WINCHESTER, VA. — Mumford Co. has completed the sale of the Comfort Inn – North, an 82-room hotel located at 1601 Martinsburg Pike in Winchester. David Mumford of Mumford Co.’s Newport News, Va., office and Steve Kirby of the firm’s Atlanta office represented the seller, an affiliate of Beck Co. The buyer, RDM Hospitality LLC, acquired the property for an undisclosed amount.
Southeast
PUNTA GORDA, FLA. — Fort Myers, Fla.-based J.L. Wallace Inc. has begun construction for a new Tuffy Automotive Center located at the intersection of U.S. Highway 41 and Airport Road in Punta Gorda. The project will consist of a 5,113-square-foot structure; it will include concrete block construction, a pre-engineered metal roof and glass roll-down doors with a hurricane screen. Titsch & Associates is serving as project architect. The construction timetable was not released.
MONTGOMERY, ALA. — Four new tenants have joined the roster at High Point Town Center, a retail project located at the intersection of Bass Pro Boulevard and Cobbs Ford Road in Montgomery. Avon plans to open a retail store within the project, making it the second retail location for the cosmetics company in the state. It will be joined by Royal Nails, Nestle Toll House Café and Teaching Tree. In addition, construction will begin soon for two more tenants, Tokyo Steakhouse and Bama Fever/Tiger Pride. High Point Town Center is an approximately 750,000-square-foot lifestyle center that is being developed by a joint venture between locally based McClinton & Co. and Birmingham, Ala.-based AIG Baker Real Estate. It is anchored by Bass Pro Shops, Belk, JCPenney, Best Buy and Publix.
HALLANDALE BEACH, FLA. — An assortment of retailers and restaurants will take up residence in Cleveland-based Forest City Commercial Development’s The Village at Gulfstream Park when it opens on February 11, 2010. The property is located on U.S. 1 in Hallandale Beach. The shopping center is anchored by a thoroughbred racing track and features more than 410,000 square feet of retail space and more than 80,000 square feet of office space. The 32 tenants include the restaurants Texas de Brazil, American Pie Brick Oven Pizza and III Forks; the retailers Fender Rock & Roll Religion, Vogue Couture and Pottery Barn; and two nightclubs.
KENNER, LA. — Atlanta-based InterContinental Hotels Group has completed a $28 million renovation and branding change of a former Holiday Inn Select in Kenner. The new 292-room Crowne Plaza New Orleans-Airport is located at 2829 Williams Blvd. The owners, 2929 Williams Blvd. LLC, decided to renovate after Hurricane Katrina decimated the property. The hotel includes 12,000 square feet of meeting space, a swimming pool and a fitness center.
LILBURN, GA. — Chicago-based DDR/Prudential Real Estate Investors has sold the 73,910-square-foot Five Forks Crossing shopping center to Atlanta-based SWA Investment for an undisclosed price. The fully occupied property, located at 3050 Five Forks Trickum Rd. S.W. in Lilburn, is anchored by Kroger. Robert Mahoney of CB Richard Ellis’ Chicago office represented the seller.
ODENTON, MD. — Riverscape LP has received a $9.5 million loan for its 280-unit Riverscape Apartments. The Class A property is located at 2600 Midway Branch Dr. in Odenton. Freddie Mac provided financing, and KeyBank Real Estate Capital secured the loan.
HENDERSON, N.C. — Centro Properties Group has sold the 165,929-square-foot Henderson Square shopping center to Warrendale, Penn.-based H.L. Libby Corp. for $8.25 million. The property, located in Henderson, is anchored by Belk and JC Penney, and Wal-Mart Supercenter serves as a shadow anchor. Gamestop, Dollar Tree, Shoe Show, Bath & Body Works and Avenue also are housed in the center. Tony D’Ambrosio and Joe Montgomery of Atlanta-based Colliers Spectrum Cauble represented the seller.
FLORIDA — Altamonte Springs, Fla.-based Forum Architecture & Interior Design has completed design work for four multifamily properties currently under construction in Florida. The buildings span more than 1.6 million square feet and carry an estimated cost of $99 million. The 612-unit Glen at Cagan Crossings, located in Clermont, Fla., is being constructed by Winter Park, Fla.-based Walker & Co. Victoria Park, a 348-unit complex located in Polk County, Fla., is being built by Winter Park Construction. The 280-unit Lakeside Village Apartments, located in Windermere, Fla., is being built by Lake Mary, Fla.-based Altman Contractors. Lakeside Terrace, an 84-unit senior housing center located in Winter Haven, Fla., is being built by Altamonte Springs-based Picerne Construction.
BALTIMORE — Atlanta-based ARCO Design/Build has commenced construction on a 155,000-square-foot office and cold storage distribution center for Merchants Terminal Corp. The property is located in Baltimore adjacent to the city’s port. Delivery is expected this summer. Roswell, Ga.-based Randall-Paulson Architects designed the property.