TAMPA AND OCALA, FLA. — A California-based realty firm has purchased two Florida facilities from U-Store-It for a combined $5.06 million. The 60,900-square-foot U-Store-It Tampa sold for $2.81 million, and the 42,091-square-foot U-Store-It Ocala sold for $2.25 million. Michael A. Mele and Chico LeClaire of Marcus & Millichap’s Tampa and Denver offices, respectively, represented both parties in the transaction.
Southeast
NASHVILLE, TENN. — Principal Real Estate Investors has sold a two-building office property spanning 40,897 square feet to 60 MSE, GP, for $4.85 million. The offices are located at 54-60 Music Square East in Nashville. Colliers Turley Martin Tucker – Nashville’s Crews Johnston, Perry Gooch, Rob Lowe and Whit McCrary brokered the sale. Thomas McDainel of Boyle Nashville represented the buyer.
MIAMI — Noam Kaminetzky of Meridian Capital Group’s Boca Raton, Fla., office has secured $4.35 million in financing for a 143,000-square-foot Miami office building. The 14-story property is located on Biscayne Boulevard. The 9-year loan comes with a 6.75 percent interest rate.
GAINESVILLE, FLA. — Longwood, Fla.-based Bentley Architects + Engineers has entered the design phase for the 177,317-square-foot Eastside Operations Center for Gainesville Regional Utilities. The $50 million Gainesville property, which is slated for completion in December 2010, will house some of the utility company’s administration and maintenance operations. The property will be built to Silver LEED standards by Orlando, Fla.-based Skanska.
EVANS, GA. — Crosland has begun construction on the 100,000-square-foot Riverwood Town Center in a joint venture project between the company and Meybohm Commercial Properties of Augusta, Ga. The center will serve as the retail side of the master-planned Riverwood Plantation golf community. Located at the intersection of Washington Road and William Few Parkway in Evans, the retail space is anchored by a 45,600-square-foot Publix. The grocery store, which will be joined by an 11,745-square-foot CVS/pharmacy, will open this fall. A bank, restaurants and service-oriented retailers are being targeted for the remaining space.
MARIETTA, GA. — Lori Schneider of Marcus & Millichap’s Fort Lauderdale, Fla., office represented both parties in the sale of the 81,102-square-foot Marietta Park for $15.3 million. The medical office building was built in 2000 and is located at 780 Canton Rd. in Marietta. HCA, a hospital operator, occupies most of the property. The parties involved in the transaction were not disclosed.
TAMPA, FLA. — Chicago-based Blackhawk Realty Advisors has purchased the 150-unit Palm Lake apartment complex from AIMCO for $6.7 million. The 153,700-square-foot property, which was built in 1972, is located at 13401 N. 50th St. in Tampa. Amenities include a swimming pool and a business center. Byron Moger and Luis Elorza of Cushman & Wakefield’s Tampa office brokered the sale.
WOODBRIDGE, VA. — Washington, D.C.-based Love Funding has arranged a $5.2 million loan for the 89-unit Potomac Place Apartments. The property is located at 2133 Montgomery Ave. in Woodbridge. Financing was secured through the FHA loan program. The deal comes with a 6 percent fixed-interest rate and a 35-year amortization.
MARYLAND AND VIRGINIA — CSG Partners has purchased a 600,000-square-foot portfolio of seven buildings from Asset Capital Corp. for $65 million. The company purchased a 43,785-square-foot flex building located at 7700 Montpelier Ave. in Laurel, Md., and a 46,858-square-foot building at 4550 Forbes Blvd. in Lanham, Md. A 55,497-square-foot office building, located at 4301 Garden City Dr., was acquired, and the company purchased a 123,249-square-foot building at 7701 Greenbelt Rd. in Greenbelt, Md. CSG made its largest purchase — a 170,000-square-foot office tower — in Baltimore at 20 Charles St. In Hampton, Va., the company acquired the 135,000-square-foot Executive Tower and the 72,000-square-foot Pinewood Plaza, both office buildings that CSG will soon renovate.
ALEXANDRIA, VA. — Arlington, Va.-based Turner Construction has completed two office buildings totaling 128,000 square feet for the Washington, D.C., office of LCOR. The $58 million Class A buildings are located at 1920 and 2050 Ballenger Ave. in Alexandria. The buildings contain 91,000 square feet of office space and 37,000 square feet of retail space. Construction began in June 2007.