SIMPSONVILLE, S.C. — Trinity Commerce Center has leased 120,000 square feet in its newly completed industrial facility, located on Old Stage Road in Simpsonville, to Innegrity for an undisclosed amount. John Scott, Brian Young and Trey Pennington of Grubb & Ellis|The Fuman Co.’s industrial group represented the landlord.
Southeast
VIRGINIA BEACH, VA. — The city of Virginia Beach has purchased a 1.25-acre tract of land at Shore Drive and Greenwell Road in Virginia Beach from Miller Partnership for $1.35 million. The city plans to construct a fire station on the site. Robert Thornton of Thalhimer’s Virginia Beach office represented the buyer.
CHESAPEAKE, VA. — Alpha X has purchased a 4,057-square-foot medical office condo, located at 516 Innovation Dr. in the Oakbrooke Professional Center in Chesapeake, from Oakbrooke Professional Center LLC for $638,977. GYN Specialists will open at the location. Maureen Rooks of Thalhimer’s Virginia Beach, Va., office represented both parties.
LITHIA SPRINGS, GA. — First Industrial Realty Trust has sold the 585,000-square-foot Building 200 distribution center at First Park Terminus West, located in Lithia Springs, to Chicago-based CenterPoint Properties Trust for more than $20 million. Marty Arnold, Dennis Mitchell, Colin Cavill and Bob Cottle of Colliers Spectrum Cauble represented the seller. The property is occupied by Exel Logistics.
NAPLES, FLA. — A bevy of new tenants will join existing luxury retailers in the 370,000-square-foot Waterside Shops in Naples, a Southfield, Mich.-based Forbes Co. development that opened in 1992. The shopping center is anchored by Saks Fifth Avenue, which will undergo a 20,000-square-foot expansion later this month. In November, Nordstrom will open a 77,000-square-foot store, complete with an e-Bar and a Bistro café, and De Beers will move into a 744-square-foot showroom. Also opening next month is a 1,500-square-foot kate spade boutique, a 2,546-square-foot Juicy Couture and a St. John store. In January, Waterside will welcome a 1,300-square-foot Van Cleef & Arpels, and Basler is set to open a 1,100-square-foot shop. Salvatore Ferragamo rounds out the new openings, with an early 2009 date set for its 1,940-square-foot store. Bloomfield Hills, Mich.-based Taubman Centers and ING Clarion are partners in the shopping center project.
ATLANTA — RREEF Real Estate, on behalf of an institutional client, has acquired the 186,058-square-foot Perimeter Square, located on Perimeter West Boulevard in Atlanta, from ING Clarion for an undisclosed amount. The shopping center is fully-leased to Bed Bath & Beyond, T.J. Maxx, Haverty’s, Total Wine, PetSmart and others. DTZ Rockwood’s Hayes Swann and Matt Tritschler represented RREEF in the transaction.
ALPHARETTA, GA. — Korea-based Hanjin Shipping Co. has purchased a 60,000-square-foot Class A office building and 10 acres of land, located at 4300 North Point Pkwy. in Alpharetta, from Image Properties for an undisclosed amount. The company plans to move into 40,000 square feet of the building in first quarter 2009. The remaining space is being leased as part of the sale. Paul Zeman of Bull Realty represented the seller, and Bob Misdom and Kathy Burke of CresaPartners represented the buyer.
HICKORY AND ROCKY MOUNT, N.C. — Piedmont Center Associates, under a license agreement with Atlanta-based InterContinental Hotels Group, has re-opened a Holiday Inn Select as a Crowne Plaza, after a $2.5 million renovation. The 200-room hotel, located at 1385 Lenoir Rhyne Blvd. in Hickory, features a restaurant and lounge, an indoor pool and fitness and business centers. The renovations included adding a bar to the lobby and outfitting guest bathrooms with wider showerheads and roomier showers. As part of the renovation, many of the hotel’s furnishings were purchased from local manufacturers, and a modern art sculpture will be commissioned for the lobby. In Rocky Mount, The Generation Cos., under a lease agreement with InterContinental, has opened an 83-room, environmentally-friendly Candlewood Suites, located 688 English Rd. Green amenities include low-flow shower heads and toilets, compact fluorescent lighting and sodium vapor fixtures. The hotel also includes free high-speed Internet and a 24-hour fitness center. The opening marked the opening of the brand’s 200th hotel.
JACKSONVILLE, FLA., AND NASHVILLE, TENN. — A joint venture between CB Richard Ellis Realty Trust and Duke Realty Corporation has purchased two buildings in the Southeast from an undisclosed seller as part of a four-property portfolio worth $139.1 million. The deal included a 772,210-square-foot warehouse, located in the Westlake Industrial Park at the intersection of Hannah Road and Old Plank Road in Jacksonville. The Class A property is fully-leased to Unilever. The portfolio also included a 180,147-square-foot office building, located in the Aspen Corporate Center in Nashville, that is leased to Verizon Wireless.
POLK CITY, FLA. — Indianapolis, Ind.-based Browning Investments, in cooperation with Colliers Arnold, will develop the more than 1.2 million-square-foot Axcess 4 Logistics Center in Polk City. The 104-acre property will encompass multiple buildings and include T5 fluorescent lighting and ESFR sprinkler systems. The first 554,040-square-foot building will feature 102 dock doors and four drive-up doors. Edwards Construction will build the project, which is scheduled for a February 2009 groundbreaking and a third quarter 2009 delivery.