KNOX COUNTY, TENN. — RLR Investments has sold the 113,000-square-foot R&L manufacturing facility to Dew Properties for an undisclosed amount. The property is located in Knox County's Forks of the River Industrial Park. Baker Realty Co. represented the seller.
Southeast
STERLING, VA. — First Potomac Realty Trust has broken ground on a 56,900-square-foot flex building in the 495,000-square-foot Sterling Park Business Center off Route 28 in Sterling. MSI Worldwide Mail will occupy 24,200 square feet in the property, which is 43 percent pre-leased. Gaithersburg, Md.-based DVA Architects designed the project to sustainable standards.
LAKELAND, FLA. — DBM Associates has purchased a 72,206-square-foot manufacturing facility from Star East Corp. for $3 million. The 15-year-old property is located on 12 acres at 2655 Old Tampa Highway in Lakeland. Steinbauer Associates' Jim Steinbauer represented the buyer in the transaction. Colliers International's William Parke, Dee Seymour and Edward Miller represented the seller.
SILVER SPRING, MD. — An affiliate of Petrie Ross Ventures has sold the 350,000-square-foot City Place Mall in Silver Spring to Hutensky Capital Partners for $22.8 million. The three-party deal included a payoff of all outstanding debt. The buyer plans to redevelop the property.
DULUTH, GA. — Brookfield Asset Management and Landmark Residential have purchased Gwinnett Crossing, a Class B apartment complex, from an undisclosed party for $16.7 million. The 564-unit property is located at 4015 Satellite Boulevard in Duluth. The buyer will undertake $8 million in renovations on the property.
AUSTELL, GA. — McWhirter Realty Partners is developing a 7,000-square-foot surgery center in Austell for Physicians of Pinnacle Orthopaedics. The property will house an outpatient procedure room and two operating rooms stocked with state-of-the-art equipment. Delivery is expected this fall.
EAST SPENCER, N.C. — Boral Composites will develop a manufacturing facility in East Spencer adjacent to its existing brick manufacturing warehouse. The property, which will be designed to achieve LEED certification, will house 25 workers. At the site, Boral will produce a line of exterior building products made from recycled materials.
ORLANDO, FLA. — Nick Boehme of CB Richard Ellis has served as project manager for three renovations at civic institutions in Orlando. He oversaw the expansion and renovations of the 50,000-square-foot International Academy of Design and Technology and the 30,000-square-foot Sanford Brown Institute. The third project was a multi-phase interior renovation of Le Cordon Bleu College of Culinary Arts.
CLERMONT, FLA. — Doug Rozzell of Thomas D. Wood & Co. has arranged a $9.19 million construction loan for the Golden Eagle Village Publix. The 63,950-square-foot Golden Eagle Village will be located on Highway 27 in Clermont. A national bank provided financing for the loan.
LEXINGTON, KY. — Williams Land Corp. has purchased the 143-unit Cross Creek Apartments from an undisclosed seller for $2.88 million. The Fayette Circuit Court named McKinley receiver of the complex in May. The property, which is located at 3489 Lansdowne Drive in Lexington, is 75 percent occupied. Silvestri-Craig Realtors' Craig Silvestri brokered the sale.