MIAMI — BlackRock Realty has leased 144,000 square feet to Econocaribe Consolidators in the Airport East Distribution Center in Miami. The warehouse is located at 7000 NW 32nd Ave. The 50-year-old Airport East Distribution Center spans 400,000 square feet. The tenant is relocating one of its freight-forwarding operations from another Miami address. Grubb & Ellis brokered the lease.
ARLINGTON, VA. — Insight Property Group has purchased a 48-unit apartment complex in Arlington from a private seller for $6.2 million. The property is located at 1200 Rolfe St. North. Mark Anstine and Dan Lockard of Fraser Forbes Real Estate Services represented the seller in the transaction.
CARY, N.C. — Arbor Commercial Funding has secured a $22 million loan for the 302-unit Brook Arbor Apartments in Cary. The Fannie Mae DUS loan carries a 10-year term and a 30-year amortization. The interest rate is 5.68 percent. Joseph Donovan of Arbor arranged the loan.
FOREST PARK, GA. — TricorBraun has signed a 125,000-square-foot warehouse lease with DCT Industrial in Atlanta's airport submarket. The property is located at 260 Southfield Parkway in Forest Park. Ed Riggins of CresaPartners represented the tenant in the transaction. Tommy Hughes of Hughes Commercial Real Estate represented DCT Industrial.
MIAMI — Keiser University has leased a new 90,000-square-foot building from Procacci Development Corp. for the relocation of its Kendall campus. The build-to-suit is located in Crossroads at Dolphin Commerce Center in Miami. The office park spans 438,000 square feet in four, Category 5 hurricane-resistant buildings.
BRANDYWINE, MD. — Exeter Property Group has purchased a 393,440-square-foot warehouse from Capital Development Co. of Lacey, Wash., for $11 million. Located at 14301 Mattawoman Drive, the property was formerly occupied by Circuit City and is currently leased by hhgregg. Matthew Laraway and Ned Brady of Cushman & Wakefield represented the seller. Exeter had in-house representation.
GAINESVILLE, GA. — V&V Real Estate has sold a 123,948-square-foot Lowe's Home Improvement Center and 12.96 acres of land to a private buyer for $7.2 million. The property is located at 1514 Skelton Road in Gainesville. Tim Giambrone of Marcus and Millichap's Atlanta office brokered the sale.
FROSTPROOF, FLA. — Dimara Corp. has sold the 34-acre Frostproof Retreat to Lomas Del Sol for $1.05 million in a transaction that took nearly 2 years to complete. The Frostproof property features a 6,000-square-foot building, a mobile home and six outbuildings, and it will be used as an H2A Farm Labor Housing facility. Greg Smith, Clay Taylor, David Hitchcock and Darby Craddock of Coldwell Banker Commercial Saunders Real Estate brokered the sale.
MIAMI — The City of Miami Omni Community Redevelopment Agency has approved funding for the remediation of 8 acres of the 29-acre Museum Park parcel. The Miami project, which is scheduled to be completed in November, will pave the way for the future Miami Art Museum and the 250,000-square-foot Miami Science Museum buildings.
MIAMI — Coastal Construction Group has completed the 370,000-square-foot Miami Carol City High School in Miami. The Miami property, which was finished 4 months ahead of schedule, is the second phase of a three-phase project, which also included construction of a 34-classroom building and calls for the demolition of the existing school and the construction of new athletic fields. Students will start at Miami Carol City High School this August.