CLINTON, S.C. — Griffin Capital has borrowed a $13 million loan for its 560,000-square-foot warehouse, located at 1702 Springdale Dr. in Clinton. Renfro Corp., a sock manufacturer, occupies the building. The 67 percent loan-to-value loan carries a 3-year term and was funded by a regional bank. Adam Levinson of Cohen Financial’s Skokie, Ill., office secured the loan.
Southeast
ATLANTA — FFC Atlanta has sold the 232-unit Clarion Hotel Atlanta Airport to a California-based buyer for an undisclosed price. The Atlanta property includes indoor and outdoor pools, a restaurant and more than 7,000 square feet of meeting space. Jones Lang LaSalle Hotels represented the seller.
OCALA, FLA. — Edwards Construction Services of Ocala has started three projects in The Villages of Lake Sumter, an Ocala retirement community. The company is demolishing and undertaking interior reconstruction of the 52,500-square-foot La Reina building. Edwards is also constructing the 9,129-square-foot Creek Side Mill building and the 8,791-square-foot Morgan Stanley Shell building.
KENNESAW, GA. — Hobby Lobby has signed a 45,000-square-foot lease with Developers Diversified Realty for a former Goody’s store. The space is located in Kennesaw’s Barrett Pavilion shopping center. Steve Gunning and Mike Leonard of Dallas-based SRS Real Estate Partners represented the tenant.
NEW ORLEANS — In what is being called the first major healthcare project in New Orleans since Hurricane Katrina, Birmingham, Ala.-based Brice Building Co. has broken ground on the $100 million Louisiana Cancer Research Center. The 250,000-square-foot property is located between the health sciences centers at Louisiana State University and Tulane University. More than 300 workers will be employed at the completed center. RMJM Hillier Architecture designed the project, which is slated to deliver in August 2011.
MCLEAN, VA. — Hilton Hotels Corp. has signed a lease with B.F. Saul Real Estate Investment Trust for space in its 323,000-square-foot Park Place II office tower. The property is located at 7930 Jones Branch Dr. in McLean. The 10-year lease secures a third of the LEED Gold-certified building for Hilton’s new global headquarters. Hilton will relocate its operations from Beverly Hills, Calif., during the third quarter.
CHARLESTON, S.C. — Choate Construction has broken ground on the 28,000-square-foot SCRA MUSC Innovation Center – Charleston, a renovation and expansion of an existing historic property in Charleston’s industrial area. The center, which is located 2 miles from the Medical University of South Carolina campus, will feature biomedical research and lab space, administrative offices and a police substation. Choate will replace the roof, outfit the interior with new fixtures and fire-suppression systems and restore the façade to its original brick. The development is part of a larger plan to create a biomedical research hub in the city. Completion is expected this winter.
MACON, GA. — The Atlanta-based hotel management firm Hotel Equities has added the 83-room Candlewood Suites in Macon to its portfolio. The property, located at 3957 Riverplace Dr., is owned by Ashok J. Patel and Shree Ji Swamibapa Ji LLC. The extended-stay hotel features an exercise room and an outdoor pool.
MT. JULIET, TENN. — Memphis, Tenn.-based Boyle Investment Co.’s Phil Fawcett has secured a construction loan for the first phase of the company’s 200,000-square-foot Providence Commons shopping center. U.S. Bank, represented internally by Scott Miler, financed the loan. The property, located on Mt. Juliet Rd. in Mt. Juliet, will feature a 54,000-square-foot Publix, three to four additional anchor and junior-anchor stores and 35,000 square feet of small-shop space. Franklin, Tenn.-based Civil Constructors and Nashville, Tenn.-based JE Crain are working toward a fall completion date.
WASHINGTON, D.C. — The Association of American Railroads has signed a 33,619-square-foot lease with Bethesda, Md.-based Clark Enterprises for space in its Capitol View office building. The Class A property is located at 425 3rd St. in Washington. The association will move into the building in September, occupying 15 percent of the property. Scott Frankel, Art Santry and Doug Mueller of CB Richard Ellis’ Washington office represented the landlord. Bruce McNair and Josh Hartman of Grubb & Ellis’ Washington office represented the tenant.