ST. PETERSBURG, FLA. — A joint venture between Feldman Equities and Tower Realty Partners has begun a $2 million capital improvement and renovation at the 242,115-square-foot City Center, a Class A office building located at 100 Second Ave. South in St. Petersburg. The north tower is four stories and the south tower is 12 stories. Renovations will include parking garage lighting, elevator lobbies, restroom improvements and the installation of an energy management system. Also, the front entrance will be updated with granite pavers, and the lobby entrance doors will be re-done in an all-glass system. Construction began on the building’s new fitness center the first week of July.
MACON, GA. & BREWTON, ALA. — Atlanta-based Blue Ridge Capital has acquired two retail properties for a total of $1.4 million. Steve Massell of Massell Commercial Real Estate represented Blue Ridge in the purchase of the 20,900-square-foot The Shoppes of Ansley Village, located in Macon. The seller, LMIW I, was represented by Sembler. Blue Ridge’s acquisition of the 114,891-square-foot Douglas Square in Brewton, John Vallas of Vallas Realty represented Regions Bank, the seller. The center includes a former Wal-Mart box of 73,338 square feet and a 16,849-square-foot Goody’s.
DORAL, FLA. — Wholesale Group has signed an 88,680-square-foot lease at the 174,024-square-foot Doral Logistics Center, located at 2900 NW 112th Ave. in Doral. Walter Byrd, Ben Eisenberg and Thomas Kresse represented Seagis Property Group, the landlord, in the transaction.
SPRING HILL, VERO BEACH & ST. AUGUSTINE, FLA. — Phoenix-based Cole Real Estate Investments has acquired three retail properties in Florida in separate transactions totaling $48.5 million. The properties include: the 226,000-square-foot Nature Coast Commons in Spring Hill for $29 million; the 107,000-square-foot Century Town Center in Vero Beach for $14.8 million; and a 57,000-square-foot Hobby Lobby and a 5,000-square-foot Color Wheel in Riverside Center in St. Augustine for $4.7 million.
MCLEAN, VA. — Canada-based Avison Young has acquired McLean-based Millennium Realty Advisors. The change in ownership will add nine employees including five new principals to Avison Young's U.S. Capital Regions operations. Millennium's current office, located at 8300 Greensboro Dr. in McLean, will merge with Avison Young's Tysons Corner, Va., office in a new location to be announced.
AUGUSTA, GA. — Dallas-based The MGHerring Group has broken ground on a new 142,000-square-foot Costco at the Village at Riverwatch, a shopping center under development at the intersection of Interstate 20 and River Watch Parkway in Augusta. The store will anchor the first phase of the center and is set to open in late 2011.
HANAHAN, S.C. — Continental Terminals has signed a lease for 101,705 square feet at 201 Luken Road in Hanahan. Hagood Morrison and Amanda Kitchen of Colliers International's Charleston, S.C., office represented the tenant. Bob Barrineau and Brendan Redeyoff of Charleston-based CB Richard Ellis Carmody represented the landlord.
ALEXANDRIA, VA. — The Alexandria City Council has approved plans for a $74 million development including a new 52,000-square-foot Harris Teeter and 175 apartments. The project is being developed by Gaithersburg, Md.-based Buchanan Partners, Bethesda, Md.-based The Pinkard Group and Theo Androus, and is backed by equity partner Bethesda-based Buvermo Properties. Groundbreaking is set for the first quarter of 2012.
GRIFFIN, GA. — Caterpillar, Inc. will make a major investment in its Griffin Engine Center in Griffin. The Peoria, Ill.-based company will create at least 200 jobs and invest $120 million in machinery, equipment and upgrades to the existing facility. The Caterpillar Griffin Engine Center assembles engines and generator sets for more than six different engine models.
ST. PETERSBURG, FLA. — Marcus & Millichap has arranged the sale of the 178-unit lender-owned Skyline Fifth Avenue, located at 441 33rd St. North in St. Petersburg, for $17.12 million. Frank Carriera and Michael Regan of the firm's Tampa office represented the seller and the buyer, a Canada-based investment group.