HAMPTON, VA. — Allen Management has sold a 72-room Econo Lodge in Hampton to a local investor group for an undisclosed amount. The buyer will operate the hotel as an independent brand. David Mumford and Brian McCutcheon of Mumford Co.'s Newport News, Va., office brokered the sale.
FLORIDA — Greensboro, N.C.-based Bell Partners has sold three shopping centers in Florida to three private parties for $24.77 million. The 70,070-square-foot Bayside Lakes is located in Palm Bay and is anchored by Publix. The other Publix anchored shopping center, Riverside Market Square, spans 42,448 square feet and is located in Jacksonville. The last store, the 50,000-square-foot Keystone Crossing, is located in Tampa and is anchored by a Sweetbay grocery store. CB Richard Ellis represented Bell Partners in the transactions.
FORT MILL, S.C. — Monmouth Real Estate Investment Corp. has purchased a 112,784-square-foot warehouse from an undisclosed party for $12.6 million. FedEx Ground Package System net leases the property, which is located at 3058 Lakemont Blvd. in Fort Mill. Porthaven Partners' Darren Sides represented the buyer.
LANHAM, MD. — Amerco Real Estate Co. has purchased an 80,000-square-foot warehouse from First Industrial Realty Trust for $5.45 million. The property is located within Washington Business Park at 9800 Martin Luther King Jr. Highway in Lanham. CB Richard Ellis' Adam Weidner represented the buyer. Matthew Laraway and Ned Brady of Cushman & Wakefield represented the seller.
MIAMI — South Florida-based Link Construction Group has completed the 168,194-square-foot Causeway Square mixed-use building in Miami. The four-story structure, designed by Saltz-Michelson, has 29,374 square feet of restaurant and retail space on the ground floor. A 46,000-square-foot LA Fitness takes up the second floor, and 81,170 square feet of Class A office space span the third and fourth floors. TAUBCO designed the project.
DORAL, FLA. — Paul Stasaitis of Holliday Fenoglio Fowler has arranged a $30 million loan for a four-property office portfolio in Doral. The properties, which total 368,331 square feet, are all in the Downtown Doral development and are 95 percent leased overall. The borrower is a joint venture between Codina Partners and institutional investors advised by J.P. Morgan Asset Management. Northwestern Mutual funded the 5-year, fixed-rate loan.
ASHEVILLE, N.C. — The National Telecommunications Cooperative Association has signed a lease for 25,000 square feet of office space at Biltmore Park Town Square, a $204 million mixed-use project located in Asheville. The company will be the largest office tenant at the project and will be occupying space at 30 Town Square Boulevard. Interior construction for the space will begin in June. Biltmore Farms LLC is the project's developer.
LARGO, FLA. — Colliers Arnold has brokered the sale of 135 developer-owned condos from an undisclosed party to SWFL Gulf Properties for $4.3 million. The 160-room Fountains of Largo is located at 13125 Wilcox Road in Largo. The property, which was built in 1973 and renovated in 2006, spans 16 two-story buildings. The firm's John Stone and Jason Stanton brokered the sale.
WINCHESTER, VA. — Starwood Hotels & Resorts Worldwide has opened the 99-unit Aloft Winchester hotel in Winchester. The property is located at the intersection of Millwood Pike and Interstate 81 near the entrance to Shenandoah University. The property is also in close proximity to the Winchester Speedway and Rock Harbor Golf Course. The hotel is owned and managed by Hotel Squared.
CHESAPEAKE, VA. — HHG Chesapeake has purchased 5.2 acres of land in the Kohls Crossing development in Chesapeake from Crystal Lake 64 Associates for $1.75 million. The buyer is planning to build a 25,000-square-foot hhgregg store on the land. An additional 25,000 square feet will be added as needed. David M. Smith of Thalhimer brokered the transaction.
