COOPER CITY, FLA. — Prince of Cooper City has purchased the 53,857-square-foot Stirling Town Center from Stirling Associates for $15.33 million. The property is located at 8637 Stirling Road in Cooper City. Starbucks, Coldstone Creamery and Beef O'Brady's are housed in the center. Dave Donnellan, Bill Strauss and Todd Weintraub of CB Richard Ellis brokered the sale.
Southeast
ORLANDO, FLA. — Winter Park, Fla.-based Lexington Development Partners has tapped Orlando-based Cuhaci & Peterson Architects to design Windsor Grand, a senior living facility in Orlando. The 110,000-square-foot facility will be located on Lake Underhill Road. When complete, the property will house 120 units, a dining facility and social areas. The development schedule has been announced.
FORT LAUDERDALE, FLA. — Franklin Templeton Investments has leased 80,448 square feet in the former headquarters building of Stiles Realty, located at 300 Las Olas Place in Fort Lauderdale. The LEED Gold building features hurricane-resistant windows. Franklin Templeton has leased the space for 10 years and will move 350 employees to the property. Stiles will move into a neighboring building it already owns. Stiles' Tom Kates served as the firm's in-house representation.
TAMPA, FLA. — Marcus & Millichap has brokered the sale of the 30-unit Oakmont Apartments between two private parties for $1.8 million. Located at 3215 W. Swann Ave., the property is 50 percent occupied. Francesco Carriera and Nicholas Meoli of Marcus & Millichap's Tampa office represented both parties in the transaction.
WASHINGTON, D.C. — Bethesda, Md.-based The Goldstar Group has purchased the mortgage for The Floridian, a 118-unit apartment complex, from Bank of America and Sovereign Bank. Goldstar purchased the property in an all-cash transaction for an undisclosed price. Only 32 units in the property had been sold, and the buyer has foreclosed on the rest. The eight-story condominium property is located at 919 and 929 Florida Ave. NW in Washington. UrbanLand Co. will start marketing the property once Goldstar upgrades the units.
GAINESVILLE, FLA. — CB Richard Ellis Capital Markets Group has arranged $27.5 million in permanent financing on behalf of Glenmont Arlington Biltmore LLC for the take-out of the existing construction loan for Canopy Apartments. The complex is a newly constructed 240-unit luxury student housing community near the University of Florida campus in Gainesville. Canopy is currently 97 percent leased. The loan, arranged by CBRE's Glenn Housman, carries a 10-year term.
GREENSBORO, N.C. — BPR Properties has purchased the 81-room Ashford Suites Hotel from Jorgenson Cos. for an undisclosed amount. The property is located at the entrance to the Piedmont Centre Office and Industrial Park in Greensboro. Features include 2,400 square feet of meeting space, a fitness center and an indoor pool. Jones Lang LaSalle Hotels brokered the sale.
ORLANDO, FLA. — Coca-Cola Enterprises has signed a 70,362-square-foot warehouse lease with DCT Industrial. The property is located at 8420 Boggy Creek Road in Orlando. Morrison Commercial Real Estate's Lisa Bailey represented Coca-Cola in the transaction. Moses Salcido of Southern Commercial Real Estate Advisors represented the landlord.
WASHINGTON, D.C. — Tishman-AECOM will build the $16 million first phase of the U.S. Department of Homeland Security's new headquarters. The development will be located in Washington on the site of the former St. Elizabeths hospital campus. The first phase also includes a U.S. Coast Guard headquarters building, a parking structure and an 80-megawatt co-generation plant. The entire project, which will cost between $3 billion to $4 billion, will be complete by 2016.
MEMPHIS, TENN. — Cronheim Mortgage has secured a $10 million acquisition loan for the purchase of a 487,670-square-foot FedEx Supply Chain Services warehouse in Memphis. The property, which was built in 1994, is located at the intersection of U.S. Highway 78 and Tuggle Road. The 5-year loan carries a 6.25 percent interest rate and a 20-year amortization schedule. Cronheim's Andrew Stewart, Dev Morris and Patrick Haggerty arranged the loan.