BIRMINGHAM, ALA. — East Lansing, Mich.-based Mill Steel has leased 122,000 square feet of warehouse space from an undisclosed landlord at the Birmingham Food Terminal and Distribution Center. The company will generate 30 new jobs at the Birmingham facility. EGS Commercial Real Estate's Marc Eason represented the landlord in the lease. John Clisby of Engel Realty Co. represented Mill Steel.
BOCA RATON, FLA. — 140 N. Federal Highway LLC has purchased a 7,580-square-foot BB&T Bank Building from Seacoast National Bank for $2.9 million in an REO sale. The property is located at 140 N. Federal Highway in Boca Raton. Scott O'Donnell, Dominic Montazemi, Kirk Nelson and Moguel Alcivar of CB Richard Ellis brokered the sale.
WINTER PARK, FLA. — Winter Park-based Freedom Holding Co. has purchased a 5,600-square-foot office building from The Benton Aubourne Irrevocable Trust for $1.15 million. The property is located at 831 W. Morse Blvd. in Winter Park. NAI Realvest's Jack Lynch brokered the sale.
STARKVILLE, MISS. — Wood Partners has sold the 240-unit 21 Apartments in Starkville to McKinney Properties for an undisclosed price. The private student housing complex, built in 2006, is located near Mississippi State University and was 98 percent leased at the time of sale. Ryan Reid, national student housing director for CB Richard Ellis, along with Blake Pera of CBRE Memphis, negotiated the sale of the property for Wood Partners. CBRE’s James Tramuto and David Meese provided the debt financing services on behalf of McKinney Properties by securing a 10-year Freddie Mac fixed-rate loan with 2 years of interest-only payments, followed by a 30-year amortization schedule.
ROCKVILLE, MD. — The Realty Associates Fund IV has sold the 135,664-square-foot Montrose Office Park to a private party for $22.5 million. The three-building property is located at 3202, 3204 and 3206 Tower Oaks Blvd. in Rockville. McShea & Co.'s Brian McCarthy, Bob Dickman and Bob Wrightson represented the seller.
LAKE MARY, FLA. — Remington Administrative Services has purchased a 75,860-square-foot office building from an undisclosed party for $10 million. The property, which houses the administrative headquarters for Remington Colleges, is located at 500 International Parkway in Lake Mary. Realvest Capital Advisors arranged financing for the purchase. George Livingston and Christie Alexander of NAI Realvest brokered the sale.
ROCKVILLE, MD. — SunTrust Bank and Thomson Reuters have leased a total of 90,516 square feet from The Realty Associates Fund VIII in Rockville. Thomson Reuters signed a new 5-year lease for 69,686 square feet; SunTrust renewed its 20,839-square-foot lease for 7 years. Located at 1445 Research Blvd. in Rockville, the property is currently 90 percent leased. McShea & Co.'s Bob Dickman and Brian McCarthy represented the landlord in the transaction.
HARFORD COUNTY, MD. — St. John Properties has broken ground on more than 135,000 square feet of office and flex space as part of the Government and Technology Enterprise (GATE) project at Aberdeen Proving Ground in Harford County. The one-story office building and two flex buildings will be built to silver LEED standards and will represent the completion of the GATE project's first phase. Delivery is expected this summer, and the second phase of construction will begin in May.
POOLER, GA. — H.J. High Construction Co. and Batson-Cook Co. are gearing up to break ground on the $16.9 million second phase of the Mitsubishi Power Systems Americas Savannah Machinery Works development in Pooler. The phase includes a 75,000-square-foot manufacturing bay and a mile-long rail line. Delivery is expected in April 2011.
WASHINGTON, D.C. — Quality Housing Partners has sold the 28-unit Truman House apartment complex to an undisclosed buyer for $4.2 million. The property is located at the intersection of 14th Street NW and N Street NW in Washington. Marcus & Millichap's Firoozabadi Group represented the seller in the transaction.