ATLANTA — Bell Fund III has purchased the 318-unit The Heights at Cheshire Bridge from a private seller for an undisclosed price. Located on 11 acres of land at 2124 Cheshire Bridge Road in Atlanta, the property contains eight separate buildings and a clubhouse. Bell Partners will manage the property.
CHARLESTON, S.C. — Noble Investment Group has purchased the 126-room Holiday Inn Charleston Historic District and an adjacent land parcel from a private party for an undisclosed price. The company plans to add 50 units and 5,000 square feet of meeting space to the Charleston property and rebrand the hotel as a Courtyard by Marriott. Moeckel & Co.'s Bill Moeckel represented the seller in the transaction.
JACKSONVILLE, FLA. — Red Apple Development has purchased the 60,000-square-foot former Southern Bell Call Center from V&K Investments for an undisclosed amount. The Jacksonville property is undergoing renovation and will open in August as The Duval Charter School at Arlington. The school will serve 850 children in kindergarten through the eighth grade. Sperry Van Ness' Dan Shalloway represented the buyer. CB Richard Ellis' Bruce Jackson and Goldenseal Realty's Gary Turner represented the seller.
PALM BEACH GARDENS, FLA. — The Kolter Group has sold the 476-unit San Merano at Mirasol multifamily complex to TA Associates for $69.06 million. The Palm Beach Gardens property was constructed in 2004. CB Richard Ellis represented the seller in the transaction.
ST. PETERSBURG, FLA. — LA Fitness has leased 46,820 square feet from Regency Centers at Marketplace Shopping Center in St. Petersburg. The property is located at 6802 22nd Ave. North. The space, which is currently under construction, will feature basketball and racquetball courts, a pool, retail space and a juice bar. Delivery is slated for the first quarter of next year. The Shopping Center Group's Rebecca Hallum represented LA Fitness in the lease.
ORLANDO AND MAITLAND, FLA. — NAI Realvest has brokered two office sales in Florida totaling more than $9 million. In the first transaction, Adler Group of Miami purchased an eight-building investment property from a private party for $5.75 million. The 92,573-square-foot development, located at 1218-1232 Winter Garden-Vineland Road in Orlando, includes seven office buildings and one retail building. George Livingston, Christie Alexander and Drew Saphos of NAI Realvest brokered the sale. NAI Realvest's Thomas Hankins represented Lucien Way LLC in its $3.45 million sale of a 59,798-square-foot office building to Alliance Lucien Way. The property is located at 2200 Lucien Way in Maitland.
SARASOTA, FLA. — FirstBank Puerto Rico has sold the 200-unit Garden Grove Apartments to Lindy-Zell Garden Grove LLC for $6.55 million in an REO sale. The property, which is 84 percent occupied, is located at the intersection of Clark and Lockwood Ridge roads in Sarasota. Sperry Van Ness' Ashley Bloom and J. Chris Malkin represented the buyer.
SAVAGE, MD. — Hanna Paper Recycling has renewed its 58,825-square-foot warehouse lease at 8840 Greenwood Place in Savage. Cassidy Turley's Michael Bosica represented Hanna Paper. Ryan Commercial's Matt Ryan and Tom Whelan represented the landlord.
WASHINGTON, D.C. — First Potomac Realty has purchased the 129,035-square-foot office property at 500 1st St. NW in Washington from AREA Property Partners Value Enhancement Fund VII for $68 million. AREA purchased the property with Van Ness Property Group in 2008 for $44.9 million. The Federal Bureau of Prisons leases the entire building.
BRADENTON, FLA. — TGM Associates has purchased the 392-unit Yacht Club at Heritage Harbor from Bainbridge Communities and their institutional partner for $43.5 million. The Yacht Club, which was completed in 2007, is spread across 20, three-story buildings. The Bradenton multifamily property features a clubhouse, a pool, a fitness salon, two lakes and athletic courts. Jamie May and Matt Mitchell of Marcus & Millichap represented the seller.