ATLANTA — Atlanta-based general contractor Benning Construction Co. has been selected to construct three Publix stores in the Southeast. The project include stores in Columbus, Ga., Pell City, Ala., and Summerville, S.C. Additionally, Benning won the contract to build an 18,000-square-foot, state-of-the-art Planet Fitness facility at Interstate 20 and Wesley Chapel Road in DeKalb County, Ga. The fitness facility is scheduled for delivery in March.
NORTH CHARLESTON, S.C. — RCG Ventures LLC, in a joint venture with DRA Advisors LLC, has acquired Northwoods Marketplace in North Charleston. Situated across from Northwood Mall, the 192,729-square-foot center is occupied by Barnes & Noble, Michaels, Old Navy, Best Buy, Bog Lots and Guitar Center. The undisclosed seller was represented by Faison & Associates. The acquisition price was not released.
MADISON, ALA. — Walker & Dunlop has arranged a $21.2 million acquisition loan for Arch Street Apartments, an apartment complex located in Madison. Built in 2009, the 267-unit property features an outdoor pool, a barbeque area, a fitness center, a children's playroom, a pet walk area, a lounge/business center, detached/attached garages and storage units. The property was 93 percent leased at closing. The 10-year loan has 2 years interest only utilizing Fannie Mae's DUS product line. Additionally, the loan was underwritten with a 79.3 percent loan-to-value with a 1.25x debt-service coverage ratio. Barry Judelson of Uniquities originated the loan.
FORT LAUDERDALE, FLA. — GJL Riviera LLC has acquired a Bank of America branch location at 2406 S.E. 17th St. Causeway in Fort Lauderdale. The freestanding, 4,385-square-foot property sold for $1.45 million. Dave Donnellan and Todd Weintraub of CB Richard Ellis represented the undisclosed seller in the transaction.
FORT MILL, S.C. — Shreeji Carowinds LLC has purchased the Plaza Hotel at Carowinds in Fort Mill. Located along Interstate 77, the 198-room property will undergo renovations and will be branded with a national franchise. David Mumford, Justin Pinkard and Steve Kirby with Mumford Company represented the seller, an institutional client, in the transaction. Terms of the release were not disclosed.
MOCKSVILLE, WINSTON-SALEM AND CHARLOTTE, N.C.; AND LOGANVILLE, GA. — RiverOak Investment Corp. has closed on a $20.7 million loan, which covers the company's acquisition of six medical office properties in North Carolina and Georgia. The CMBS loan has a 5-year term, a 30-year amortization schedule and a 6.07 percent interest rate. An affiliate of RiverOak Investment Corp. acquired the portfolio of properties, which are occupied by Novant Health Inc., in the Charlotte – Winston-Salem corridor for more than $28 million. The properties include 171 Enterprise Way in Mocksville; 480 W. Hanes Mill Road, 4020 Kilpatrick Street and 140 Club Oaks Court in Winston-Salem; and 17220 Northcross Drive in Charlotte. The properties are 100 percent occupied and total approximately 250,000 square feet. Additionally, the affiliate also acquired Loganville Medical Center, a 15,242-square-foot medical office building located at 3869 Highway 81 South in Loganville, for $5.3 million.
MORROW, GA. — Asherian Properties has acquired Southlake II, a 117,081-square-foot retail center in Morrow. Located at 1294 Mt. Zion Blvd., the property is occupied by K&G Fashion Superstone, Farmers Home Furniture, Citi Trends and D&K Suit City. Stafford Properties sold the retail center for $4.7 million. Watson Bryant of Carter & Associates represented the buyer; CB Richard Ellis' Atlanta Private Client Group, led by Craig Taylor, represented the seller in the transaction.
WILMINGTON, N.C. — Agree Realty Corp. has acquired a retail property, which is leased to AT&T, in Wilmington. Located at the corner of New Centre Drive and South College Road, the property sold for approximately $3.3 million. Additional terms of the transaction were not released.
POMPANO BEACH, FLA. — A south Florida apartment operator and investor has purchased Palm Islands Apartments, which is located at 401 N.W. 34th St. in Pompano Beach. The 402-unit, 286,115-square-foot property sold for $10.5 million. The property offers 88 studios, 181 one-bedroom/one-bath units, 79 two-bedroom/one-and-a-half-bath units and 54 two-bedroom/two-bath units. All residences have central heating and air conditioning, individual hot water heaters, ceiling fans, spacious closets and fully equipped kitchens. Community amenities include a swimming pool and lighted tennis courts. Still Hunter III and Evan Kristol of Marcus & Millichap represented the undisclosed seller; Douglas Mandel and Ryan Nee, also of Marcus & Millichap, represented the buyer in the transaction.
WASHINGTON, D.C. — A joint venture between Washington, D.C.-based Urban Investment Partners (UIP) and New York-based Infinity Real Estate has acquired a multifamily property in Washington, D.C. Located at 1340 Kenyon St. N.W., the 40-unit apartment building sold for $4.5 million. UIP has a $2 million renovation planned for the property, including new front doors, key fob- and telephone-based controlled entry access, a key-fob accessed bike storage, and renovated elevators, lobbies, hallways and individual units. UIP General Contracting, a subsidiary of UIP, will complete the renovations. UIP Property Management will manage the property. Andrew McAllister of Mac Realty Advisors represented the seller, an affiliate of Northridge Capital, in the transaction.