POINCIANA, FLA. — Completing the first phase of its Poinciana CommerCenter, Small Bay Partners has opened 63,000 square feet of industrial space in three buildings. Located at the intersection of U.S. 17-92 and Poinciana Boulevard in Poinciana, one building will serve as a showroom while the other two will be used as office and warehouse space. The property features three-phase electrical power, outside storage, high ceilings and wide overhead doors.
Southeast
JACKSONVILLE, FLA. — Marcus & Millichap has brokered an Aventura, Fla.-based company’s sale of the 151-unit Arlington Village apartment complex to a Jacksonville-based developer for $4 million. The buyer took out a Fannie Mae loan to finance the purchase. Arlington Village, located at 840 & 1000 Bert Rd. in Jacksonville, consists of 17 two-story buildings and is 60 percent occupied. Tal Frydman and Daniel Draizin of Marcus & Millichap’s Fort Lauderdale office brokered the sale.
MIAMI — Key International Development has completed the $121 million Ivy, a mixed-use tower in downtown Miami. The 45-story building houses 504 condominiums, and restaurant and retail businesses span the ground floor. The property, which was constructed by Fort Lauderdale, Fla.-based Moss & Associates, features a resort-style pool, a fitness facility and a sauna. Key is also developing an adjacent office tower, the 1.3 million-square-foot Mint. Moss is providing construction work on the second tower and expects a delivery date of mid-2009.
ATLANTA — The Federal Aviation Administration has leased a 98,000-square-foot office building in the Camp Creek Business Center. The facility, located at 1500 Centre Parkway in Atlanta, will house 400 workers when the FAA occupies the space early next year. Further details of the lease were not released. The FAA joins the Department of Homeland Security and the Federal Bureau of Prisons in the center. Duke Realty’s Corey Richardson represented the landlord in the transaction.
AUGUSTA, GA. — Atlanta-based R.J. Griffin Co. has broken ground on a 57,000-square-foot outpatient cancer clinic across the street from the Medical College of Georgia Cancer Research Center in Augusta. The new building will feature 30 exam rooms, 30 chemotherapy infusion stations, six private treatment rooms and a café. The $29 million project, which was designed by the Orlando office of Heery Design, will also include a 158-car parking deck. Delivery is slated for early 2010.
RICHMOND, VA. — AH Richmond Tower 1 has purchased 0.38 acres of land from James Center Development Co. c/o CSX for $3 million. Plans for the space, located at the intersection of 10th and Canal streets in Richmond, include the Williams Mullen Center, a high-rise office building. Jeffrey Cooke and Suzanne White of Thalhimer brokered the sale.
MECHANICSVILLE, VA. — Morgata has purchased a 12,000-square-foot medical office building from Meadowbridge for $1.6 million. The property, located at 8201 Atlee Rd. in Mechanicsville, houses a physical therapy clinic that the buyer plans on expanding. Thalhimer’s Birck Turnbull brokered the sale.
GAINESVILLE, VA. — A 140,000-square-foot Wegmans supermarket has opened at the Shops at Stonewall, located on Lee Highway and Old Carolina Road in Gainesville. The store features a seafood bar, a cheese shop and a bakery and will employ 600 workers. Co-anchors Staples, Bed Bath & Beyond, Ross Dress For Less and Michaels have already opened in the 317,572-square-foot shopping center. Future tenants include Wink Optometry, The Athlete’s Foot, SunTrust Bank and Bubbles.
RALEIGH, N.C. — Buffalo, N.Y.-based The Rose Hill Group of WNY has secured a $15.9 million construction loan for the 73,000-square-foot Lafayette Village. Located on Falls of Neuse Road in Raleigh, the property is 80 percent preleased to office and retail tenants. Financing for the loan was provided through a national bank.
SIMPSONVILLE, S.C. — Philadelphia-based Exeter Property Group has purchased a 121,871-square-foot warehouse from E & G Investments for $4 million. Located at 1410 Old Stage Rd. in Simpsonville, the 13-year-old building is fully leased by Pratt Industries. David Hume and Britton Burdette of Marcus & Millichap’s Atlanta office brokered the transaction.