LEXINGTON, KY. — Lexington H.I. Partners has purchased the 302-room Holiday Inn Lexington North from InterContinental Hotels Group for an undisclosed amount. The property is located on 12 acres near downtown Lexington and the University of Kentucky. The buyer will undertake renovations to the hotel, which will remain a Holiday Inn through the end of the year.
WHITE MARSH, MD. — CDS Logistics Management has signed a 110,000-square-foot lease with First Industrial Realty Trust for warehouse space in the 1,100-acre Baltimore Crossroads@95 business community. The space is located in a 300,000-square-foot building in the park, which is situated off the MD Route 43 extension in White Marsh. The tenant will move in May 1. NAI KLNB's Bill Miller represented CDS. CB Richard Ellis' Bill Pellington represented the landlord.
ORANGE PARK, FLA. — Marcus & Millichap has brokered the sale of the 13,800-square-foot 57 Heaven Center retail property between two undisclosed parties for $1.32 million. The property, which is fully occupied, is located at the intersection of Blanding Boulevard and Wells Road in Orange Park. The property is shadow-anchored by the 900,000-square-foot Orange Park Mall. David Hsieh and James Hoggatt of Marcus & Millichap brokered the sale.
DESTIN, FLA. — Sandestin Investments has purchased the Sandestin Gulf and Beach Resort from Intrawest, which announced the tentative purchase agreement in February, for $30 million. The 2,400-acre property is located in Destin. The resort, which encompasses 1,500 units, features more than 7 miles of beaches, 15 tennis courses, 19 pools, 65,000 square feet of meeting space and a 98-slip marina. Coral Gables, Fla.-based American Real Estate Capital secured the acquisition loan.
ORLANDO, FLA. — Roger B. Kennedy Inc. has completed construction of the 32,000-square-foot Lake Nona Village Center Building 10. The $2.6 million, two-story property is located at 9685 Lake Nona Village Place in Orlando. Developed by Lake Nona Village II LLC, Maitland, Fla.-based Charlan Brock & Associates designed the property. Building 10 houses the 3,082-square-foot world headquarters of Annika Enterprises.
CARRBORO, N.C. — PACE Academy has signed a 21,384-square-foot lease with SHM Properties for space in the Harris Building. The property, which is located at 308 N.C. Highway 54 Bypass in Carrboro, is now 100 percent leased. Grubb & Ellis|Thomas Linderman Graham's Arnold Siegmund and Churchill Bunn represented the landlord in the transaction.
MIAMI — Marcus & Millichap has brokered the $1.2 million sale of a vacant mixed-use property in Miami. The 13,268-square-foot, two-story property is located on the southwest corner of 29th Street and Biscayne Boulevard. The buyer, a limited liability company based in New York, will operate the property as an owner/user and rent out space on the second floor. Mark Wohl of Marcus & Millichap brokered the sale.
WASHINGTON, D.C. — The law firm Mintz, Levin, Cohn, Ferris, Golvsky and Popeo has signed a 55,000-square-foot lease renewal with Beacon Properties at the 350,000-square-foot Market Square. The law firm has occupied space in the office building, which is located at 701 Pennsylvania Ave. NW in Washington, since 1991. The lease will keep the firm in Market Square for 10 more years. Cassidy & Pinkard's Phillip Thomas represented the landlord. Lois Zambo and Steve London of Studley represented the tenant.
BEAUFORT, S.C. — Greenville, S.C.-based RealtyLink has completed a Verizon Wireless retail store in Beaufort. The 4,500-square-foot property is located on Highway 70 and is part of a development that houses Goodyear, Arby's and IHOP.
HARFORD COUNTY, MD. — St. John Properties will break ground during the second quarter on The Village Center at The GATE, a 60-acre shopping center near the Government and Technology Enterprise project in Harford County's Aberdeen Proving Ground. The Village Center will encompass 78,000 square feet in up to nine buildings, which includes five restaurant pad sites, two pad sites for banks and a 10,000-square-foot child-care facility. A 21,000-square-foot, multi-tenant building is also part of the project.