FLORENCE, S.C. — As part of a continuing effort to exit the hospitality business, Motel Associates has sold its leasehold interest in Country Hearth Inn to Blair Square LLC for an undisclosed amount. Located at the intersection of highways 52 and 21 in Florence, the property is situated less than 12 miles from Darlington International Speedway. The buyer will undertake renovations to the hotel.
DURHAM AND RALEIGH, N.C. — Berkeley Capital Advisors of Charlotte, N.C., have arranged two shopping center sales between private parties. The 134,295-square-foot Durham Festival Shopping Center has been sold for an undisclosed amount. Located at the corner of Hillsborough Road and North LaSalle Street in Durham, the Kroger-anchored property is 94 percent leased. The Lynnwood Collection shopping center, located at the intersection of Creedmoor and Lynn roads in Raleigh, has also been sold for an undisclosed amount. The 86,662-square-foot property is anchored by Kroger and is 95 percent leased. Rob Carter, David Webb and Alex Quarrier of Berkeley Capital arranged both transactions.
HARFORD COUNTY, MD. — Corporate Office Properties Trust has broken ground on an 84,000-square-foot office building in Aberdeen Proving Ground’s North Gate Business Park. The property is located at 210 Research Boulevard in Harford County. DNC Architects designed the space, and Frederick Ward & Associates is providing civil engineering services. When complete, the North Gate Business Park will span 800,000 square feet.
ST. AUGUSTINE, FLA. — Keene Construction Co. of Orlando, Fla., has completed a 45,600-square-foot Publix in St. Augustine. The store is located in Hallmark Partners’ 61,000-square-foot Shoppes at Mission Trace shopping center. Orlando-based Cuhaci & Peterson designed the property.
TAMPA, FLA. — Michael Jaworski of Marcus & Millichap’s Tampa office has brokered the sale of the Palms Center office building between two private parties for $2.7 million. The 25,088-square-foot office building is located at 15043 Bruce B. Downs Boulevard in Tampa.
STONE MOUNTAIN, GA., AND GREENSBORO, N.C. — It’s Fashion Metro will open an 11,500-square-foot branch in Stone Mountain in February. The store will be located in the Memorial Bend Shopping Center, which houses Publix, Foot Locker and Dollar Tree. The Shopping Center Group’s Brett Fuller represented the undisclosed landlord in negotiations. CB Richard Ellis’ Miranda Walker represented It’s Fashion. The Shopping Center Group’s Drew Logan has represented Intrex Computers in its relocation to Northwest Centre in Greensboro. The store will open in March. The property, located on Battleground Avenue, is 100 percent leased and houses Ross Dress For Less and T.
ARLINGTON, VA. — A partnership between Cornerstone Real Estate Advisers and Kettler has sold the 326-unit Metropolitan at Pentagon Row multifamily complex to Equity Residential for nearly $100 million. The property, located at 1401 S. Joyce St. in Arlington, is currently 95 percent occupied. Apartment amenities include a rooftop lounge equipped with a kitchen, a rooftop swimming pool, a cyber cafe, a business center and a fitness center. Dave Nachison and Alan Davis of Holliday Fenoglio Fowler’s Washington, D.C., office represented the seller.
KISSIMMEE, FLA. — Supertel Hospitality has sold the 187-room Masters Inn East of Kissimmee to Royal Hotel Group Florida for an undisclosed amount. The property is located 2 miles from Walt Disney World. The buyer, a family investment group, plans to undertake exterior renovations to the property. Mumford Co. represented Supertel in the transaction.
FORT LAUDERDALE, FLA. — AT&T has signed a 110,477-square-foot lease renewal with New Boston Fund for space in the 413,390-square-foot AtlanTech Tower. AT&T currently occupies 25 percent of the Fort Lauderdale property, which also houses CompHealth Group, the corporate offices of Whole Foods Market and Alere. Rick Widerman of Jones Lang LaSalle’s Philadelphia office represented the tenant; Alice Lucia and Sandra Anderson of the firm’s Fort Lauderdale office represented the landlord.
TAMPA, FLA. — Tampa-based Monroe & Giordano has secured a $6.8 million loan for the 155,837-square-foot Westport Storage and Office/Warehouse. The 351-unit property, located on Williamson Boulevard in Tampa, was built in phases from 2000 to 2004. A national lending source provided financing for the permanent loan.