TALLAHASSEE, FLA. — Roswell, Ga.-based Iron Horse Development Group has completed a 3,116-square-foot Burger King for Goldco in the Southwood community of Tallahassee. The 72-seat restaurant is Goldco’s ninth Burger King in the city. The Southwood Burger King is the first store built as a result of a contract signed by Iron Horse and Goldco in June 2008.
ORLANDO, FLA. — L3 Communications has signed a lease renewal with Sentinel Real Estate Corp. for 80,000 square feet of office space and an additional 5,992 square feet of space. The property is located in the Sand Lake West Business Park at the intersection of Sandlake and Kirkman roads in Orlando. Jim Barton of Orlando-based Mohr Partners represented the tenant; J. Paul Reynolds of CB Richard Ellis’ Orlando office represented the landlord.
ORANGE COUNTY, FLA. —Turner Construction Co. has broken ground on the first 24,398-square-foot Orange County Orlando Magic Recreation Center at South Econ Community Park in Orlando, one of five facilities planned for Orange County. The $5 million properties are being developed by the Orlando Magic and donated to the county. SchenkelShultz Architecture designed the centers, each of which will include a weight room, a game area, a gymnasium and a multi-purpose room.
ATLANTA — Agile Pursuits Franchising has opened 13 Mr. Clean Car Wash and Oil Change stores in the metro Atlanta area, rebranding locations formerly operated under the Carnett’s Car Wash chain. This transformation was put into place when Agile purchased Atlanta-based Carnett’s in February. The stores are located in Austell, Canton, Conyers, Cumming, Gainesville, Grayson, Jonesboro, Lawrenceville, Lilburn, Marietta and Norcross, Ga. Each car wash recycles its water and sends waste water to chemical treatment plants. Three additional Mr. Clean franchise agreements have also been signed in Atlanta.
ATLANTA — The Atlanta-based developer Isakson Living has purchased Colonial Bank’s equity interest in the planned 274-unit Peachtree Hills Place senior housing complex. The property, which is more than 50 percent preleased, will be located on Peachtree Hills Avenue in Atlanta. Completion is expected next year. Isakson paid down its existing loan with Colonial Bank with $8.5 million in additional equity, set aside operating funds for the project and posted a deposit for 2010’s interest reserve. Isakson currently has 42 percent leverage on the property.
ATLANTA — Historic Urban Equities has redeveloped the 11-story Atlanta Flatiron Building, adding new HVAC systems to the property and updating the lobby and common areas. These and other renovations reduced the Flatiron’s carbon footprint by 20 percent. The property, located at 84 Peachtree St. in Atlanta, encompasses 37,000 square feet of office space.
POTOMAC, MD. — Potomac-based Willco Cos. will soon close on its $100 million Willco Fund I, which will target office, multifamily and industrial investments in the Washington, D.C., area. Acquisitions will focus on undercapitalized assets, and during the next 3 years, Willco expects to purchase properties worth $375 million. Investors in the fund are willing to hold assets for an extended length of time.
DURHAM, N.C. — Ram Realty Partners II, a fund sponsored by Palm Beach Gardens, Fla.-based Ram, has acquired the 134,295-square-foot Durham Festival Shopping Center from an undisclosed party for an undisclosed amount. The shopping center is located on Hillsborough Road in Durham. Kroger anchors the property, which is also occupied by Millennium Sports Club, Dollar General and SunTrust Bank. Ram Realty Partners II currently holds $175 million in assets.
MT. PLEASANT, S.C. — Greenville, S.C.-based Fox Capital Partners is developing Rivertowne Place, a grocery-anchored shopping center, to LEED specifications. The property is located on Highway 41 in Mt. Pleasant. Rivertowne will spotlight a new Harris Teeter prototype in addition to providing space for restaurants and retail tenants.
ASHBURN, VA. — Glasstech has signed a lease with Merritt Properties for 20,747 square feet of warehouse and office space in Ashburn. The property is located at 44601 Guilford Drive. Steve Shaw and Keith Wallace served as in-house representation for Merritt Properties.
