LOUISIANA — Covington, La.-based Stirling Properties, a preferred developer of Walgreens drugstores, has commenced construction on four Walgreens stores and has recently completed a fifth store in Louisiana. Openings for a 14,820-square-foot property in Lafayette, La., and 14,490-square-foot stores in Kenner and Meraux, La., are slated for the fourth quarter of this year. A 14,490-square-foot store in Denham Springs, La., will open during the second quarter of 2010. A 14,490-square-foot Walgreens opened in Zachary, La., on February 2.
Southeast
PLANT CITY, FLA. — Keene Construction Co. of Orlando, Fla., has finished construction on a 45,000-square-foot Publix in Walden Woods, a shopping center that spans more than 70,000 square feet. The store, which was developed by Tampa, Fla.-based RMC Property Group, is located at 2204 James L. Redmond Parkway in Plant City. Orlando-based Cuhaci & Peterson Architects designed the building.
ROSWELL, GA. — Ronen Abergel of Arbor Commercial Funding’s New York City office has secured a $10.61 million loan for the 312-unit Kings Bridge apartment complex in Roswell. Financing for the 7-year loan was provided by Fannie Mae. The loan carries a 6.41 percent interest rate and a 30-year amortization.
TAMPA, FLA. — Capital Realty Grand Oak has received a $10 million first mortgage for a 67,917-square-foot office building leased to the Veterans Administration. The property is located at 8900 Grand Oak Circle in Tampa. Grosvenor Investment Management US provided financing for the 10-year loan, which comes with a 25-year amortization rate. Robert Hernandez of NorthMarq Capital’s Tampa office secured the loan.
LEXINGTON, KY. — Chicago-based Ventas has sold the Samaritan acute care hospital to affiliates of the University of Kentucky for $35 million. The sale of the hospital, which is located in Lexington, includes a 50,000-square-foot medical office building. Both the hospital and the office building were being leased by the university.
NAPLES, FLA. — The Adler Group of Miami has received a $22 million loan for the purchase of two business parks totaling 252,422 square feet. Collier Park of Commerce and Commerce Center encompass 11 buildings near the Naples Municipal Airport in Naples. Financing for the loan was provided by Mercantil Bank of Venezuela. New York-based Cushman & Wakefield Sonnenblick Goldman secured the loan.
SAVANNAH, GA. — Rosemont, Ill.-based McShane Construction has completed the 51,522-square-foot fourth phase of Atlanta-based The Integral Group’s Ashley Midtown project. The phase adds 38 units in 13 two-story and four one-story buildings to the Savannah apartment, townhome and senior-living development. McShane has also constructed a community building, which features offices, a library and clubroom space, on the property. Hansen Architects of Savannah designed the project.
ATLANTA — Design and Production will begin a $10 million renovation to Jimmy Carter’s presidential library, the 24,000-square-foot Carter Center, on April 27. The project, which is being designed by Bethesda-based Gallagher & Associates, will give the museum a new look and highlight new exhibits focusing on the former president’s life after the Oval Office. Funding for the renovation came from private sources. The new museum will open on Carter’s 85th birthday on October 1.
BOCA RATON, FLA. — West Palm Beach, Fla.-based Suffolk Construction Co. has completed the 15,283-square-foot Office Depot Center for Executive Education on the campus of Florida Atlantic University in Boca Raton. The $5.6 million property will be used by Office Depot executives during training sessions and FAU graduate students. The two-story building features a tiered seminar room, meeting rooms, classrooms, study areas and offices. West Palm Beach-based SchenkelShultz Architecture designed the project.
ORLANDO, FLA. — The Pizzuti Cos. will break ground on a 160,000-square-foot office property at 777 N. Orange Ave. in Orlando later this year. The Class A building will be constructed to LEED specifications and will house 10,000 square feet of ground-floor retail space. Orlando-based HuntonBrady Architects is designing the property, and Birmingham, Ala.-based Brasfield & Gorrie will serve as the general contractor. Pizzuti is aiming for a January 2011 completion.