Southeast

TWO TENANTS LEASE 96,000 SQUARE FEET IN D.C. OFFICE BUILDING

by admin November 20, 2009

WASHINGTON, D.C. — The Federal Republic of Germany has leased 76,000 square feet of office space from AION Partners at 2300 M St. in Washington. The German embassy will occupy space, formerly occupied by the European Union, while its embassy building is being renovated. Bruce Pascal and Mark Klug of CB Richard Ellis represented the tenant in the multi-year lease. Cassidy & Pinkard’s Zeke Dodson, Kerri Mulligan Salih and Jonathan Wellborn represented the landlord. AION Partners has also leased space in the M Street building to HQ Global Workplaces, extending its 20,000-square-foot lease for an additional 5 years. The space is located on the entire eighth floor and part of the ninth floor of the building. CB Richard Ellis’ Brian Murphy and Seth Benhard represented the tenant.

November 20, 2009

HHGREGG LEASES 393,440-SQUARE-FOOT MARYLAND WAREHOUSE

by admin November 19, 2009

BRANDYWINE, MD. — hhgregg has signed a 393,440-square-foot lease with Capital Development Co. for space in a former Circuit City distribution center. Located at 14301 Mattawoman Dr. in Brandywine, hhgregg will use the facility as a regional distribution hub. Michael Elardo and Brian Kruger of Preston Partners and Lawrence Shaw of Clarus Properties represented hhgregg. Cushman & Wakefield’s Ned Brady and Matthew Laraway represented the landlord. In September, hhgregg purchased two former Circuit City stores in Virginia.

November 19, 2009

Hospitality Southeast

HOTEL GARDEN INN BATON ROUGE AIRPORT FETCHES $10.6 MILLION

by admin November 19, 2009

BATON ROUGE, LA. — Interstate Hotels & Resorts has sold the Hilton Garden Inn Baton Rouge Airport to a fund managed by Fairwood Capital for $10.6 million. The property is located at 330 Harding Boulevard in Baton Rouge. Amenities include a fitness center, a business center and a pool. Interstate will use the sale as a way to pay down its senior credit facility, which matures in 2012.

November 19, 2009

Hospitality Southeast

MARCUS & MILLICHAP BROKERS FLORIDA COMFORT INN SALE

by admin November 19, 2009

TITUSVILLE, FLA. — An undisclosed bank has sold a Titusville Comfort Inn to a private party for $3 million. The 117-room property, which was built in 1974, is located at 3655 Cheney Highway. Jaimin Patel of Marcus & Millichap’s Tampa, Fla., office marketed the property for the seller.

November 19, 2009

Multifamily Southeast

CONDOMINIUM UNITS SOLD IN NAPLES

by admin November 19, 2009

NAPLES, FLA. — CB Richard Ellis has represented an undisclosed seller in the sale of 72 condominium units in The Reserve at Naples to a private buyer for $3.2 million. The 300-unit property, located near Pine Ridge Road and Interstate 75 in Naples, had 72 remaining unsold units from when the property was sold to a converter in 2005. Jonathan Richards and Ann Bailey of CB Richard Ellis’ office in Fort Myers, Fla., represented the seller.

November 19, 2009

Multifamily Southeast

$27.37 MILLION LOAN SECURED FOR GEORGIA APARTMENT COMPLEX

by admin November 19, 2009

WOODSTOCK, GA. — CH Realty IV/Woodstock, an affiliate of Dallas-based Crow Holdings, has borrowed a $27.37 million loan for the 498-unit Alta Woods Apartments in Woodstock. The complex, which is spread across 19 buildings, features two pools, a fitness center, a putting green and two tennis courts. Freddie Mac financed the 7-year loan. Michael Riccio and Christine Kubas of CB Richard Ellis’ office in Hartford, Conn., and Robert LaChapelle of the firm’s Atlanta office arranged the loan.

November 19, 2009

Hospitality Southeast

DEVELOPMENT BEGINS FOR $31 MILLION HOTEL

by admin November 18, 2009

ORANGE BEACH, ALA. — Balmaquien Hospitality, an affiliate of Innisfree Development, has commenced development of a new $31 million beachfront hotel in Orange Beach. The new hotel, which will be branded a Hampton Inn & Suites, will rise nine stories and contain 160 rooms. Amenities will include an outdoor pool with a tiki bar and beach access as well as 5,000 square feet of meeting space. The hotel will be situated across from the Shoppes at Palm Pointe. Preliminary site work is under way, with vertical construction expected to start in December. Completion is slated for early 2011. Birmingham, Ala.-based Robins and Morton is serving as general contractor, and Behar & Peteranecz is providing architectural services.

November 18, 2009

Office Southeast

WASHINGTON SQUARE RENOVATION BEGINS IN D.C.

by admin November 18, 2009

WASHINGTON, D.C. — Lerner Enterprises and The Tower Companies have begun renovations to Washington Square, a 1 million-square-foot office tower located at 1050 Connecticut Ave. in Washington. Construction will include new glazing on ground-level windows, new full-height revolving glass entrance doors, new architectural glass and stainless steel canopies that incorporated LED technology, streetscape improvements, high-definition LED message boards, elevator lobby renovations, garage valet area and main parking level lobby renovations, and a modernized security infrastructure. The Washington office of Gensler Associates is the project architect, and Falls Church, Va.-based HITT Contracting is the general contractor. Completion is slated for summer 2010. Lerner and Tower first developed Washington Square in 1982.

November 18, 2009

Industrial Southeast

G&E|FURMAN CO. ARRANGES 266,000-SQUARE-FOOT WAREHOUSE LEASE IN S.C.

by admin November 18, 2009

GREER, S.C. — Grubb & Ellis|The Furman Co. has arranged a lease for approximately 266,000 square feet of warehouse space in Greer. Speedway Packaging & Distribution will occupy the space, which is located at 1221B S. Batesville Rd. The lease is valued at $3.3 million. Perry Major of Grubb & Ellis represented Speedway in lease negotiations. Major and John Scott, also of Grubb & Ellis, represented the landlord, ProLogis.

November 18, 2009

Industrial Southeast

BLUE & OBRECHT REALTY COMPLETES MARYLAND FLEX SALE

by admin November 18, 2009

WOODLAWN, MD. — Blue & Obrecht Realty has completed the sale of The Hunter Building, a 22,192-square-foot flex building located at 1724 Whitehead Rd. in Woodlawn. Richard Blue of Blue & Obrecht Realty represented the seller, Atlantic Realty Cos. Paul Obrecht and Krager Sanders, also of Blue & Obrecht, represented the buyer, Emjay Engineering & Construction Co. The acquisition price was not disclosed.

November 18, 2009

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