LAKE MARY, FLA. — Progress Energy has signed a 108,499-square-foot lease renewal with Duke Realty for the entire Northpoint III office building, which is located in Lake Mary’s Northpoint office park. Progress Energy’s subsidiary, Florida Power, has leased the space since 2001. Tampa, Fla.-based The Duncan Cos.’ Ronnie Duncan represented Progress Energy in the lease. Tim Perry served as in-house representation for Duke.
MEMPHIS, TENN. — Rochester, N.Y.-based Broadstone Net Lease has purchased a medical office building in Memphis from an undisclosed party for $3.3 million. DSI Renal Care has a lease on the space until 2027. Broadstone arranged the acquisition using a tax-deferred UPREIT process.
During the past 12 months, the Louisville retail real estate market has proven itself to be full of opportunities as well as challenges. An almost equal amount of developments were completed since the beginning of last year as were put on hold. Likewise, as many stores have opened as have closed, and as many submarkets have thrived as have struggled. In spite of these inconsistencies, the Louisville market finds itself uniquely well-positioned for resumed retail growth as the national economy rebounds. The northeast and east retail submarkets remain extremely stable. Within these markets there are more than 2 million square feet of retail space including some of the city’s premier shopping destinations. The Summit, the city’s only lifestyle center, is more than 98 percent leased with a tenancy that boasts some of the most recognizable names in lifestyle retail and fast casual dining. Likewise, Springhurst Towne Center is more than 90 percent leased with the anchor tenants Target, Meijer, TJ Maxx, Liquor Barn and Dick’s Sporting Goods. The landscape will continue to evolve with the completions of Phase I of Chamberlain Pointe, a mixed-use center, and North Commons, a town center development. St. Matthews continues to be widely considered the …
GREENVILLE, S.C. — Healthcare Trust of America has purchased a 16-building, 856,000-square-foot medical office portfolio from Greenville Hospital System for $162 million. More than 90 percent of the space purchased is located adjacent to one of the health care provider’s four hospitals. Greenville Hospital System will continue to occupy 84 percent of the buildings purchased.
MOBILE, ALA. — Littleton, Colo.-based Lamar Cos. has sold the 76,364-square-foot Hillcrest Marketplace shopping center to a private Atlanta-based buyer for an undisclosed amount. The property, located on 11.83 acres at 6300 Grelot Rd. in Mobile, is anchored by Winn-Dixie and CVS/pharmacy. Firehouse Subs, Hallmark, Hershey’s Ice Cream and Little Caesar’s are also housed in the center. Kevin Fryman of Hanley Investment Group Real Estate Advisors brokered the sale.
GREENSBORO, N.C. — Greensboro-based Brown Investment Properties has sold the 144-unit Palmer House Apartments to Havens Properties of Richmond, Va., for $6 million. The complex is located on Yanceyville Street in Greensboro. Hal Kern served as in-house representation for Brown Investment Properties.
NORFOLK, VA. — Virginia-based S.L. Nusbaum Realty Co. has completed the 194-unit River House Apartments. Located near the Granby Street Bridge in Norfolk, the property has views of the Lafayette River. Apartment amenities include a heated pool, a fitness center and a clubhouse.
FORT LAUDERDALE, FLA. — Miller Construction Co. has finished construction on RoboVault, a high-tech storage facility prototype. The property is located at the interchange of I-595 and U.S. 1 in Fort Lauderdale. RoboVault features include automated storage retrieval, biometric recognition and climate-controlled wine storage spaces. The property was constructed to withstand Category 5 hurricanes.
LAFAYETTE AND LAKE CHARLES, LA. — A private institution based in Pennsylvania has sold a seven-property Louisiana apartment portfolio to a Tennessee party for an undisclosed amount. The buyer purchased the ownership entity with bond financing. The Lafayette properties are the 240-unit Pinhook South Apartments, located at 200 Merchants Blvd., and the 80-unit Mon Chateau Apartments, located at 2820 Louisiana Ave. In Lake Charles, the 220-unit Suffolk Manor Apartment Homes, located at 2960 Lake St.; the 200-unit Le Chateau Apartments, located at 4404 Canal St.; the 180-unit Shadowood Apartment Homes, located at 1045 Walters St.; and the 80-unit Trace Apartments, located at 211 Louie St., were included in the sale. Apartment Realty Advisors’ Matt Heininger brokered the sale.
HOWARD COUNTY, MD. — Baltimore-based St. John Properties has entered into an agreement with Greenebaum and Rose, Associates, to build five to six buildings in the 600-acre Maple Lawn Maryland mixed-use development in Howard County. St. John is currently building two industrial spaces totaling 80,000 square feet in the Maple Lawn Business Park. When finished with its commitment, the firm will have constructed nearly 300,000 square feet of warehouse space in the development.