MOBILE, ALA. — Construction has commenced on a 54,340-square-foot Publix at the Shoppes of Fairhope Village in Mobile. The store will join 30,400 square feet of small shop space and three outparcels. Delivery of the shopping center, located at the intersection of U.S. Hwy. 98 and Parker Road, is slated for spring 2009.
Southeast
PORTSMOUTH, VA. — City Line Plaza LLC has purchased the 25,000-square-foot City Line Plaza Shopping Center in Portsmouth from Elliot Cohen Partners for $3.85 million. The 3-acre center includes a restaurant outparcel. Norfolk, Va.-based S.L. Nusbaum Realty Co.’s Doug Aronson represented the buyer, and Rennie Richardson of Norfolk-based Richardson Real Estate represented the seller.
KISSIMMEE, FLA. — Orlando, Fla.-based Roger B. Kennedy Inc. has broken ground on the $27.5 million Westgate Town Center Building 4000. The eight-story Kissimmee vacation rental property is being constructed for Westgate Resorts and was designed by Jacksonville, Fla.-based Bergman Associates-Architects. The building will deliver in December.
RADFORD, VA. — MVF-RAJ has sold the 72-unit Comfort Inn & Suites of Radford, located at 2331 Tyler Rd., to MPWG for $5.25 million. The buyer plans to renovate the property, which was built in 2002. Ed James, David Mumford and Matt Winston of Newport News, Va.-based The Mumford Company represented the seller.
HANAHAN, S.C. — Jones Apparel Group USA has subleased 150,148 square feet to Eagan, McAllister Associates, a subsidiary of Science Applications International Corp. The warehouse, located at 7410 Magi Dr. in Hanahan, is also leased to Stanley, which occupies 150,000 square feet. Eagan, McAllister Associates will use the building for outfitting mine-resistant vehicles. David Barber of Binswanger’s Atlanta office represented Jones Apparel, and Colliers Keenan represented Eagan.
ATLANTA — Residents have started moving into the 355-unit Gables Century Center, an environmentally friendly apartment complex developed by Gables Residential. Located at 1740 Century Circle N.E. in Atlanta, amenities include a saltwater pool, a fitness center, a business center with wireless Internet and trellised grill areas. Green features include energy-efficient lighting and appliances, water barrels that collect rainwater for irrigation use and low volatile organic compound paint. The property should be fully complete by the end of this year.
MARYVILLE, TENN. — St. Louis-based Foothills Plaza LLC has sold the 102,596-square-foot Foothills Plaza to Heritage Park Mall LLC and DDDD for $3.9 million. The property, located at 501 Foothills Plaza in Maryville, is 92 percent leased. Jason Little and Daniel Morris of Oklahoma City-based Sperry Van Ness|Gregory Interests represented the seller.
CORAL GABLES, FLA. — Publix has acquired 1.82 acres of land in Coral Gables for a 50,000-square-foot store. Located at the intersection of Flagler Street, Douglas Road and Ponce de Leon Boulevard, the store will feature a two-story rooftop garage. The project is being developed by Global Fund Investments, which also secured the land. Groundbreaking is scheduled for late 2009.
ORLANDO, FLA. — Orlando-based Rhodes+Brito Architects, in a partnership with the sports architecture division of HNTB Architecture, has started the design phase for a $160 million renovation of the Florida Citrus Bowl in Orlando. The project will include renovations to the lower bowl, new restrooms and locker rooms and a 40,000-square-foot banquet room. When finished, the stadium will have 75,000 seats. Construction, which will be completed in phases, will begin in 2010.
NEW ORLEANS — Capmark Finance has secured a $65 million loan for AVR-Saulet’s purchase of the 703-unit Saulet, an apartment complex spanning 13 acres at 1420 Annunciation St. in New Orleans. The 10-year, fixed-rate loan was provided through Capmark’s Fannie Mae DUS program. The Saulet is a Class A complex that features a three-story leasing center, four retail bays and a pool.