CHATTANOOGA, TENN. — Graycor Construction Co. will break ground on $63 million worth of buildings for Volkswagen’s new $1 billion Chattanooga facility at the end of April. Graycor will build the assembly and body shops, the technical center and a social area for Volkswagen. More than 60 percent of the job will be sourced to local contractors, and 11 percent will be sourced to minority-owned suppliers.
BOGALUSA, LA. — A privately-held REIT has purchased an 11,945-square-foot CVS/pharmacy from an undisclosed retail developer for $4.15 million. The property is located on Superior Avenue in Bogalusa. Ryan Butler and Brad Moulder of Tulsa, Okla.-based Stan Johnson Co. represented the seller, and the firm’s Gill Warner, Rod Pickney and Chad Byerly represented the buyer.
OAK RIDGE, TENN. — Heritage Center has sold a 132,000-square-foot office building to Cornelius, N.C.-based Manhattan Project, an affiliate of Fulcra Enterprises, for $2 million. The property, Building K1007, is located in the East Tennessee Technology Park in Oak Ridge. Building K1007 was built in 1960 and is currently leased to Bechtel Jacobs Co. The technology park encompasses seven buildings, four of which have been sold to Fulcra in an effort to release government-owned buildings to parties in the private sector. Maribel Koella and Matt Fentress of Knoxville, Tenn.-based NAI Knoxville brokered the sale.
ELIZABETH CITY, N.C. — Los Angeles-based BH Properties has leased a 102,000-square-foot retail property to the U.S. Coast Guard. The building, a former Wal-Mart, is located in the Port Elizabeth Shopping Center in Elizabeth City. The Coast Guard will use the space to store aircraft parts. John Wessling and Bill Overman of GVA Advantis’ Norfolk, Va., office represented the landlord.
RALEIGH, N.C. — Atlanta-based Choate Construction is eyeing a summer completion date for a 107,000-square-foot dormitory building on the campus of Meredith College, an all-women school located at 3800 Hillsborough St. in Raleigh. The property is broken up into 48 four-bedroom and 30 two-bedroom apartments; each unit features a full kitchen, a washer and dryer, private bedrooms and two full bathrooms. The dorm is being built to LEED standards and includes water-saving fixtures and recycled construction materials.
WASHINGTON, D.C. — Marriott’s 218-room Courtyard Washington D.C./U.S. Capitol will open its doors on April 15 in the city’s NoMa district, making it the first hotel in the mixed-use Washington neighborhood. The eight-story property is located at 1325 Second St. N.E. Seven retailers will ultimately move into space in the hotel; Au Bon Pain recently opened on the ground floor. Property features include a green roof, a restaurant and market, 2,800 square feet of meeting space, an indoor swimming pool and a fitness center.
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.