JACKSON, MISS. — Jackson-based Southeast Industrial Properties I, a joint venture between Hines Investments and Duckworth Realty, will deliver a seed research facility for the Monsanto Co. by late this year. The 26,100-square-foot property will be located in Jackson's Flora Industrial Park. Flowood, Miss.-based Peoples Construction Corp. is serving as the general contractor.
DULLES, VA. —Northwestern Investment Management Co. has leased 64,539 square feet of warehouse space to San Antonio-based Ward North America, a moving and storage company, for the next 10.5 years. The property is located at 23000 Ladbrook Drive in Dulles. Adam Schindler and Paul Schweitzer represented the tenant in the $8 million lease, which is expected to bring 50 jobs to the area. The firm's Caulley Derringer and Stephen Beggs represented the landlord.
SUMMERVILLE, S.C. — The owner of Cobblestone Village Apartments, a 320-unit multifamily complex in Summerville, has received a $20 million loan, which will replace existing construction financing. The 10-year loan carries a 5.88 percent interest rate and a 30-year amortization schedule. Arbor Commercial Funding arranged the loan.
CLEVELAND, TENN. — Deutsche Bank Berkshire Mortgage has arranged a $15.7 million construction loan for The Retreat at Spring Creek apartment complex. The 199-unit property will be part of Cleveland's The Spring Creek Development, a mixed-use neighborhood. The 40-year, fixed-rate loan was financed through HUD's Section 221(d)(4) Mortgage Insurance Program.
JACKSONVILLE, FLA. — Two undisclosed clients have traded the 400-unit Summer Oak apartment complex in Jacksonville for $12.4 million. The property was constructed in 1972. Steve Lear, Bart Walchle and Erik Bjornson of Walchle Lear Multifamily Advisors represented the institutional seller in the transaction.
TAMPA, FLA. — Marcus & Millichap has brokered the $1.42 million sale of a Discount Mini Storage location between two private parties. The property is located on 1.67 acres at 8323 W. Hillsborough Ave. in Tampa. Discount Mini Storage, which was built in 1998, is 68 percent occupied. Michael Mele of the firm's Tampa office brokered the sale.
WASHINGTON, D.C. — Marcus & Millichap has brokered the $11.75 million sale of the 90-unit New Amsterdam apartment complex between two undisclosed parties. Located at 2701 14th St. in Washington, the 75,375-square-foot property is 99 percent occupied. Retail space is featured on the ground level. Stacey Milam of Marcus & Millichap's Washington office represented the seller. The firm's Tracy Edwards, who also works in the Washington office, represented the buyer.
JACKSONVILLE, FLA. — Healthcare Trust of America has purchased the 53,169-square-foot King Street Medical Office Building from an undisclosed seller for $10.77 million. The Jacksonville property is located on the campus of St. Vincent's Medical Center. The building is fully leased by the Gary and Nancy Chartrand Heart & Vascular Center. Healthcare Trust of America represented itself in the transaction.
LEXINGTON, KY. — Aldi Food Market has signed a 1.76-acre ground lease to occupy the former Man O' War Ford property in Lexington. The 18,800-square-foot space is located adjacent to Fayette Mall at 3695 Nicholasville Road. Aldi will open at the new space in August. Bruce Isaac of NAI Isaac Commercial Properties represented Aldi in the transaction. Caller Properties' Bret Caller and Ben Hall represented the undisclosed landlord.
GULF BREEZE, FLA. — Strategic Storage Trust has purchased a 280-unit self-storage facility from Seagreen Marine for an undisclosed amount. The 39,750-square-foot property, located at 4761 Gulf Breeze Parkway in Gulf Breeze, was developed in 2004 and 2005. National Real Estate Auction Group represented the seller.