GAITHERSBURG, MD. — Broad Street Ventures has received a $7.8 million loan to fund its acquisition of a 50,000-square-foot office building from an undisclosed party. The Class A property is located on 4.9 acres of land at 950 Wind River Lane in Gaithersburg. The 5-year loan carries a 25-year amortization. Walker & Dunlop secured the loan. The borrower has also leased the entire building to Gaithersburg-based MedImmune for 10 years.
VIRGINIA BEACH, VA. — Capital Finance has purchased the 5,680-square-foot Lynnhaven Quarters retail complex from Lynnhaven Quarters LLC for $1.09 million. The property is located at 800 S. Lynnhaven Rd. in Virginia Beach. Natalie Hucke and Kevin O’Keefe of Thalhimer’s Virginia Beach office brokered the sale.
DORAVILLE, GA. — The Beltmann Group, a moving services company, has signed a lease renewal with American Realty Advisors for 96,160 square feet of industrial space. The property is located at 7030 Buford Highway in Doraville. With 1 year still left on its lease, the company decided to make a new commitment in order to take advantage of the current market. A tenant improvement allowance was included in the new deal. John Crawford and Ray Dankberg of Grubb & Ellis Co.’s Atlanta office brokered the deal.
LAKE MARY, FLA. — West Palm Beach, Fla.-based Mariner Asset Management Services will break ground on the 72,400-square-foot The Hills of Lake Mary Professional Centre, a LEED Platinum office campus, later this year. In addition to its green status, the property, which is located at 4903 CR 46A in Lake Mary, will be 100 percent carbon neutral. Green features include solar energy generation and storage, an energy efficient HVAC system and power usage monitoring. The architecture firm Gensler designed the property.
CHAPEL HILL, N.C. — Jeff Frankel of NorthMarq Capital’s Chicago office has secured a $13.1 million loan for the 240-unit The Pointe at Chapel Hill apartment complex. The property is located at 100 Saluda Court in Chapel Hill. AmeriSphere Multifamily Finance provided financing for the 5-year interest-only loan.
OCALA, FLA. — Ocala-based Edwards Construction Services will break ground during the first half of 2010 on a 30,000-square-foot sanctuary for College Road Baptist Church. Located at 5010 S.W. College Rd. in Ocala, the sanctuary will accommodate 650 worshippers. The property will feature offices, a choir practice suite, a bookstore and a coffee shop.
NORFOLK AND CHESAPEAKE, VA. — Bethesda, Md.-based First Potomac Realty Trust has secured three leases with two tenants totaling 97,400 square feet. Verizon Virginia has renewed leases at Norfolk Commerce Park II and Norfolk Business Center totaling 58,200 square feet. Norfolk Commerce Park II, located at 5301 Robin Hood Rd. in Norfolk, and Norfolk Business Center, located at 2551 Eltham Ave. in Norfolk, total 218,945 square feet. Corinthian Colleges has also renewed its 26,900-square-foot lease and leased an additional 12,300 square feet of space at Greenbrier Circle Corporate Center. Located at 1081 Sara Dr. in Chesapeake, the center encompasses 229,163 square feet in two buildings.
WASHINGTON, D.C. — The Seattle-based law firm Davis Wright Termaine has leased 49,814 square feet of office space in Washington. The property, located at 1919 Pennsylvania Ave., is owned by SITQ and Tishman Speyer. The firm will occupy the entire eighth floor and a portion of the seventh floor when it moves into the new space in July 2010. The firm is currently located in the building, but this new lease allows the company to consolidate and expand. Brokers from Woodmark, CB Richard Ellis and Century Pacific represented the tenant.
CORAL GABLES, FLA. — Sunset I Ventures has sold Park Place I and II, two adjacent buildings in Coral Gables, to Kenneth D. Rosen of Kendar Realty for $8.5 million. The properties encompass 49,469 square feet of office space. Park Place I, located at 1500 Monza Ave., houses three tenants, including Baptist Health South, which leases 70 percent of the building. Park Place II sits at 1501 Venera Ave. and has nineteen tenants. Both buildings are 100 percent occupied.
NAPLES, FLA. — Fort Myers, Fla.-based J.L. Wallace has started construction on a 12,900-square-foot CVS/pharmacy in Naples. The property is located at 8831 Immokalee Rd. in Naples. J.L.’s services include construction of a drive-thru area, automatic glass doors, a single-ply roofing system over lightweight concrete and site work. Robert Reid Wedding Architects and Planners designed the store, and Coastal Engineering Consultants is providing engineering services.