CARENCRO, LA. — Net Lease Developers has broken ground on a 14,820-square-foot Walgreens in Carencro. Located at the intersection of West Gloria Switch Road and North University Boulevard, the property features a drive-thru. Completion is expected next January.
Southeast
RICHMOND, VA. — UPS Ground Freight has signed a 6-year lease with Chippenham Square LLC for 85,018 square feet of warehouse space. The property is located in Chippenham Square at 7747 Midlothian Turnpike in Richmond. Robert E. Porter, Jr., of Richmond-based Porter Realty Co. represented the tenant, and Yasmine Hamad and Brian Glass of Richmond-based Grubb & Ellis|Harrison & Bates represented the landlord.
TAMPA, FLA. — Joe Dear of Thomas D. Wood & Co. has obtained $1.1 million in financing for a 37,674-square-foot warehouse in Tampa. The property, which is occupied by PPG Architectural Finishes, is located at 3015 N. U.S. Highway 301. StanCorp Mortgage Investors financed the 7-year loan, which carries a 21-year amortization and a loan-to-value of 65 percent.
COLUMBUS AND BAINBRIDGE, GA. — The Board of Regents of the University System of Georgia is overseeing the development of two wellness projects totaling more than $50 million. The campus of Columbus State University in Columbus is the location for a 96,000-square-foot student wellness center. The $29 million development encompasses a gym, a fitness center, a swimming pool, a banquet hall and a climbing wall. An 80,000-square-foot facility will be built on the campus of Bainbridge College in Bainbridge. The $25 million project will include a 2,500-seat gym, a food court, administrative space, classrooms and a book store. Jones Lang LaSalle will manage the projects, which should be complete by October 2010.
VIRGINIA BEACH, VA. — An affiliate of Norfolk, Va.-based Harbor Group International has purchased the 288-unit Woodshire Apartments from an affiliate of Denver-based AIMCO for $22.1 million. Located on South Budding Avenue in Virginia Beach, the property includes a swimming pool, a clubhouse and a fitness center. Woodshire is currently 95 percent occupied. Cushman & Wakefield of Virginia’s Drew White brokered the deal.
BRADENTON, FLA. — CORE Construction of Florida has completed the 109-unit Lake House at Waters Edge assisted living facility in Bradenton. Developed by Florida Christian Homes Senior Housing Inc. West Bradenton, the $14 million property includes a more than 200-seat restaurant. Lake House encompasses one and two-bedroom units ranging from 600 square feet to 1,100 square feet.
VIRGINIA BEACH, VA. — Global Supply Solutions has leased 40,000 square feet of office and warehouse space at 1569 Diamond Springs Rd. in Virginia Beach. The firm is expanding from a previous 12,400-square-foot lease. John Lee of Virginia Beach, Va.-based John Lee & Associates represented the landlord, and Chip Worley of Norfolk, Va.-based Harvey Lindsay Commercial represented the tenant.
VIRGINIA BEACH, VA. — Arlington, Va.-based Bonaventure Realty Group has started construction on The Cascades, a mixed-use development encompassing 226 apartments and 22,000 square feet of retail space. The property will be located at the intersection of Centerville Turnpike and Lynnhaven Parkway in Virginia Beach. Amenities include a clubhouse, a swimming pool, a 24-hour fitness center and a running trail. Completion is expected this December.
PARRIS ISLAND, S.C. — The Department of the Navy ¬– Naval Facilities Engineering Command Southeast has enlisted St. Louis-based Walton Construction Co. to add a fourth military barracks to its $78.4 million Marine Corps. Recruiting Depot project. The Parris Island development now includes four, three-story barracks facilities, a headquarters training complex, a physical training circuit and a central mechanical plant. The original project will be complete by October 2010, with the new addition delivering in April 2011.
NASHVILLE, TENN. — Developers Diversified Realty Corp. has sold the 167,795-square-foot Marketplace shopping center to Chicago-based Monroe Acquisition Partners for an undisclosed amount. Located at the intersection of Charlotte Pike and River Road in Nashville, the property is anchored by Lowe’s Home Improvement Warehouse and shadow-anchored by Wal-Mart Supercenter. Robert Mahoney and Christian Williams of CB Richard Ellis’ Oak Brook, Ill., office represented the seller.