CLEARWATER, FLA. — Pure Water Hotel Group has opened the 146-room Best Western Clearwater Grand Hotel and Suites in Clearwater. The hotel is located at 20967 U.S. Highway 19. Features include an outdoor heated pool, fitness and business centers, 6,000 square feet of meeting space and the Bayside Bar and Grill.
STARKE, FLA. — A 1031 exchange investor based in Illinois has purchased a 3,737-square-foot Arby’s location from Wendy’s/Arby’s Group for $1.44 million. The property, located on U.S. Highway 301 in Starke, is NNN leased to Arby’s for 20 years. The property is a former Burger King that was converted in September 2008.
TENNESSEE AND KENTUCKY — Simon Property Group has sold two shopping centers in Tennessee and Kentucky to New York City-based Nassimi Realty for an undisclosed amount. The sale includes the 180,501-square-foot Knoxville Commons in Knoxville, Tenn., and the 119,154-square-foot Park Plaza Shopping Center in Hopkinsville, Ky. Mid-America Real Estate Corp. represented Simon in the transaction. Winbrook Management represented the buyer.
ORLANDO, FLA. — Ace World Wide Moving & Storage Co. has signed a lease renewal for 52,590 square feet with CRP-2 Crossroads. The warehouse space is located at 1125 Gills Dr. Suite 400 and 1075 Gills Dr. Suite 500 in Orlando’s Crossroads Business Park. Robert Blackwell, Sean DuPree and Jim Murr of NAI Realvest represented the tenant. Colliers Arnold’s Matt Sullivan and Wilson McDowell represented the landlord.
VIRGINIA BEACH, VA. — DBAPPLEF has sold a 5,183-square-foot Applebee’s in Virginia Beach to Good Steward Properties-Kempsville for $1.95 million. The property, which is under a long-term lease to the casual dining chain, is located on Kempsville Road. Alexander Divaris and Jason Oliver of Virginia Beach-based Divaris Real Estate represented the buyer.
LAURINBURG, N.C. — Meridian Capital Group has arranged a $4.5 million loan for the 154-unit Plaza Terrace Apartments in Laurinburg. Alliant Capital financed the 10-year loan, which carries a 5.53 percent fixed interest rate. Mike Brown and Noam Kaminetzky of the Meridian’s Boca Raton, Fla., office secured the loan.
MIAMI — Herndon, Va.-based Cambridge Development Group will break ground on a $47 million regional testing laboratory for the Drug Enforcement Agency in February. The Government Services Administration has signed a 20-year lease for the property, which will be located in the Beacon Lakes Business Park in Miami. DEA South Fl., a joint venture between Galaxy Investments and Halle Enterprises, has already purchased 9 acres of land for the development. Gary McGlynn of NorthMarq Capital arranged construction financing for the project through M&T Bank. Construction is expected to take 15 months.
CHARLOTTE, N.C. — Charlotte-based CampusWorks is set to build The Flats at Mallard Creek, a 131-unit, 386-bed off-campus student housing development to serve students at the University of North Carolina at Charlotte. Located at Mallard Creek Church Road and Bonnie Cone Lane, the project is slated for completion in time for the 2010 academic year. CampusWorks has partnered with a Florida-based developer for The Flats at Mallard Creek, marking the third asset CampusWorks has provided construction services for in the UNCC market. Other projects include University Village and University Club.
BALTIMORE — Computer Donation Management has signed a 100,700-square-foot warehouse lease with 500 North Point Associates in Baltimore. The company will move into the property, which is located at 500 N. Point Boulevard, in January. Cushman & Wakefield’s Bob Millhauser and Tim Jackson represented the tenant. Justin Mohler of CB Richard Ellis represented the landlord.
WILLIAMSBURG, VA. — S.L. Nusbaum Realty Co. has opened a 52,600-square-foot Harris Teeter store at the 86,000-square-foot Quarterpath Crossing Shopping Center in Williamsburg. The property is located near the main entrance to the Kingsmill on the James gated community on Route 199. Quarterpath also houses Wachovia Bank and Towne Bank. Subway, No. 1 Chinese Restaurant, Lee Nails, Swan Cleaners and Kyrie Designs are slated to move into the center in the future.