OLIVE BRANCH, MISS. — Cardinal Health has signed a 211,000-square-foot industrial lease with ProLogis for space in the 980,464-square-foot ProLogis Park DeSoto for an undisclosed price. The property is located at the intersection of Highways 305 and 78 in Olive Branch. Cardinal will distribute medical and surgical products to clients in Northern Mississippi, Western Tennessee and Arkansas from the property. The park, which also houses the tenants GE Energy and Menlo Worldwide Logistics, is 82 percent leased.
EVERGREEN, ALA. — Hoar Construction of Birmingham, Ala., has broken ground on a 56-unit Sleep Inn Hotel in Evergreen. The 28,000-square-foot property will feature an outdoor swimming pool. Delivery is slated for January.
RIDGELAND, MISS. — Birmingham-based Hoar Construction is nearly finished constructing the structural frame, shell and core of the 368,000-square-foot Renaissance 200 office tower. The property is located adjacent to Renaissance at Colony Park in Ridgeland. The Class A building was designed by Atlanta-based Cooper Carry & Associates, and it is being constructed to LEED Silver standards. Hoar will also complete a build-out of Ridgeland-based Butler Snow’s new law offices on the top four floors of the property. The development is expected to deliver in October.
FORT LAUDERDALE, FLA. — A New York-based company has sold the 16-unit Sun Terrace Apartments to an undisclosed party for $1 million. Located at 619 Breakers Ave. in Fort Lauderdale, the property features six studio units and 10 one-bedroom units. Felipe Echarte and Joseph Thomas of Marcus & Millichap’s Fort Lauderdale office represented the seller.
BOCA RATON, FLA. — Liberty Property Trust has signed lease renewals totaling more than 78,000 square feet for space in the firm’s Boca Colonnade building, located at 777 Yamato Rd. in Boca Raton. Campus Management Corp. has signed a 53,619-square-foot lease. Greg Katz of Studley’s Miami office represented Campus Management in the long-term lease. Verizon Wireless Personal Communications has signed a 25,262-square-foot lease. Keith Edelman and Scott Goldstein of Jones Lang LaSalle’s Miami office represented the tenant.
PORT ORANGE, FLA. — The local engineering firm Eastport QLH has purchased a 10,000-square-foot warehouse from Great Falls, Va.-based Environics USA for $925,000. The property, which sits on 1.17 acres of land at 4401 Eastport Parkway in Port Orange, will be used as Eastport QLH’s new headquarters. Paul Partyka of Orlando, Fla.-based NAI Realvest represented the seller.
NORTH LITTLE ROCK, ARK. — Charlotte, N.C.-based Grandbridge has arranged a $21.28 million first mortgage for the 288-unit Lexington Park Apartments, located at 7601 Vestal Blvd. in North Little Rock. The 10-year loan, which was funded by Fannie Mae through its DUS program, carries an interest rate in the mid-5 percent range and a 30-year amortization. The Class A apartment complex features a pool, a recreation area and a clubhouse. David Boerner of Little Rock–based Plunkett Boerner & Associates and Alan Tapie of Grandbridge’s Atlanta office secured the loan.
GAITHERSBURG, MD. — Denver-based Dividend Capital Total Realty Trust has purchased the 232,717-square-foot 270 Center retail property from an undisclosed seller for an undisclosed price. The center, which is currently fully leased, is located at the intersection of Shady Grove and Gaither roads in Gaithersburg. CB Richard Ellis brokered the sale.
FAIRFAX, VA. — Long Island, N.Y.-based Gyrodyne Co. of America has acquired the 58,000-square-foot Fairfax Medical Center from an undisclosed seller for $12.89 million. Located at 10721 Main St. in Fairfax, the property is currently 84 percent leased. The Fairfax Medical Center encompasses two four-story buildings spread across 3.5 acres. Virginia Commerce Bank provided $8 million in mortgage financing.
RICHMOND, VA. — Allied Capital REIT has sold the 146,305-square-foot Midlothian Center to Midlothian Plaza Associates for $7 million. The property, located at the intersection of Wadsworth Drive and Midlothian Turnpike in Richmond, is 57 percent occupied by medical and retail service tenants. Eric Robison, Richard Thalhimer, James Ashby, IV, and C. Lee Warfield, III, of Thalhimer’s Richmond office brokered the sale.