ATLANTA — Edgewood Avenue Storage & Wine Cellar LLC will start building a 133,000-square-foot storage and retail facility during the fourth quarter of this year. The six-story property, which will be located at 653 Edgewood Ave. in Atlanta, will contain storage space, a wine cellar and retail shops. The development is on the grounds of the former Atlanta Metal recycling facility, and site work, which included removing asbestos and properly disposing of contaminated materials, was supervised by the federal and local branches of the Environmental Protection Agency.
CUMMING, GA. — With the opening of Atlanta Fitness and Ace Hardware, Roberts Commercial Real Estate has completed the first phase of its 100,000-square-foot Windermere Village retail development. The project, which is located at the intersection of Windermere Parkway and Front Nine Drive in Cumming, sits across from an entrance to Windermere Community. When complete, the project will include restaurants and additional retailers.
LITTLE ROCK, ARK. — Dallas-based Strode Property Co. has secured Target as a major tenant in the company’s 711,000-square-foot Park Avenue mixed-use project, which is currently under development. Target is expected to open a 138,000-square-foot store in October 2010. Park Avenue is located on University Avenue in Little Rock.
ANDERSON, S.C. — The Clemson University Research Foundation has purchased the 48,830-square-foot Clemson Research Park from Sycamore Holdings for an undisclosed amount. The property is located at 103 Clemson Research Park Blvd. in Anderson. P. Randall Bentley and Tim Bright of Greenville, S.C.-based Bentley Commercial/CORFAC International represented the seller.
KENNETH CITY, FLA. — Centro Properties Group has sold the 95,320-square-foot Plaza 66 shopping center to Plaza 66 LLC for an undisclosed amount. The property, which is located in Kenneth City, is anchored by a 55,230-square-foot Sweetbay Supermarket. Plaza 66 is 91 percent occupied and houses Family Dollar, Cici’s Pizza, Rent-A-Center, Fantastic Sam’s and Jackson Hewitt Tax Service. Jim Michalak, Anthony Blanco and Lenard Williams of Plaza Advisors represented the seller.
MIAMI — PPF Lincoln-Medley has leased more than 134,00 square feet in Building 300 at the 670,000-square-foot Lincoln Logistics Park to an undisclosed record-storage firm. With the lease, the tenant will occupy 82 percent of the building, which is located at 12646 N.W. 115th Ave. in Medley. Steven Medwin, Harry Wardell and Nick Wigoda of Lincoln Property Co. of Florida represented the landlord.
GAINESVILLE, GA. — Orbital Tool Technologies has signed a 50,000-square-foot lease with an undisclosed landlord for space in the Chicopee Industrial Complex. The property is located at 2250 Atlanta Highway in Gainesville. Gainesville-based Industrial Properties Group’s Drew Addison represented the landlord in the transaction. Addison also represented the landlord, Presco Properties, in its 35,000-square-foot warehouse lease with Specialty Rolled Metals. The property is located at 2545 Monroe Dr. in Gainesville. Prudential GA Realty’s Gary Allen represented the tenant.
RICHMOND, VA. — Alexander Enterprises-1 has sold a 16,813-square-foot retail property to Michael D. Sifen Inc. for $1.2 million. Located at 4300 W. Broad St. in Richmond, the building sits on 2.71 acres and is home to a Budget Rent-A-Car store. The buyer plans on redeveloping some of the space, keeping the tenant on site. Thalhimer’s Bruce Bigger and Millard Jones brokered the sale.
WEST PALM BEACH, FLA. — Azalea Village has secured a $19.5 million loan for the purchase of the 384-unit Archstone Villages apartment complex from an undisclosed seller. The West Palm Beach property includes a fitness room, a pool and recreation areas. Freddie Mac funded the 10-year loan, which carries a 30-year amortization. Charles Foschini of CB Richard Ellis’ Miami office arranged the loan. Robert Given, who works in the firm’s Miami office, represented the seller in the transaction.
ATLANTA — Behringer Harvard has purchased the 253-unit Mariposa Loft Apartments from a private seller for an undisclosed price. Located on 5 acres at 100 Montag Circle in Atlanta, the 5-year-old property is 96 percent occupied. Mariposa also includes a pool and sauna, a fitness center and a business center.