk. Other tenants include Walgreens, Chili's and Verizon. Karl Johnston of The Capital Markets Group of Cushman & Wakefield's Jacksonville, Fla., office and Patrick Berman of the Tampa, Fla., office represented the seller and the buyer was self-represented.
MT. PLEASANT, S.C. — Woodfield Investors has acquired 32 acres of land in Wando Park in Mt. Pleasant to develop the 258-unit Woodfield Long Point. Amenities will include a 7,300-square-foot clubhouse, world class fitness center, business office, yoga room and a media center. The project development includes The Housing Studio as the architect, Seamon Whiteside + Associates as the civil engineer, Design Resource Group as the land planner and CF Evans as the general contractor.
GREENSBORO, N.C. — Bell Fund III and a group of private investors have acquired the 232-unit Arbors at Landmark Apartments, located in Greensboro, for $17.4 million from Landmark SCP and Landmark MCT, who are managed by Montgomery, Ala.-based B&M Management. Bell plans to renovate the property by upgrading some of the apartments, remodeling the clubhouse, purchasing new equipment for the fitness center and re-landscaping. The complex will also be renamed Bell Bridford. David Gutting of Jones Lang LaSalle's Atlanta office brokered the transaction.