MONROE, N.C. — RealtyLink LLC has completed the development and disposition of a 4,500-square-foot Verizon Wireless store, which is located on U.S. Highway 74 in Monroe. A Texas-based institutional real estate company acquired the property, which is currently on a 10-year lease with Verizon, for $2.58 million.
ATLANTA — Mumford Co. has brokered the sale of the former InHome Suites located at the interchange of Interstate 20 and Fulton Industrial Boulevard in Atlanta. The 105-suite property was vacant at the time of the sale. The buyer, Parthi Sai LLC, plans to extensively renovate the hotel and reopen it. Ed James of Mumford's Newport News, Va., office and Burton Brooks of the firm's Atlanta office represented the seller, Wells Fargo Bank, N.A.
KNOXVILLE, TENN. — Love Funding has secured $3.74 million in FHA 223(a)(7) funds for the refinancing of Londontown Apartments in Knoxville. The loan carries a 3.88 percent fixed interest rate and a 35-year amortization schedule. Tammy Tate of Love's Knoxville office arranged the loan on behalf of the borrower, OSM Investment Co. This is the third time Tate has helped the borrower refinance the property, and she was also responsible for helping the borrower arrange its original acquisition financing. Londontown Apartments contains 210 residences in a mix of one-, two- and three-bedroom units. Amenities include a fitness center, a swimming pool, lighted tennis courts, a picnic area, a car wash area and a clubhouse.
ORLANDO, FLA. — Construction is under way for a new 53,351-square-foot aircraft maintenance facility for Avocet Capital at Orlando Sanford International Airport in Orlando. The $5 million project is scheduled for completion in January. It consists of 44,000 square feet of hangar space, 5,351 square feet of administrative offices and 4,000 square feet of maintenance space.
WINTER PARK, FLA. — The groundbreaking has been held for the new Winter Park Community Center. The project will include the demolition of the existing center and the construction of a 38,572-square-foot facility that will contain a swimming pool, an ancillary building, a playground, an exterior stage and additional parking. The project will be seeking LEED-Silver certification. The general contractor is Turner Construction Co., and the project architect is SchenkelShultz Architecture.
HENRICO, VA. — DRCC Properties has acquired the former headquarters of Circuit City in Henrico for an undisclosed amount. The sale included the vacant, 288,000-square-foot building known as Deep Run I, as well as 58 acres of land. Deep Run I, which is located at 9950 Mayland Drive, features a full-service cafeteria, approximately 15,000 square feet of data center space and two full-building core atriums. The land purchase includes the 18.5 acres the building is located on and 2 acres leased to a daycare. The remainder of the land is for future development. Eric Robison and Mark Douglas of Thalhimer represented the seller, which was the lender that took the property back from its original owner in 2009.
BOYNTON BEACH, FLA. — A joint venture between Miami-based Integra Solutions and Boca Raton, Fla.-based The Altman Companies has acquired Peninsula on the Intracoastal, a distressed, non-fractured residential community located in Boynton Beach, for $8.3 million. Situated at 2649 N. Federal Highway, the unfinished property currently contains a five-story, 40-unit structure with waterfront views, 10 unfinished townhomes, a heated pool and spa, a private clubhouse and marina access to the Intracoastal Waterway. The infrastructure is in place to build 20 additional townhomes. Hampton Beebe, Avery Klann and Marc deBaptiste of the Boca Raton office of Apartment Realty Advisors arranged the deal. The buyer plans to operate the property as a luxury rental community in the near term.
SUWANNEE, GA. — An affiliate of USAA Real Estate Co. has acquired a grocery-anchored shopping center in Suwannee from an affiliate of Marietta, Ga.-based Columbia Properties. Village Shoppes at Windermere is a 74,403-square-foot retail property. Its anchor is Publix, and the the remaining tenants comprise casual restaurants, salons and professional offices. Occupancy was nearly 100 percent at the time of closing. Columbia Properties will continue to manage the center. The purchase price was not disclosed.
TAMARAC, FLA. — Chris Caveglia of Dockerty Romer & Co. has arranged a $2.2 million loan for Tamarac Commons, an office property in Tamarac. Located at 7300 and 7310 W. McNab Road, the property is comprised of two two-story, 27,878-square-foot buildings. The financing was arranged through a local lender with a 5-year term and a 25-year amortization schedule. The borrower was not released.
ROANOKE RAPIDS, N.C. — Mumford Co. represented PVC Inc. in the disposition of Sleep Inn of Roanoke Rapids. A local investment group acquired the 114-room property for an undisclosed price. The buyer plans to renovate the hotel, which will retain the Sleep Inn franchise affiliation. David Mumford and Ed James of Mumford Co. represented the seller in the transaction.