DORAL, FLA. — The Miami office of Holliday Fenoglio Fowler (HFF) has arranged a $19.9 million loan for a newly constructed Class A office property in Doral. Located in downtown Doral, the property offers 150,000 square feet of office space and is adjacent to the Doral Resort. Currently, the property is 29 percent leased. The borrower is a joint venture between Codina Partners and institutional investors advised by J.P. Morgan Asset Management. The 2-year, floating rate loan was financed through Bank of America Merrill Lynch. Paul Stasaitis, Manny de Zárraga and Ignacio Portuondo of HFF represented the borrower in the transaction.
Southeast
AMELIA ISLAND, FLA. — TRT Holdings/Omni Hotels has completed its acquisition of Amelia Island Plantation, following a late August bankruptcy auction bid against Starwood Capital and Noble Investment Group. The company acquired the north Florida beach resort for $67.1 million or $269,478 per room. Located 29 miles north of Jacksonville International Airport, the 1,350-acre property offers 249 guestrooms, 54 holes of championship golf, a tennis center, a spa and 50,000 square feet of meeting space. Amelia Island Plantation retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code.
FORT LAUDERDALE, FLA. — US Republic Core Fund and U.S. Premier Office Equities, which are both owned by USAA Real Estate Co., have purchased a two-building, multi-tenant office complex located within Fort Lauderdale’s Las Olas corridor. BF Las Olas sold the 469,353-square-foot property for an undisclosed price. The 18-story, 259,607-square-foot building and the 14-story, 209,746-square-foot building share street-level retail and parking space on Las Olas Boulevard. Current tenants of the complex include Huizenga Holdings, Wells Fargo, Bank of America, Morgan Stanley and the law firm of Akerman Senterfitt & Edison.
TAMPA, FLA. — The Philadelphia office of NorthMarq Capital has arranged a $4.22 million first mortgage for Fowler Plaza, an 87,000-square-foot retail strip center in Tampa. Dollar General occupies a portion of the unanchored center. David Henrich of NorthMarq arranged the 10-year loan, which carries a 25-year amortization schedule, for the borrower through NorthMarq’s correspondent relationship with Symetra Financial.
ARLINGTON, VA. — Skanska USA Commercial Development is developing and constructing its second commercial office project in Washington, D.C. Located at 1176 Wilson Blvd., the $63.5 million project in Arlington. The project will offer approximately 161,458 square feet of leasable space and 230 underground parking spaces. Construction is slated to begin in the fourth quarter of this year, with completion scheduled for second quarter of 2012. Additionally, the project is being designed to achieve a minimum of LEED Gold certification.
CHESTERFIELD COUNTY, VA. — CVS/pharmacy has acquired two land parcels at 5401 Omo Road and 6320 and 6400 Iron Bridge Road in Chesterfield County. Bessie J. Lynch sold approximately 2.01 acres to the company for $400,000 and J&B Realty LLC sold approximately 2.25 acres to CVS for $375,000. The Rebkee Company is developing a CVS/pharmacy at the site. Lindsey Floyd of Thalhimer, a member of Cushman & Wakefield Alliance, negotiated the transactions.
HARRODSBURG, KY. — North Carolina-based Chen Development LLC has purchased a 60,048-square-foot grocery-anchored shopping center in Harrodsburg. Located at 844 S. College St., the property is occupied by Kroger, Cato, Arby’s and Cellular One. Centro Properties sold the retail center for an undisclosed price. Rebecca Wells and Robert Taylor of Cassidy Turley represented the seller in the transaction.
NEW ORLEANS — A California-based REIT has acquired Sure Save USA Self-Storage, an 117,155-square-foot self-storage facility in New Orleans. The property sold for $3.4 million. Completed in 2006, the 736-unit facility offers 640 climate-controlled units. Property amenities include elevators, digital surveillance cameras, roll-up doors, RV parking and a manager’s office. Michael Mele of Marcus & Millichap represented the seller, an Ohio-based financial institution. Additional terms of the lease were not released.
GAINESVILLE, GA.; DECATUR AND MONTGOMERY, ALA.; AND GREENSBORO, N.C. — Coyote Management LP and Garrison Investment Group, through their affiliates, have acquired six retail centers in the Southeast. Totaling 1.6 million square feet the assets include the 517,153-square-foot Lakeshore Mall in Gainesville; the 576,000-square-foot Decatur Mall in Decatur; Promenade Montgomery Shopping Center, Promenade Montgomery North Shopping Center, and Bellwood Center in Montgomery; and Quaker Village in Greensboro. Addison, Texas-based Coyote Management now owns and manages a portfolio of 5.8 million square feet.
TALLAHASSEE, FLA. — Magnolia Park LLC has completed the disposition of a freestanding retail property, which is located at the corner of Park Avenue and Magnolia Drive in Tallahassee. The NN-leased AT&T store sold to an undisclosed buyer for $2.16 million. Francis Rentz of Sperry Van Ness (SVN) represented the seller; Jason Long of Shane Investments represented the buyer in the transaction.