ASHLAND, VA. —Daniel, Daniel & Daniel LP has sold a 58,684-square-foot flex property in Ashland to Purnell Furniture Services Inc. for $2.25 million. The property is located at 11223 and 11237 Leadbetter Road. Clifford Porter of Porter Realty Co. represented the seller. Grant Massie Land Co.'s Ned Massie represented the buyer.
LAKELAND, FLA. — A private partnership has sold the 32,000-square-foot Northside Plaza to an undisclosed buyer for $1.7 million. Located at 2435 US Highway 98 North, the property is nearly 100 percent occupied. Ron Shultz of Marcus & Millichap's Tampa, Fla., office represented the seller.
ST. PETERSBURG, FLA. — Francesco Carriera and Nicholas Meoli of Marcus & Millichap's Tampa, Fla., office have brokered the $1.37 million sale of The Ambassador apartment complex between two undisclosed parties. The 40-unit property is located at 440 50th Ave. North in St. Petersburg. Built in 1969, The Ambassador encompasses 11 one-bedroom units and 29 two-bedroom units.
HUNTSVILLE, ALA. — McShane Construction Co. has finished work on the 62,500-square-foot Defense Acquisition University at 7115 Old Madison Pike in Huntsville. Triad Properties Corp. developed the two-story, build-to-suit project for the General Services Administration. McShane built the property to Silver LEED standards on 10 acres in the Thornton Research Park. Green features include low-VOC materials, water-efficient landscaping and storm water control systems.
LACOMBE, LA. — Grubb& Ellis Healthcare REIT II has agreed to buy the 34,000-square-foot Lacombe Medical Office Building from a private party for an undisclosed price. The property is located at 64030 Highway 4343 in Lacombe. The building is fully leased to five tenants specializing in cardiac surgery.
ORLANDO, FLA. — Deutsche Bank Berkshire Mortgage has provided a $20 million Freddie Mac loan for the purchase of Venue Apartments in Orlando. The 306-unit complex is located at 3701 Grandewood Blvd. The 10-year loan comes with fixed-rate capital markets execution, one year of interest-only payments and a 30-year amortization.
ATHENS, GA. — Stephen Farnsworth of Walker & Dunlop has secured a loan worth $19.97 million to refinance the 304-unit Fairways at Jennings Mill apartment community. The Athens property, which is 98 percent occupied, features a 17-seat movie theater, a fitness center and a pool. The HUD loan carries a 40-year term and a 40-year amortization. ECI Capital served as the borrower's agent.
CARY, N.C. — Global Knowledge Training LLC has signed an $18 million lease renewal with Intercontinental Real Estate Corp. to stay in the 373,077-square-foot Regency Lakeview office property for an additional 12 years. Regency Lakeview is located on Regency Parkway in Cary. The company has slowly expanded its lease since 1997 and now occupies more than 70,000 square feet. Frank Baird and Bret Muller of Capital Associates represented the tenant. The landlord was represented by Spectrum Properties.
WEST PALM BEACH, FLA. — Miller Construction Co. has broken ground on a 30,000-square-foot office/flex building for Republic Services of Palm Beach. The building, which will be built to LEED standards, is located on a 10-acre site at 7329 7th Place North in West Palm Beach. Miller will install a reflective roof, an efficient HVAC system and efficient light fixtures to fulfill green requirements. The space includes 12,000 square feet for offices, an 18,000-square-foot maintenance shop, locker rooms and training areas. Delivery is slated for June.
WARNER ROBBINS, GA. — Atlanta-based Benning Construction Co. will build a 30,000-square-foot movie theater for the Georgia Theatre Co. in Warner Robbins. The 10-screen Houston Lakes Stadium Cinemas will seat 2,000 people. Benning is expected to complete the project in May.