FLORIDA — Love Funding has secured $24.7 million in loans for two senior housing facilities in Tallahassee and Tarpon Springs, Fla. A $17 million loan was arranged for the 120-unit Heritage Oaks complex in Tallahassee at a 4.63 percent interest rate. The 92-unit Allegro at East Lake received a $7.7 million loan with a 5.19 percent interest rate. Both 7-year loans come with a 30-year amortization and were funded by Freddie Mac. Robyn Cunningham of Love’s St. Louis office secured the loans.
MIAMI LAKES, FLA. — Fort Lauderdale, Fla.-based Miller Construction Co. has finished the 66,000-square-foot LeRoy Collins Office Building. Located at 7900 Oak Lane in Miami Lakes, the $8 million property was built for The Graham Cos. The four-story Class A building was designed by Theodore Roux of Coral Gables, Fla.
ABERDEEN, MD. — Opus East recently delivered a 60,000-square-foot building as part of The GATE project at Aberdeen Proving Ground, which will encompass 2 to 3 million square feet of office and technology space. The U.S. Army is helping develop the park. CACI has signed a 7-year lease for the building and will use it for research and development purposes. The property features office and conference facilities, high-bay integration areas and electronic labs. Site work and construction on the building began in May 2008.
SUNRISE, FLA. — An undisclosed company based in Aventura, Fla., has purchased an 11,871-square-foot office building from a seller based in New York City for $2 million. The buyer plans to house its healthcare business in the vacant property, which is located at 10251 W. Oakland Park Blvd. in Sunrise. Richard Matricaria and Daniel Cioci of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller. Daniel Chalem of Aventura-based Commercial Florida Realty brokered the buyer’s purchase.
FLORIDA — South Florida Federal Partners has completed the first building in a $69 million five-property project for U.S. Citizenship and Immigration Services. The completed building, located in Hialeah, Fla., will be joined by facilities in Miami, Kendall, Oakland Park and Royal Palm Beach, Fla., each of which will total 38,000 to 60,000 square feet. Each property is being constructed to silver LEED standards. Environmentally friendly features include windows with hanging sunscreen devices, highly reflective roof coating and limited-flow bathroom fixtures. Fort Lauderdale, Fla.-based Moss & Associates is serving as general contractor. The entire project will deliver early next year.
FITZGERALD, GA. — Albany, Ga.-based Interstate Warehouse Services has sold its 210,000-square-foot distribution facility to Appleton, Wis.-based FPC Southern Properties for an undisclosed amount. Located at 176 Rip Wiley Rd. in Fitzgerald, the 17.34-acre property originally housed a Miller Beer canning operation. FPC will use the warehouse as a paper distribution facility expected to generate 50 jobs in the next few years. Arthur P. Barry, III, of Macon, Ga.-based Coldwell Banker Commercial Eberhardt & Barry brokered the transaction.
NORCROSS, GA. — Beverly Hills, Calif.-based Starpoint Commercial Properties has finished the redevelopment of the 88,967-square-foot Village at Peachtree Corners. The retail center, located at the intersection of Peachtree Parkway and Peachtree Corners Circle in Norcross, was formerly known as Interlochen Village. Wakefield Beasley & Associates designed the renovation, which includes a new roof and new lighting. Tenants include Flying Biscuit, OfficeMax and The Baby’s Room.
CHATTANOOGA, TENN. — The Maclellan Foundation has purchased the 40,000-square-foot Market Center office building from Chattanooga Land Co. for $7.16 million. Maclellan is a major tenant in the 4-story building. The Class A property, located in Chattanooga, was constructed in 2001. Burchay’s Building, which spans 2,500 square feet, and a 120-space parking lot were also included in the purchase. David F. DeVaney of Chattanooga-based NAI Charter brokered the transaction.
NEWNAN, GA. — Sean Leahy of Phoenix-based Tradition Realty Advisors represented an undisclosed party in the purchase of a 14,820-square-foot Walgreens from an undisclosed seller for $5 million. The 2-year-old property, located at 1 Farmer Industrial Blvd. in Newnan, is NNN-leased to Walgreens for 25 years. Marcus & Millichap represented the seller.
BALTIMORE — White Marsh, Md.-based CSG Partners has purchased a 170,000-square-foot office building at 20 Charles St. in Baltimore from SLM Properties for $9.2 million. The 12-story tower, which was built in 1966, is 78 percent leased to The Y of Central Maryland and the law firms Blades & Rosenfeld and Schlachman, Belsky & Weiner. The property includes an underground parking garage and was designed by Emery Roth & Sons. CSG plans to add food venders to the ground floor, renovate the bathrooms and elevator lobbies and upgrade the HVAC system starting early next year. Robert Cashman and Jonathan Beard of CB Richard Ellis’ Baltimore office brokered the sale.