BRADENTON, FLA. — CB Richard Ellis has brokered the sale of the 226-unit Manatee Woods multifamily complex between two undisclosed parties for an undisclosed amount. Located in Bradenton, the 16-year-old property is 92 percent occupied. Shelton Granade, Luke Wickham, Jim Bobbitt and John Selby of CB Richard Ellis represented the seller.
Southeast
TEMPLE HILLS, MD. — NorthMarq Capital has secured a $6.4 construction loan for a 1,000-unit Beech Road Self Storage store to be built in Temple Hills. A national bank financed the loan. Gary McGlynn and Jason Smith of NorthMarq Capital’s Washington, D.C., office arranged the loan.
ROCK HILL, S.C. — Alliance Plastics of Fort Mill, N.C., has leased 106,880 square feet of industrial space from Cleveland-based Weston Inc. Located in the 590,000-square-foot Weston Commerce Center at 2700 Commerce Dr. in Rock Hill, the property will house the firm’s production and warehousing operations. Legacy Real Estate Advisors represented the tenant. Piedmont Properties|CORFAC International’s A. Scott Hensley and Lester Osborn represented the landlord.
CUTLER BAY, FLA. — East Ridge Retirement Village Inc. is redeveloping 125,000 square feet of the 78-acre East Ridge Retirement Village. The property is located at 19301 SW 87th Ave. in Cutler Bay. The old space will be demolished and replaced by 334,000 square feet of high-tech independent and assisted-living facilities. The project is being designed to LEED standards.
MURFREESBORO, TENN. — On behalf of the retailer Vitamin Shoppe, Nashville, Tenn.-based Baker Storey McDonald Properties has purchased the note for an 8,800-square-foot retail property from a local bank. Located near the intersection of North Thompson Lane and Medical Center Parkway in Murfreesboro, the property was in danger of foreclosure. Baker Storey plans to invest a total of $2.5 million into the space, an amount that includes the purchase price and renovation costs. The tenant will open its doors in early 2011.
RICHMOND, VA. — The 46-unit Pine Court Apartments, located on the edge of the Virginia Commonwealth University campus in Richmond, has received a $3.57 million loan. The 10-year loan carries a 30-year amortization and a 5.79 percent interest rate. Walker & Dunlop secured the financing.
NORCROSS, GA. — The construction firm CHOATE has completed a 30,000-square-foot office building for Atlanta-based Corus360 at 130 Technology Parkway in Norcross. Designed by Baker Barrios and veenendaalcave, the property has been built to achieve LEED Gold certification. Green features include sensor lighting, water-efficient fixtures and a white roof built to absorb sunrays. The property will house Corus360’s operations and a LEED data center.
CANTON, GA. — Dominium Development and Acquisition has purchased the 212-uint Canterbury Ridge Apartments from a private party for an undisclosed price. Originally constructed in 1999, the affordable housing complex is located at 101 Canterbury Ridge Parkway in Canton.
WASHINGTON, D.C. — Benning Garden LP has sold the 45-unit Benning Gardens Apartments to an undisclosed party for $2.3 million. The property is located at 4951 G. St. SE in Washington. Ari Firoozabadi of Marcus & Millichap represented the seller in the transaction.
TAMPA, FLA. — Franklin Property & Development Group has purchased a 57,886-square-foot office from Verizon in a $2.6 million sale-leaseback. Located at 10402 N. 56th St. in Tampa, the property will be occupied by Verizon for the next 15 months. Mike Davis, Rick Brugge, Andy May, Barry Oaks and Bill Reeves of Cushman & Wakefield represented Verizon in the transaction. The firm’s Rian Smith represented Franklin Property.