NEWELL, W.V. — Beacon Hospitality has purchased the Holiday Inn Express in Newell for an undisclosed price. Built in 2005, the three-story property offers 69 rooms. The acquisition was funded via Quadrant Financial utilizing the USDA's B & I loan program. David Mumford, Ed James and Justin Pinkard of The Mumford Company represented the seller, Mountaineer Lodging, in the transaction.
TAMPA, FLA. — Tampa-based Hachem Investments has acquired the retail space at Skypoint Tampa, which is located in Tampa's River Arts District. The 9,907-square-foot space is fully leased to Taps, Five Guys, the Point, Kurdi's Fresh Mediterranean Grill and Pizza Fusion. Clay Witherspoon and Paul Royak of Lane Witherspoon & Carswell Commercial Real Estate Advisors negotiated the sale between the buyer and the seller, Skypoint, which is a partnership of Novare Group Holdings of Atlanta and investors in Tampa. Terms of the transaction were not released.
DAYTONA BEACH AND PANAMA CITY BEACH, FLA. — Cole Real Estate Investments has purchased two multi-tenant shopping centers in separate transactions totaling $47 million. Cole acquired the 228,139-square-foot Volusia Square in Daytona Beach from Retail Planning Corp. for $31 million. The center is 96 percent leased to tenants, including Hobby Lobby, HH Gregg, TJ Maxx, Dollar Tree, Bealls Outlet and Pier 1 Imports. The company also bought the 97,931-square-foot Breakfast Point Marketplace in Panama City Beach. The property is 99 percent leased to tenants, including Publix and Office Depot. Tom Falatko provided in-house representation for Cole in the Volusia Square transaction, while Brad Peterson of Holliday Fenoglio Fowler represented the undisclosed seller. Clint Marchuk provided in-house representation for Cole in the Breakfast Point transaction, with Chris Decoufle, Cliff Taylor and Kevin Reavey of CB Richard Ellis represented the undisclosed seller.
ATLANTA — Los Angeles-based Westwood Financial Corp. has acquired Main Street at Town Center in Atlanta. Located at 440 W. Earnest Barrett Parkway, the 113,615-square-foot shopping center is anchored by David's Bridal. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta retail investment team brokered the transaction. The sales price was not released.
LITHONIA, GA. — Rich Products Corp. has acquired an 189,000-square-foot manufacturing facility at 2200 Lithonia Industrial Blvd. in Lithonia. Built in 1970 and expanded in 1980, the facility is used as a food manufacturing plant. Addison Meriwether and Travis Jackson of Cushman & Wakefield represented the buyer; Patrick Laughlin of Bullock Mannelly Partners represented the seller, CharterBank, in the transaction. The sales price was not released.
ORLANDO, FLA. — Lexin Nona LLC has purchased Nona Commons, a retail center at 10727 Narcoossee Road in Orlando. The property sold for $9 million. Built in 2008, the 59,205-square-foot property is occupied by Outback Steakhouse, Great Clips, Papa John's and Anytime Fitness. Bill Strauss, Dave Donnellan, Todd Weintraub, Dan Baker and Mike Millard of CB Richard Ellis represented the seller, Moss Parc Commercial, in the transaction.
ATLANTA — Atlanta Underground LLC, Excel Hotel Group and S&A Industries have opened the first Comfort Suites in downtown Atlanta. Located at 54 Peachtree St. near historic Underground Atlanta, the hotel offers 156 rooms. The hotel is housed in a historic building, which was expanded during Atlanta's 1996 Summer Olympics. The property, which is franchised by Choice Hotels International, is the brand's first adaptive reuse project.
TAMPA, FLA. — Chicago-based Transwestern Investment Co. has purchased Mallory Square Apartments in Tampa. The 388-unit multifamily property sold for $38.75 million or $101,179 per unit. Constructed in 2005, the property offers one-, two- and three-bedroom units, a resort-style pool with spa and a 6,500-square-foot clubhouse with a fitness center, an indoor basketball court and a billiards room. John Selby and Jim Bobbitt of CB Richard Ellis represented the seller, CIGNA Investments, in the transaction. Financing was provided by Fannie Mae through Robert Kadoori of CB Richard Ellis' Debt & Equity Finance Group.
NASHVILLE, TENN. — Chartwell Hospitality has acquired two hotels in Nashville for $36.5 million. The company purchased the 169-room Hampton Inn at West End Avenue and the 157-room Hampton Inn & Suites at Elliston Place. The company plans to invest $4 million for upgrades to the properties. Additional terms of the transactions were not released.
TAMPA, FLA. — A joint venture consisting of affiliates of TriGate Capital LLC, Feldman Equities and Tower Realty Partners has acquired Fountain Square II, a 134,065-square-foot office building in Tampa. Located within the Fountain Square Office Park, the 70-percent occupied property features an on-site fitness center, a restaurant and a parking garage. Orlando, Fla.-based Tower Realty Partners will manage and lease the property. Terms of the transaction were not released.
