DORAL, FLA. — PS Business Parks has completed vertical construction of a 75,000-square-foot warehouse in Doral. The Class A property is located in the Miami International Commerce Center at 8216 NW 14th St. The building is divisible into units ranging from 3,000 square feet to 7,000 square feet.
CHARLOTTE, N.C. — Concorde Construction has completed work on The Hilton Garden Inn Charlotte/Concord, which is located off Exit 49 of Interstate 85 in Charlotte. The six-story building contains 118 rooms and is the first of the brand to feature a newly redesigned Pavilion, the hotel's signature lobby. The owner is locally based Griffin Stafford Lodging One, which is also developed a Home 2 Suites by Hilton in Mooresville, N.C. Griffin Stafford's management subsidiary will manage the hotel.
TYSONS CORNER, VA. — Behringer Harvard has purchased The Lofts at Park Crest, which consists of a 131-unit apartment complex and a 66,600-square-foot Harris Teeter, from a private party for an undisclosed price. Located at 8210 Crestwood Heights Drive in Tysons Corner, the 2-year-old property sits on 2.7 acres of land. Complex features include a 3,000-square-foot athletic club and a rooftop pool.
WASHINGTON, D.C. — ICG Properties, Castleton Holdings and Capella Hotels and Resorts will begin developing the 48-unit Capella Georgetown hotel in January 2011. The property, which will be located on 31st Street in the Georgetown area of Washington, is set for delivery in January 2012. Construction will involve the redevelopment of an existing five-story commercial building.
GREENVILLE, N.C. — Troy Legge of Sperry Van Ness|Lighthouse Commercial Realty represented an undisclosed seller in the $6.2 million sale of a Walgreens to a private buyer. The 14,490-square-foot property is located on 1.3 acres in Greenville. Walgreens has a 25-year absolute net lease on the building. The institutional buyer represented itself in the transaction.
ORLANDO, FLA. — The Fisher Auction Co. and Cushman & Wakefield have completed the $25.9 million bankruptcy sale of 165 condominium units and 8,000 square feet of retail space to an undisclosed buyer. The 375-unit Vue at Lake Eola is located in downtown Orlando. Nine prospective buyers participated in the auction, which had a minimum bid of $20 million.
BIRMINGHAM, ALA. — East Lansing, Mich.-based Mill Steel has leased 122,000 square feet of warehouse space from an undisclosed landlord at the Birmingham Food Terminal and Distribution Center. The company will generate 30 new jobs at the Birmingham facility. EGS Commercial Real Estate's Marc Eason represented the landlord in the lease. John Clisby of Engel Realty Co. represented Mill Steel.
BOCA RATON, FLA. — 140 N. Federal Highway LLC has purchased a 7,580-square-foot BB&T Bank Building from Seacoast National Bank for $2.9 million in an REO sale. The property is located at 140 N. Federal Highway in Boca Raton. Scott O'Donnell, Dominic Montazemi, Kirk Nelson and Moguel Alcivar of CB Richard Ellis brokered the sale.
WINTER PARK, FLA. — Winter Park-based Freedom Holding Co. has purchased a 5,600-square-foot office building from The Benton Aubourne Irrevocable Trust for $1.15 million. The property is located at 831 W. Morse Blvd. in Winter Park. NAI Realvest's Jack Lynch brokered the sale.
STARKVILLE, MISS. — Wood Partners has sold the 240-unit 21 Apartments in Starkville to McKinney Properties for an undisclosed price. The private student housing complex, built in 2006, is located near Mississippi State University and was 98 percent leased at the time of sale. Ryan Reid, national student housing director for CB Richard Ellis, along with Blake Pera of CBRE Memphis, negotiated the sale of the property for Wood Partners. CBRE’s James Tramuto and David Meese provided the debt financing services on behalf of McKinney Properties by securing a 10-year Freddie Mac fixed-rate loan with 2 years of interest-only payments, followed by a 30-year amortization schedule.