ATLANTA – Keystone Automotive Industries has fully leased a 231,800-square-foot distribution building in Atlanta. The landlord, DCT Industrial Trust, was represented by Adam Richards of Atlanta-based Resource Real Estate Partners and Keystone Automotive was represented by Jacob Bobek of Cushman & Wakefield's Los Angeles office.
Southeast
PENSACOLA, FLA. — The 248-unit Marcus Pointe Grande Apartment Homes, located in Pensacola, has been purchased by Passco Companies. The complex, which includes 31 two-story buildings, is part of a master-planned community that features a golf course, business park and a single-family development. Amenities include a club house, a pool with spa, a fitness center, washer-dryer hookups and fireplaces in some units. Passco and the undisclosed seller were represented by Dan Allen of CB Richard Ellis' Jacksonville, Fla., office.
ALCOA, TENN. — A 83,600-square-foot former Neill Sanddler Ford/Lincoln/Mercury dealership sold in Alcoa for $2.58 million to Phoenix, Ariz.-based Amerco Real Estate. The company provides development and real estate services to U-Haul, which will be renovating the buildings for self-storage and moving van rentals. The seller, DNSM Partnership, was represented by Maribel Koella and Brian H. Tapp of NAI's Knoxville, Tenn., office. The buyer was self-represented.
RICHMOND, VA. — Medalist Properties and WRE-Byrd have sold the 475,000-square-foot, ten-building industrial property Byrd Center, located at 5625-5741 S. Laburnum Ave. in Richmond, to AF Byrd Center VA, a joint venture between Adler Real Estate Fund and TriGate Capital, for an undisclosed price. Eric Robison of Thalhimer's Richmond office represented the buyer, broker information for the seller was undisclosed.
LITTLE ROCK, ARK.; CHATTANOOGA, TENN.; AND NASHVILLE, TENN. — CBL & Associates Properties announced that year-to-date it has arranged $135.7 million in financing in the southeast at a combined estimated average interest rate of 5.42 percent with an average term of 6.8 years. Two 10-year loans were closed, including a $99.4 million loan secured by Park Plaza in Little Rock and a $10.6 million loan secured by Hamilton Crossing in Chattanooga, with an average fixed interest rate of 5.7 percent. Additionally, two 5-year loans were closed, including a $12.1 million loan secured by Gunbarrel Pointe in Chattanooga and a $13.6 million loan secured by Coolsprings Crossings in Nashville, with an average fixed interest rate of 4.5 percent.
AUBURN, ALA. — Dunedin, Fla.-based The Barclay Group and Cary Land Company have broken ground on the Shoppes at Cary Creek, a 63,100-square-foot, $10.5 million retail development. The shopping center will cover 12 acres and will be anchored by a 45,600-square-foot Publix. Of the 17,500 square feet of retail space and three out parcels, 7,000 square feet have been pre-leased. The development is expected to open in February 2012.
BOCA RATON, FLA. — A first mortgage financing of $15 million was arranged for 201,205-square-foot industrial complex Boca Design Center, located at 3100/3500 N.W. Boca Raton Blvd. in Boca Raton. The 10-year loan was arranged by Fred Welker of NorthMarq Capital's Miami office through UBS Real Estate Finance Group with a 30-year amortization schedule.
FT. LAUDERDALE, FLA. — Marshall Smith of Coral Gables, Fla.-based Thomas D. Wood and Company secured $2.1 million in financing for Southern Center Associates I, a 24,000-square-foot multi-tenant office located at 1500 Cordova Road in Ft. Lauderdale, Fla., through Southern Farm Bureau Life. The 10-year loan, which is based on a 25-year amortization and an interest rate of 5.15 percent, was secured by the buyer to lock in a low interest rate.
FAIRFAX, VA. — A cobranded ground lease between Walgreens and PNC Bank sold for $13.8 million, the largest net-leased retail transaction in the Washington, D.C., area in the last several years. Jeff Bogart of Calkain Companies' Reston, Va. office represented both the seller and the buyer.
ORLANDO, FLA. — The 400-unit Fountains at Waterford Lake located in Orlando was purchased by Atlanta-based Centennial Holdings for $37 million. Amenities include private garages, 9-foot ceilings and two swimming pools. Shelton Granade and Luke Wickham of CB Richard Ellis' Central Florida Multi-Housing Group represented the seller. The buyer was not represented.