RICHMOND, VA. — Alexander Enterprises-1 has sold a 16,813-square-foot retail property to Michael D. Sifen Inc. for $1.2 million. Located at 4300 W. Broad St. in Richmond, the building sits on 2.71 acres and is home to a Budget Rent-A-Car store. The buyer plans on redeveloping some of the space, keeping the tenant on site. Thalhimer’s Bruce Bigger and Millard Jones brokered the sale.
WEST PALM BEACH, FLA. — Azalea Village has secured a $19.5 million loan for the purchase of the 384-unit Archstone Villages apartment complex from an undisclosed seller. The West Palm Beach property includes a fitness room, a pool and recreation areas. Freddie Mac funded the 10-year loan, which carries a 30-year amortization. Charles Foschini of CB Richard Ellis’ Miami office arranged the loan. Robert Given, who works in the firm’s Miami office, represented the seller in the transaction.
ATLANTA — Behringer Harvard has purchased the 253-unit Mariposa Loft Apartments from a private seller for an undisclosed price. Located on 5 acres at 100 Montag Circle in Atlanta, the 5-year-old property is 96 percent occupied. Mariposa also includes a pool and sauna, a fitness center and a business center.
MACON, GA. — Noble Investment Group has completed construction of the 220-room Macon Marriott City Center Hotel, located on Coliseum Drive in Macon. The hotel is connected to the Macon Centreplex, which features 120,000 square feet of meeting and event space. Each room in the hotel is outfitted with a flat-panel television, a desk and an ergonomic chair. Additional amenities include a health club and an indoor pool.
FREDERICKSBURG, VA. — Affiliates of Allen Management have sold a 175-room Econo Lodge in Fredericksburg to R.S.B. of Fredericksburg for an undisclosed amount. The property is located on Interstate 95 near the Fort AP Hill Military Reserve. David Mumford of Mumford Co. represented the seller.
BOCA RATON, FLA. — 399 West Palmetto Park Associates has sold a 12,000-square-foot office building to 399 Palmetto LLC for $2.72 million. The property is located at 399 W. Palmetto Rd. in Boca Raton. Michael Fimiani of Fimiani Development in Boca Raton brokered the sale.
MIAMI — Rigstar II Holding Corp. has acquired a 156,871-square-foot warehouse from First Industrial Realty Trust for $11.92 million in an all-cash purchase. The property, which has never been occupied, is located in Flagler Station at 10910 N.W. 92nd Terrace in Miami. Parvani Commercial Group’s Reshma Parvani represented the buyer. Michael Silver of CB Richard Ellis’ Miami office represented the seller.
MIAMI — Cornerstone Group has completed construction of the 148-unit Valencia Pointe affordable housing apartment complex. Located at 7755 N.W. 27th Ave. in Miami, the property features a swimming pool, a tot lot, a business center and a fitness room. Units are equipped with washer/dryer hookups, energy-efficient appliances and cherry kitchen cabinets.
SMYRNA, TENN. — Swanson Developments of Murfreesboro, Tenn., has purchased a 126,000-square-foot warehouse from a Japanese corporation for an undisclosed amount. The property is located across the street from a Nissan plant at 611 Enon Springs Rd. in Smyrna.
CHARLOTTE, N.C. — Irvine, Calif.-based Quality Custom Distribution Services has leased 60,000 square feet of warehouse space from an undisclosed landlord. The property is located in the Gateway Distribution Center in Charlotte. QCDS was represented by Rob Speir of Charlotte-based Keystone Partners and John Simmons of Medford, Mass.-based Corporate Realty Advisors. Charlotte-based Clarus Properties’ Lawrence Shaw represented the landlord.