MECHANICSVILLE, VA. — The Shoppes at Bell Creek LLC of Richmond, Va., has sold the 65,781-square-foot The Shoppes at Bell Creek to New York-based Envoy Realty Partners for $9.5 million. The property, which is anchored by a 37,961-square-foot Food Lion, is located at 8319 Bell Creek Rd. in Mechanicsville. The center is 95 percent leased. Midlothian, Va.-based Mike Lowry Co. represented the seller, and the buyers secured in-house representation.
MIAMI — Hollywood, Fla.-based John Moriarty & Associates will complete vertical construction on the 600,000-square-foot Brickell Financial Centre on Friday. The 40-story project, which consists of office and retail space, is being developed by Miami-based Foram Development and has been constructed to Silver LEED certification. The building is located at 600 Brickell Ave. in Miami.
CORAL SPRINGS, FLA. — Orlando, Fla.-based Keene Construction Co. has finished construction on the 64,000-square-foot Turtle Crossing shopping center. St. Petersburg’s LNR Properties developed the project, which is located at 4348 N. State Rd. 7 in Coral Springs, and VanderPloeg & Associates of Boca Raton, Fla., provided design work. Keene’s services included demolition, 38 acres of site work and new construction.
ATLANTA — Dallas-based Lincoln Property Co. has secured two lease renewals totaling more than 115,000 square feet in the company’s 288,000-square-foot Airport-West Distribution Center. The two-building property is located on Buffington Road in Atlanta. PSI Group leased 66,524 square feet, and Chick-fil-A signed a 51,724-square-foot lease. With the two lease renewals, the property is now 93 percent occupied. Chip Craighill of Cushman & Wakefield’s Atlanta office represented PSI.
PEMBROKE PINES, FLA. — Israel-based Gamla-Cedron Group has purchased the 26 remaining units at the 250-unit La Via Condominium complex from an undisclosed seller for $1.43 million. The property is a distressed asset that has been sold, piece by piece, since 2005. The apartment complex, which is located in Pembroke Pines, was converted to condominium units to facilitate its sale. Avery Klann of Apartment Realty Advisors’ Boca Raton, Fla., office arranged the deal.
GREENVILLE, S.C. — Malvern, Pa.-based Liberty Property Trust has sold a 300,000-square-foot portfolio of six Class A office buildings to an undisclosed buyer for $35 million. The space is located in the Independence Corporate Park in Greenville. Ryan Clutter of CB Richard Ellis’ Charlotte, N.C., office represented the seller.
BIRMINGHAM, ALA., AND VALDOSTA, GA. — Oak Brook, Ill.-based Inland Real Estate Acquisitions has purchased two 657,000-square-foot distribution centers from The Home Depot for $59 million in a sale/leaseback agreement. The Home Depot will lease the buildings for 18 years. The Rapid Deployment Centers, located in Birmingham and Valdosta, each feature 32-foot ceilings and 239 dock doors.
ATLANTA — As a byproduct of the recession, The Home Depot will close 34 EXPO Design Center stores in Florida, Georgia, Maryland, Virginia and other nationwide locations during the next 2 months. In addition, the company will shutter five YardBIRDS stores, two Design Center stores and seven HD Bath locations. The closures will affect 5,000 workers. This decision does not apply to traditional “orange box” stores.
BIRMINGHAM, ALA. — Brokers at CB Richard Ellis Capital Markets have secured a $16.87 million loan for the acquisition of the 400-unit The Meadows at Brook Highland Apartments in Birmingham. Financing for the 7-year loan, which carries a 3.2 percent interest-only floating rate and a 30-year amortization, was provided by Freddie Mac. The borrower is planning $1.2 million in exterior upgrades and interior renovations totaling $6,000 per unit. The 22-year-old apartment is 96.3 percent occupied. Keith Braddish and Jason Gaccione of CB Richard Ellis’ New York City office and Robert LaChapelle, Richard Jordan and Matt Forgione of the firm’s Atlanta office closed the deal.
NEWNAN, GA. — Atlanta-based RCG Ventures has purchased the 146,121-square-foot Shenandoah Plaza from Centro Properties for an undisclosed amount. The center is located on Bullsboro Drive in Newnan. The property is anchored by Big Lots, Goodwill, Dollar General and HOV Services. Van Barron of BridgePoint Advisors represented the seller, and Jim O’Donnell represented RCG in house.