WASHINGTON, D.C. — First Potomac Realty has purchased the 129,035-square-foot office property at 500 1st St. NW in Washington from AREA Property Partners Value Enhancement Fund VII for $68 million. AREA purchased the property with Van Ness Property Group in 2008 for $44.9 million. The Federal Bureau of Prisons leases the entire building.
BRADENTON, FLA. — TGM Associates has purchased the 392-unit Yacht Club at Heritage Harbor from Bainbridge Communities and their institutional partner for $43.5 million. The Yacht Club, which was completed in 2007, is spread across 20, three-story buildings. The Bradenton multifamily property features a clubhouse, a pool, a fitness salon, two lakes and athletic courts. Jamie May and Matt Mitchell of Marcus & Millichap represented the seller.
JACKSONVILLE, FLA. — Comcast has leased 80 percent of a 106,253-square-foot office from Flagler in an 11-year, $22 million deal. The property is located in the Deerwood North business park at 4600 Touchton Road in Jacksonville. Deerwood is comprised of four Class A office buildings totaling 500,000 square feet. David Fahey of Binswanger Commercial represented Comcast. Flager was represented internally by Ross Carrier.
RICHMOND, VA. — Bigge Crane & Rigging has purchased a 20,000-square-foot warehouse from Speight for $1.7 million. The property is located at 2350 and 2400 Maury St. in Richmond. Bigge will use the property as its new East Coast headquarters. Thalhimer's Franklin Bell brokered the sale.
LAKELAND, FLA. — An undisclosed national bank has sold the 59,102-square-foot Highlands Storage to a private party for $1.25 million in an REO sale. The property is located at 4733 Exploration Ave. in Lakeland. Michael Mele of Marcus & Millichap's Tampa, Fla., office brokered the sale.
MIAMI — NGP Fund V has purchased a four-property Florida office portfolio totaling 196,915 square feet from South Florida Federal Partners for $95.1 million. The Miami properties include a 60,157-square-foot building located at 8801 NW 7th Ave.; a 45,911-square-foot building located on SW 120th St.; and a 41,064-square-foot building located on Miami Gardens Drive. One 28,667-square-foot property is located on 31st Ave. in Oakland Park. United States Citizenship and Immigration Services lease the buildings under a 15-year agreement. Hermen Rodriquez and Ike Ojala of Holliday Fenoglio Fowler's Miami office brokered the sale.
DELAND, FLA. — A limited liability company based in Florida has sold the 56-unit Laurel Oaks apartment complex to a private investor for $1.65 million. The property is located on 5.58 acres at 650 North Boundary Road in DeLand. Michael Donaldson of Marcus & Millichap represented the seller.
SARASOTA, FLA. — MyUS.com has leased 60,000 square feet of warehouse space from Meridian Development Group in the firm's 1 million-square-foot Meridian Distribution Center. The tenant's space at the Sarasota property allows it to occupy 40,000 additional square feet. The move, which is a consolidation of two existing locations, brings 60 new jobs to the county. Ian Black Real Estate's Steve Horn represented MyUS.com. Cushman & Wakefield's Tim Callahan represented the landlord.
HOWARD COUNTY, MD. — Bavar Properties Group has broken ground on the 164-unit The Enclave at Emerson multifamily complex. Located off Gorman Road in Howard County, the 8.2-acre property will include both luxury apartments and townhomes. The firm also is constructing a 5,000-square-foot clubhouse that will include a business center, a fitness center, a theater room and a billiards room.
BALTIMORE COUNTY, MD. — Holland Construction Corp. has broken ground on the first phase of the 80-unit Patapsco Overlook, a complex for adults aged 55 and older. The Active Adult property, located off Thistle Road in Baltimore County, is being developed by J. Kirby Development. Amenities include grill and picnic areas, and a car wash. The development schedule of future phases will be dictated by the success of the initial phase.