ORLANDO, FLA. — Marcus & Millichap Real Estate Investment Services has brokered the sale of a 2,227-square-foot Burger King between two undisclosed parties for $1.23 million. The property is located at 728 S. Alafaya Trail in Orlando. Marcus & Millichap’s Orlando office, along with Glen Kunofsky of the firm’s New York City office, represented the buyer and seller.
Southeast
ORLANDO, FLA. — Orlando-based Tilt-Con Corp. has broken ground on the $11.5 million Florida District 9 Medical Examiner’s Office. The property is located at 2350 E. Michigan St. in Orlando and encompasses a morgue, a classroom, offices and training areas. Sanford, Fla.-based Wharton-Smith is serving as construction manager of the LEED-certified project, which was designed by Orlando-based MRI Architectural Group. Delivery is expected in September.
JOPPATOWNE, MD. — Tal Savariego of Meridian Capital Group’s New York City office has arranged a $10 million loan for an expansion of the 300-unit Harborside Apartments in Joppatowne. The expansion will accommodate the influx of workers expected to help with the nearby Aberdeen Proving Ground’s base realignment campaign. The loan comes with a 3-year, interest-only term. Harborside, the only multifamily property in Joppatowne, was built in the mid-1970s.
WASHINGTON, D.C. — Washington-based 2031 Florida Avenue LLC has sold a 12,457-square-foot office building to the local investor 2033 Florida Avenue LLC for $5.25 million. The five-story building is located near the intersection of Connecticut and Florida avenues in Washington. A law firm leases the upper floors, and two retail tenants occupy the first floor. Bill Prutting of CB Richard Ellis’ Washington office represented the seller; Steve Solomon of Silver Spring, Md.-based Solomon Real Estate represented the buyer.
GWINNETT COUNTY, GA. — The Superior Court of Gwinnett County has appointed Ann Arbor, Mich.-based McKinley the receiver of five Georgia apartment complexes totaling 1,559 units. The complexes include the 264-unit Somerset at the Crossing in Tucker; the 266-unit Lacota Apartments in Doraville; the 305-unit Steeple Chase in Norcross; the 352-unit Sinclair Apartments in Norcross; and the 372-unit Alden Ridge in Clarkston.
CLINTON, S.C. — Griffin Capital has borrowed a $13 million loan for its 560,000-square-foot warehouse, located at 1702 Springdale Dr. in Clinton. Renfro Corp., a sock manufacturer, occupies the building. The 67 percent loan-to-value loan carries a 3-year term and was funded by a regional bank. Adam Levinson of Cohen Financial’s Skokie, Ill., office secured the loan.
ATLANTA — FFC Atlanta has sold the 232-unit Clarion Hotel Atlanta Airport to a California-based buyer for an undisclosed price. The Atlanta property includes indoor and outdoor pools, a restaurant and more than 7,000 square feet of meeting space. Jones Lang LaSalle Hotels represented the seller.
OCALA, FLA. — Edwards Construction Services of Ocala has started three projects in The Villages of Lake Sumter, an Ocala retirement community. The company is demolishing and undertaking interior reconstruction of the 52,500-square-foot La Reina building. Edwards is also constructing the 9,129-square-foot Creek Side Mill building and the 8,791-square-foot Morgan Stanley Shell building.
KENNESAW, GA. — Hobby Lobby has signed a 45,000-square-foot lease with Developers Diversified Realty for a former Goody’s store. The space is located in Kennesaw’s Barrett Pavilion shopping center. Steve Gunning and Mike Leonard of Dallas-based SRS Real Estate Partners represented the tenant.
NEW ORLEANS — In what is being called the first major healthcare project in New Orleans since Hurricane Katrina, Birmingham, Ala.-based Brice Building Co. has broken ground on the $100 million Louisiana Cancer Research Center. The 250,000-square-foot property is located between the health sciences centers at Louisiana State University and Tulane University. More than 300 workers will be employed at the completed center. RMJM Hillier Architecture designed the project, which is slated to deliver in August 2011.