LAURINBURG, N.C. — Meridian Capital Group has arranged a $4.5 million loan for the 154-unit Plaza Terrace Apartments in Laurinburg. Alliant Capital financed the 10-year loan, which carries a 5.53 percent fixed interest rate. Mike Brown and Noam Kaminetzky of the Meridian’s Boca Raton, Fla., office secured the loan.
MIAMI — Herndon, Va.-based Cambridge Development Group will break ground on a $47 million regional testing laboratory for the Drug Enforcement Agency in February. The Government Services Administration has signed a 20-year lease for the property, which will be located in the Beacon Lakes Business Park in Miami. DEA South Fl., a joint venture between Galaxy Investments and Halle Enterprises, has already purchased 9 acres of land for the development. Gary McGlynn of NorthMarq Capital arranged construction financing for the project through M&T Bank. Construction is expected to take 15 months.
CHARLOTTE, N.C. — Charlotte-based CampusWorks is set to build The Flats at Mallard Creek, a 131-unit, 386-bed off-campus student housing development to serve students at the University of North Carolina at Charlotte. Located at Mallard Creek Church Road and Bonnie Cone Lane, the project is slated for completion in time for the 2010 academic year. CampusWorks has partnered with a Florida-based developer for The Flats at Mallard Creek, marking the third asset CampusWorks has provided construction services for in the UNCC market. Other projects include University Village and University Club.
BALTIMORE — Computer Donation Management has signed a 100,700-square-foot warehouse lease with 500 North Point Associates in Baltimore. The company will move into the property, which is located at 500 N. Point Boulevard, in January. Cushman & Wakefield’s Bob Millhauser and Tim Jackson represented the tenant. Justin Mohler of CB Richard Ellis represented the landlord.
WILLIAMSBURG, VA. — S.L. Nusbaum Realty Co. has opened a 52,600-square-foot Harris Teeter store at the 86,000-square-foot Quarterpath Crossing Shopping Center in Williamsburg. The property is located near the main entrance to the Kingsmill on the James gated community on Route 199. Quarterpath also houses Wachovia Bank and Towne Bank. Subway, No. 1 Chinese Restaurant, Lee Nails, Swan Cleaners and Kyrie Designs are slated to move into the center in the future.
FLORENCE, S.C. — Monster.com, the global online career and recruitment resource, has opened a 75,000-square-foot customer service facility in Florence. Developed by Columbia, S.C.-based Red Rock Developments, the facility is located at 2701 Alex Lee Blvd. The company currently employs 150 full-time workers in the building, with room to grow staff over time.
SEARCY, ARK. — Best Western International's Best Western Searcy Inn has opened in Searcy. Located at 501 Willow St., the hotel boasts 71 guest rooms, an indoor swimming pool, a 24-hour fitness center, a business center and a board room. The hotel also offers wireless high-speed Internet access. Best Western Searcy Inn is located near a variety of attractions including the Searcy Art Gallery, Searcy Sports Complex and Harding University.
NAPLES, FLA. — Pelican Bay Developments I has sold an 11,200-square-foot retail building to Saiano for $5 million. The property is located at 5296 Tamiami Trail N. in Naples. The building was constructed in 1998 and sits on 1.29 acres of land. David Stevens of Investment Properties Corp. represented the buyer.
GLEN BURNIE, MD. — Bill Libercci of NorthMarq Capital's Baltimore office has arranged first mortgage financing of $2.8 million for a U-Store facility in Glen Burnie. Financing was provided by Advantus Capital Management. The property contains 863 self-storage units.
STUART, FLA. — Boston-based Cedar Pointe Plaza LLP has sold the 79,000-square-foot Cedar Pointe Plaza to New York-based Cedar Pointe Properties for $7.45 million. The property, located on East Ocean Boulevard in Stuart, was under contract for $12 million a few years ago. Tammy Roncaglione of Gulfstream Business Bank provided financing for the purchase. NAI Southcoast’s Jeremiah Baron and Boyd Bradfield brokered the sale.