EVANS, GA. — Crosland has begun construction on the 100,000-square-foot Riverwood Town Center in a joint venture project between the company and Meybohm Commercial Properties of Augusta, Ga. The center will serve as the retail side of the master-planned Riverwood Plantation golf community. Located at the intersection of Washington Road and William Few Parkway in Evans, the retail space is anchored by a 45,600-square-foot Publix. The grocery store, which will be joined by an 11,745-square-foot CVS/pharmacy, will open this fall. A bank, restaurants and service-oriented retailers are being targeted for the remaining space.
Southeast
MARIETTA, GA. — Lori Schneider of Marcus & Millichap’s Fort Lauderdale, Fla., office represented both parties in the sale of the 81,102-square-foot Marietta Park for $15.3 million. The medical office building was built in 2000 and is located at 780 Canton Rd. in Marietta. HCA, a hospital operator, occupies most of the property. The parties involved in the transaction were not disclosed.
TAMPA, FLA. — Chicago-based Blackhawk Realty Advisors has purchased the 150-unit Palm Lake apartment complex from AIMCO for $6.7 million. The 153,700-square-foot property, which was built in 1972, is located at 13401 N. 50th St. in Tampa. Amenities include a swimming pool and a business center. Byron Moger and Luis Elorza of Cushman & Wakefield’s Tampa office brokered the sale.
WOODBRIDGE, VA. — Washington, D.C.-based Love Funding has arranged a $5.2 million loan for the 89-unit Potomac Place Apartments. The property is located at 2133 Montgomery Ave. in Woodbridge. Financing was secured through the FHA loan program. The deal comes with a 6 percent fixed-interest rate and a 35-year amortization.
MARYLAND AND VIRGINIA — CSG Partners has purchased a 600,000-square-foot portfolio of seven buildings from Asset Capital Corp. for $65 million. The company purchased a 43,785-square-foot flex building located at 7700 Montpelier Ave. in Laurel, Md., and a 46,858-square-foot building at 4550 Forbes Blvd. in Lanham, Md. A 55,497-square-foot office building, located at 4301 Garden City Dr., was acquired, and the company purchased a 123,249-square-foot building at 7701 Greenbelt Rd. in Greenbelt, Md. CSG made its largest purchase — a 170,000-square-foot office tower — in Baltimore at 20 Charles St. In Hampton, Va., the company acquired the 135,000-square-foot Executive Tower and the 72,000-square-foot Pinewood Plaza, both office buildings that CSG will soon renovate.
ALEXANDRIA, VA. — Arlington, Va.-based Turner Construction has completed two office buildings totaling 128,000 square feet for the Washington, D.C., office of LCOR. The $58 million Class A buildings are located at 1920 and 2050 Ballenger Ave. in Alexandria. The buildings contain 91,000 square feet of office space and 37,000 square feet of retail space. Construction began in June 2007.
GREENVILLE, S.C. — ProLogis has signed leases with Total Warehousing Services and Innovative Food Technology for Greenville warehouse space totaling 90,000 square feet. Total Warehousing will occupy 60,000 square feet of space in the Augusta Distribution Center, located at the intersection of White Horse Road and Augusta Road. The warehouse will serve as the company’s regional packaging and distribution center. Innovative Food has signed a 30,000-square-foot lease at the White Horse Industrial Park near the intersection of White Horse Road and Interstate 85. Further details about the leases were not disclosed.
AVE MARIA, FLA. — Orlando, Fla.-based Keene Construction Co. has broken ground on the 39,392-square-foot La Piazza. Located in Ave Maria, the retail center is anchored by a 30,907-square-foot Publix. The property was designed by Memphis, Tenn.-based Looney Ricks Kiss, Architects and is expected to deliver in June.
CLEARWATER, FLA. — Wisco 1 has purchased the 184-unit Long Branch Apartments from Denver-based New South Properties for $6.99 million. The Clearwater property is 30 percent vacant, and Wisco plans on spending $1 million to renovate the complex. NAI Tampa Bay’s John Burpee brokered the purchase, and John Stone of Colliers Arnold’s Clearwater office represented the seller.
FORT LAUDERDALE, FLA. — Jenkintown, Penn.-based Scully Co. has purchased the 302-unit Pembroke Cove Apartments from a private investor based in South Florida for $38.1 million. The property, located on Pines Boulevard in Fort Lauderdale, encompasses 31 two-story apartment buildings. The complex features a fitness room, an indoor racquetball court, two tennis courts, a pool and garages for each unit. Rosendo Caveiro and Brad Capas of Cushman & Wakefield’s Miami and Fort Lauderdale offices, respectively, brokered the transaction.