ATLANTA — Coro Realty Advisors has acquired the 256,712-square-foot Midtown Place shopping center on behalf of JH Holdings from a private buyer for an undisclosed amount. The property, which was built in 1999 by The Sembler Co., is located at the corner of Ponce de Leon and Lakeview avenues in Atlanta. Tenants housed in the center include Borders, Home Depot, Whole Foods, Staples and PetsMart.
Southeast
GLEN BURNIE, MD. — NorthMarq Capital has arranged a $9.7 million loan for the 265,000-square-foot Arundel Plaza in Glen Burnie. The property houses Giant Food and Lowes Home Center. PPM Finance provided financing for the 5-year loan, which carries a 25-year amortization schedule. Gary McGlynn of NorthMarq's Washington, D.C., office and Joseph Burke of the firm's Baltimore office secured the loan.
HAMMOND, LA. — A private owner has borrowed a $6.3 million Fannie Mae loan for the 102-unit Tangi Lake Townhomes in Hammond. The 10-year loan comes with a 6.04 percent interest rate. Scott Waddington of Arbor Commercial Funding's Tampa Bay, Fla., office arranged the loan, which was financed by Eustis Mortgage.
MIAMI — GFII DVI Cardel Doral has sold the 121-room Hampton Inn & Suites Miami-West to Apple Real Estate Investment Trust for an undisclosed amount. The Miami property features a pool, a fitness room, 570 square feet of meeting space and a business center. Mark Fair and Chris Dewey of Jones Lang LaSalle Hotels represented the seller.
CHARLESTON, S.C. — Hunt Construction Group of Tampa, Fla., will break ground Friday on an $8 million Naval Brig expansion at Charleston's Naval Weapons Station. The property is being built for the Department of Defense. Orlando, Fla.-based SchenkelShultz Architecture designed the project.
SUWANEE, GA. — Mitsubishi Electric & Electronics has leased 126,144 square feet from Duke Realty Corp. at the Horizon Business Center in Suwanee. Mitsubishi's HVAC Division will occupy the space, which is located at 2800 Vista Ridge Drive. The property is now fully leased. Jones Lang LaSalle's Alan Clayton represented the tenant. Brian Sutton served as in-house representation for Duke Realty.
JACKSONVILLE, FLA. — Dawn Properties has obtained a $5.4 million loan for its 244-unit Grande Pointe Apartments, which is located at 5800 University Blvd. West in Jacksonville. The 38-year-old property was renovated last year. Mutual of Omaha Bank financed the 2-year, adjustable rate loan. Travis Anderson of Holliday Fenoglio Fowler's Dallas office secured the financing.
OAKLAND PARK, FLA. — Strategic Storage Trust has purchased a 1,600-unit self-storage property from a private seller for an undisclosed price. The 93,700-square-foot facility is located at 4950 N. Dixie Highway in Oakland Park. Five of the development's units offer storefront retail space. This marks Strategic Storage Trust's fifth acquisition in Florida.
RALEIGH, N.C. — Phoenix Telecom Solutions has leased a 186,000-square-foot warehouse from Meridian Development Group in Raleigh. The property, which Meridian purchased in 2007 and was formerly occupied by Flextronics, is located at 4400 Emperor Blvd. Mike Lewis of the Lewis Group represented the tenant. Cassidy Turley's Chris Norvell and Jackson Rives represented the landlord.
CONWAY, ARK. — John Edwards of Arbor Commercial Funding's Boston office has obtained a $5.5 million loan for the 166-unit June Beene Garden apartment complex in Conway. Magna Bank financed the 10-year loan. The finacing carries a 5.77 percent interest rate and a 26-year amortization schedule.