ROCKY MOUNT, N.C. — RCG Ventures has purchased the 95,000-square-foot Tiffany Square from a private party for an undisclosed amount. The property, which is located adjacent to the Golden East Mall in Rocky Mount, is anchored by JC Penney, Belk, Books-A-Million, Best Buy and Petco. Parker Blanchard served as in-house representation for RCG Ventures.
Southeast
ST. CHARLES, MD. — Shamin Hotels has opened the 130-room Hilton Garden Inn Waldorf at the intersection of St. Partick's Drive and Smallwood Drive in St. Charles. The 80,886-square-foot property features a 2,465-square-foot ballroom, a convenience market, a business center, a workout facility and a pool. St. Charles is a 9,100-acre planned community that is being positioned as a model of sustainable development.
CLEARWATER, FLA. — ABG Sundial Collier Real Estate has purchased 116 units in the Waterscape Condo Resort from Crescent Resources for $23.51 million. The property is located at 1110 Santa Rose Blvd. in Clearwater. Colliers Arnold's Jason Stanton and John Stone brokered the sale.
Do you remember how it feels to be on a wild rollercoaster ride, excited and confused, trying to make sense of the ride yet wondering when it will end? That’s exactly what developers, brokers, retailers and landowners are feeling in the commercial retail market. Although Macon finds itself somewhat insulated from what major retail markets are feeling during the “Great Recession,” it is certainly not immune to the prolonged effect of this economic downturn. With the lack of financing, local and regional developers have had to adjust the delivery of their projects in the wealthy submarket of North Macon and the South Bibb County area. While they too recognize Macon as somewhat of an insulated market, they are not blind to the fact that nationally some major retailers have closed, rental rates are declining, vacancy exceeds 20 percent and negative absorption is beginning to rear its ugly head. The Shoppes at River Crossing, Macon’s newest lifestyle center on Riverside Drive, hit a speed bump with the departure of Circuit City, but has quickly recovered with the recent announcement of Jo-Ann Fabrics & Crafts’ lease of a 20,331-square-foot building. With a commitment from a major anchor, Fickling and Co. is moving …
ATLANTA — Hendon Properties has sold the 807,697-square-foot Greenbriar Mall to a foreign investor for an undisclosed amount. Located across the street from Tyler Perry's studios at 841 Greenbriar Parkway in Atlanta, the property is 94.3 percent occupied. Margaret Caldwell and Kris Cooper of Jones Lang LaSalle represented Hendon Properties in the transaction.
CHAPEL HILL, N.C. — Bell Fund III and Bluerock Real Estate have purchased the 258-unit Apartments at Meadowmont from a private seller for an undisclosed price. The property, spread across 20 acres on Highway 54 East in Chapel Hill, is 97 percent occupied. Amenities include a clubhouse, a pool, a fitness center and two playgrounds. Bell will manage the property and complete renovations that are already in progress.
ORLANDO, FLA. — FedEx Smartpost has renewed a 101,016-square-foot lease with an undisclosed landlord for 2 years. The property, Crossroads VI, is located at 501 Gills Drive in Orlando. Erik Schwetje of CB Richard Ellis brokered the transaction.
MORRISVILLE, N.C. — iContact, an e-mail marketing firm, has signed a 70,304-square-foot lease with Duke Realty Corp. for space in Perimeter Park. The property is located at 5221 Paramount Parkway in Morrisville; iContact will occupy some of the space recently vacated by Lenovo, who moved out of the building late last year. Jones Lang LaSalle's Ryan Lawrence represented the tenant. Hooker Manning served as in-house representation for Duke Realty Corp.
PORTSMOUTH, VA. — PFR Properties II has acquired a 76,000-square-foot warehouse from RADVA Corp. for $1.6 million. The building sits on 8 acres at 2211 Elliott Ave. in Portsmouth. After a renovation, the site will be the new corporate headquarters of Special Events Entertainment and Rentals. Thalhimer's Patrick Mumey brokered the sale.
GEORGIA — Atlanta-based Lavista Associates recently brokered the REO sales of three Georgia office buildings. The firm's Austin Chase represented Excel Federal Credit Union in its sale of a 17,280-square-foot building to a private party for an undisclosed amount. The property is located at 101 Colony Park Drive in Cumming. Chase also represented State Bank & Trust in its sale of an office to an undisclosed party. The 5,900-square-foot property is located at 41 Milton Ave. in Alpharetta. John Cape and Kirven Brantley represented Westside Bank in an office disposition. The 9,000-square-foot Suwanee property is located in Satellite Park at Huntcrest.