Southeast

130-ACRE RESEARCH TRI-CENTER TRADES HANDS

by admin June 8, 2010

DURHAM, N.C. — An affiliate of Northwood Investors LLC has acquired Research Tri-Center, an industrial park located in Durham. The 130-acre master-planned park is comprised of 10 buildings totaling approximately 1.5 million square feet of industrial space. The park is 88 percent leased to 26 tenants, including GlaxoSmithKline, UPS, FedEx Ground, Verizon and Parata Systems. Rob Cochran, David Finger, Tom Powers, Chris Norvell and Jim Allaire of Cassidy Turley's Capital Markets team represented the seller, an institutional fund managed by Grosvenor Investment Management, in the transaction. The acquisition price was not released.

June 8, 2010

160-ROOM HOTEL SELLS IN TALLAHASSEE, FL.

by admin June 8, 2010

TALLAHASSEE, FLA. — Florida-based Satchitanand has purchased Cabot Lodge in Tallahassee for an undisclosed price. Situated on 7 acres at 2735 N. Monroe St., the 160-room property is comprised of four 40-room buildings, including a commercial building with a lobby and a breakfast room. Scott Stephens and Monty Levy of HREC Investment Advisors represented the seller, Prism Hotels & Resorts and its affiliate Hospitality Receiver, in the transaction.

June 8, 2010

Office Southeast

VIRGINIA OFFICE BUILDING SOLD FOR $12.5 MILLION

by admin June 7, 2010

SUFFOLK, VA. — Harbour View Medical Arts I has sold the 49,000-square-foot Harbour View Medical Arts office building to Health Care REIT for $12.5 million. The property is located at 5838 Harbour View Blvd. in Suffolk. Thalhimer's Casey J. O'Hearn and Rik King, II, brokered the sale.

June 7, 2010

Office Southeast

FLAGLER REAL ESTATE BROKERS $9 MILLION LEASE

by admin June 7, 2010

MIAMI — Barclays has signed a $9 million lease with Testa Immuebles en Renta S.A. at the Mellon Financial Center in Miami. The banking firm will continue to lease 24,153 square feet of space for its Latin American Regional Office for the next 10 years. Flagler Real Estate Services' Jack Lowell and Adriana Jimenez represented the landlord. The 30-story Mellon Financial Center is located at 1111 Brickell Ave.

June 7, 2010

Multifamily Southeast

COUNTRY INN & SUITES PURCHASED IN SOUTH CAROLINA

by admin June 7, 2010

ANDERSON, S.C. — Seneca Hotel Group has purchased a 55-room Country Inn & Suites from a national loan servicing organization for an undisclosed amount. The property is located at the intersection of Interstate 85 and Highway 76 in Anderson. The property was built in 2001 and was renovated in 2009. David Mumford and Burton Brooks of Mumford Co. arranged the transaction.

June 7, 2010

Multifamily Southeast

D.C. APARTMENT COMPLEX FETCHES $3.3 MILLION

by admin June 7, 2010

WASHINGTON, D.C. — Ari Firoozabadi of Marcus & Millichap has brokered the sale of a 37-unit apartment complex between two private parties for $3.3 million. The property is located at 2517 Mozart Place in Washington. JP Morgan Chase provided a 15-year loan for the purchase at 65 percent loan-to-value and a 6.2 percent interest rate.

June 7, 2010

Multifamily Southeast

FIRM STARTS CONSTRUCTION ON AFFORDABLE HOUSING COMPLEX

by admin June 4, 2010

MIAMI — Carlisle Development Group has broken ground on the 90-unit Beacon Apartments in Miami's Overtown neighborhood. The $25 million, 13-story project is geared toward low-income residents. Completion is expected in 18 months.

June 4, 2010

Multifamily Southeast

CHARLESTON TO GET NEW LOW-INCOME HOUSING

by admin June 4, 2010

NORTH CHARLESTON, S.C. — McShane Construction Co. will soon start work on the 60-unit West Yard Lofts affordable housing project for The Landmark Group in North Charleston. The 75,982-square-foot property is located at 2375 Noisette Blvd. on the former Charleston Navy Yard, which closed in 1995. Designed by Martin Riley Associates Architects, the property will be part of The Navy Yard at Noisette mixed-use project. Delivery is slated for December.

June 4, 2010

Office Southeast

D.C. DEPARTMENT OF HEALTH SIGNS 150,000-SQUARE-FOOT LEASE

by admin June 4, 2010

WASHINGTON, D.C. — The Washington Department of Health has signed a 150,000-square-foot lease with CIM Group for office space at Union Square, which is located at 899 N. Capitol St. in Washington's NoMa neighborhood. Renovations are currently under way at the property, which consists of two nine-story buildings. The buildings were designed to LEED Silver standards and are connected by a common central plaza.

June 4, 2010

Hospitality Southeast

DOWNTOWN HAMPTON INN CHANGES HANDS

by admin June 3, 2010

ATLANTA — Fairwood Capital has purchased the 119-unit Hampton Inn & Suites Atlanta Downtown from a partnership led by Cooper Hotels. The sale price was not disclosed. The hotel, an 11-year-old conversion of a historic office building, is located at 161 Spring Ave. in Atlanta. Fairwood plans on undertaking a phased renovation of the entire building, which features 1,300 square feet of meeting space and a fitness center.

June 3, 2010

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