PENSACOLA, FLA. — Sojourn Lodging has sold a 100-unit Quality Inn located in Pensacola to Jay & Vishal Corp. for an undisclosed amount. The buyer will undertake cosmetic renovations to the three-building property, which is visible from US Highway 98. Sojourn was represented in the deal by David Mumford, Steve Kirby and Burton Brooks of Mumford Co.
WASHINGTON, D.C. — The General Services Administration has signed a 40,996-square-foot lease expansion with StonebridgeCarras for space at One Constitution Square in Washington. The GSA will now occupy the entire 329,251-square-foot property, which is located at the intersection of 1st and M streets in the NoMa neighborhood. The 1.6 million-square-foot first phase of Constitution Square — which also includes the 589,000-square-foot Two Constitution Square, a 440-unit apartment building, a Hilton Garden Inn, a Harris Teeter and 30,000 square feet of retail space — is 99 percent pre-leased. Affiliates of StonebridgeCarras and Walton Street Capital are developing the project.
ORLANDO, FLA. — Pelliconi Group of Italy has leased 86,413 square feet from Duke Realty Corp. in Parksouth Distribution Center, eight-building, 990,091-square-foot business park. The property is located near the Florida Turnpike in Orlando. Pelliconi will move into the space in mid-April and has predicted that they will staff 24 jobs during the next 3 years. NAI Realvest Partners' Rob Blackwell represented the tenant. Tim Perry served as in-house representation for Duke Realty.
TAMPA AND PLANT CITY, FLA. — Thomas D. Wood has arranged two loans totaling $1.6 million for two Florida apartment complexes. The Standard Life Insurance Company financed a 25-year, $1.45 million loan for the 72-unit Pepperwood Apartments. The property is located at 13725 Susan Kay Drive in Tampa. The loan carries a 6.9 percent interest rate and a 25-year amortization. Standard Life also financed a $1.15 million loan for the 55-unit Strawberry Place Apartments, located at 1400 Strawberry Place in Plant City, for the same terms. Doug Rozzell of Thomas D. Wood secured the loans.
LEXINGTON, KY. — The Fayette Circuit Court has named McKinley as receiver of the Cross Creek Apartments property in Lexington. The 143-unit complex, located at 3498 Lansdowne Drive, is composed of one- and two-bedroom apartments and two-bedroom townhomes. Amenities include a pool and a business center.
MIAMI — Sungard iWorks has sold a 54,000-square-foot office building to 2000 South Dixie Highway LLC for $4.92 million. Located at 2000 S. Dixie Highway in Miami, the property is 65 percent occupied; the seller will continue to occupy 35 percent of the building. John Crotty and David Metalonis of Colliers Abood Wood-Fay represented the seller. Holly Sime Realty's Scott Sime represented the buyer.
TAMPA, FLA. — Indianapolis-based Sun Development and Management Group has opened a 127-unit Spring Hill Suites by Marriott in Tampa. The property is located at the 460,000-square-foot Tampa Palms Professional Center on Commerce Center Boulevard. Hotel features include a fitness center, a heated pool and meeting rooms.
HARRISONBURG, VA. — Best Buy has signed a lease with THF Harrisonburg Crossing LLC to occupy 32,958 square feet of space at Harrisonburg Crossing in Harrisonburg. The shopping center also houses The Home Depot, Ross Dress for Less, Walmart, Barnes & Noble Booksellers and Staples. Gerald Divaris and Debbie Wake of Divaris Real Estate represented the landlord.
MEMPHIS, TENN. — Bill Jones of Love Funding's New York office has arranged a $4.72 million loan for the 208-unit Greenbriar Apartments. The property is located at 3131 Madewell St. in Memphis. Funding was obtained using the HUD 207/223(f) program. The 25-year loan carries a 4.75 percent interest rate.
FORT MYERS, FLA. — Construction is nearly complete on the 54,000-square-foot Gulf Coast Medical Park, a medical office development in Fort Myers. MK Construction is developing the property, which includes The Lee Memorial Health System's Wound Care Center, a facility for The Colorectal Institute and various pediatric offices. The project is 90 percent complete.
