COLUMBIA, MD. — Madison Marquette has purchased a land parcel that includes a 90,000-square-foot retail property from a private party for $7.2 million and will build a 63,000-square-foot Toys 'R Us/Babies 'R Us store on the site. The 10-acre property, located in the Columbia Center II shopping center in Columbia, was formerly occupied by Home Expo Design Center. After the new tenant moves in, additional retail space will be available.
ALTAMONTE SPRINGS, FLA. — Considine Altamonte Springs Investor has borrowed $10.57 million in acquisition financing for the 224-unit Archstone Altamonte Springs apartment complex. The Altamonte Springs property includes a pool, a clubhouse, a car wash area and tennis courts. The Freddie Mac loan carries a 10-year term and a 30-year amortization schedule. Charles Foschini, Christian Lee and Christopher Apone of CB Richard Ellis Capital Markets arranged the loan.
FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the $2.67 million sale of Cypress Business Center between two private parties. The 42,495-square-foot flex building is located at 5801 N. Andrews Ave. in Fort Lauderdale. The one-story building sits on 2.99 acres of land. Douglas Mandel of the firm's Fort Lauderdale office brokered the sale.
ROANOKE, VA. — Puglisi Family has purchased a McDonald's pad site from Fairway Roanoke for $1.3 million. The property is located at 1335 Hershberger Road in Roanoke. Thalhimer's Jake Copty brokered the sale.
THOMASTON, GA. — Yamaha Music Manufacturing has sold a 275,000-square-foot facility to Animal Health Sciences of Smyrna, Ga., for an undisclosed amount. The property, which Yamaha closed in 2007, is located on 75 acres in Thomaston. Arthur Barry of Macon, Ga.-based Coldwell Baker Commercial Eberhardt & Barry represented Yamaha in the deal.
DAHLGREN, VA. — OMZ King George broke ground last week on the King George Gateway shopping center, which could eventually encompass 300,000 square feet of retail space. The property is located across the street from Dahlgren Naval Warfare Center at the interchange of VA Route 301 and University Drive in Dahlgren. A 150,000-square-foot Walmart Super Center, which will open in spring 2011, will anchor the property. Quiznos Sub, Verizon Wireless and Auto Zone have also signed on to move into the shopping center.
LAGRANGE, GA. — McCarthy Building Cos. has completed the 140,000-square-foot South Tower at West Georgia Health's LaGrange campus. The $70 million project will accommodate up to 192 beds. The property houses a cardiovascular center, an intensive care unit and an emergency department.
OXFORD, MISS. — Marcus & Millichap has brokered the sale of the Sterling University Terrace student housing property between two private parties for an undisclosed price. The 156-unit property can house 492 students; it is located at 900 Whirlpool Drive near the University of Mississippi campus in Oxford. The firm's Travis Prince and Dorothy Jackman represented both parties in the transaction. Michael Harris, Brent Yurtkuran and Matt Fitzgerald of Marcus & Millichap also helped broker the deal.
ORLANDO, FLA. — New Boston Fund has purchased a controlling interest in the 137,000-square-foot Southpoint Executive Center. The Class A office building is located in Orlando. Stiles, which purchased Southpoint in 2007, will remain co-owner of the property. In the deal, New Boston paid the building's outstanding debt; the firm will also pay future operating costs and will fund leasing costs. The property is currently 30 percent leased.
BETHESDA, MD. — A joint venture between LCOR and USAA Real Estate Co. has broken ground on a 362,000-square-foot building for the U.S. Nuclear Regulatory Commission. The $131 million project, which will be located at 11601 Rockville Pike in Bethesda, is expected to employ 185 to 350 workers per month during the construction period. NRC will occupy the building, which is owned by the Washington Metropolitan Area Transit Authority, on a 15-year lease. The building is being designed to LEED Silver standards.