OSCEOLA COUNTY, FLA. — Realvest Development has completed three buildings — one totaling 49,920 square feet and two smaller ones at 13,600 square feet and 11,600 square feet — at Poinciana CommerCenter West. The facility, located at U.S. 17-92 and Poinciana Parkway in Osceola County, features 20-foot ceilings, energy-efficient lighting and solar windows.
Southeast
CUMMING, GA. — Sean Leahy of Phoenix-based Tradition Realty Advisors has represented an undisclosed buyer in the sale of a 14,820-square-foot Walgreens, located at 2595 Peachtree Parkway in Cumming, for $4.95 million. Marcus & Millichap represented the undisclosed seller.
ST. PETERSBURG, FLA. — H.I.P. Paving has purchased a 31,796-square-foot two-building portfolio, located at 800 31st St. S and 650 34th St. S in St. Petersburg, from Cox Lumber Co. for $1.1 million. Scott Clendening of St. Petersburg-based Commercial Partners Realty represented the buyer.
WASHINGTON, D.C. — Washington-based Perseus Realty, in partnership with YMCA of Metropolitan Washington, FLGA Real Estate Group and Capmark Investments, has broken ground on a $97 million mixed-use project, located at the intersection of 14th and W streets in Washington’s U Street Corridor. The property includes 231 apartments, a 46,000-square-foot redevelopment of a historic YMCA and 12,200 square feet of retail space. The $15 million YMCA building will feature fitness and childcare facilities, meeting rooms and a 25-meter indoor swimming pool. Hellmuth, Obata & Kassabaum and Davis Carter Scott Ltd. are designing the 263,000-square-foot development. Delivery is expected by December 2010.
ORLANDO, FLA. — Freehold, N.J.-based Monmouth Real Estate Investment Corp. has purchased a 110,638-square-foot industrial building, located at 950 Bennett Rd. in Orlando, from Delaware-based FE Orlando Investment Limited Partnership for $8.3 million. The property is leased to Federal Express Corp. until 2017.
SPARTANBURG AND GREENWOOD, S.C. — Charleston, S.C.-based Ziff Properties has acquired two shopping centers totaling more than 220,000 square feet. Mike Burkard and Steve Shields of CB Richard Ellis represented an undisclosed seller in Ziff’s purchase of the 208,703-square-foot Cedar Springs Shopping Center in Spartanburg for $10.8 million. The property features a 34,928-square-foot Food Lion. Ziff also purchased the 16,144-square-foot Greenwood Commons, located on the Interstate 72 Bypass in Greenwood, for $2.75 million. Marcus & Millichap’s Andrew Margulies represented the undisclosed seller in the Greenwood transaction.
ORLANDO, FLA. — Altamonte Springs, Fla.-based Roger B. Kennedy Inc. has completed construction on the 40,000-square-foot Avalon Office Building, located in the Avalon Park community in Orlando. The $4.8 million project was designed by Orlando-based SchenkelShultz Architecture.
GREENSBORO, N.C. — Ten retailers have pledged to join the 1.3 million-square-foot Friendly Center, located near Holden Road in Greensboro. Custom Diamond Creations, SportClips, WineStyles and AT&T Mobility have already opened, with Oreck, Poblano’s and Yankee Candle set to open in October. Carter’s and Williams-Sonoma will follow in November, and Anthropologie is planned for a January 2009 delivery. The new tenants join Belk, Macy’s, Sears and a host of others already housed in the center.
MORRISVILLE, N.C. — Raleigh, N.C.-based JDavis Architects and Fairfax, Va.-based Dewberry have completed the $32 million Grace Park, a mixed-use community located at the intersection of Morrisville Carpenter Road and Davis Drive in Morrisville. The project includes 250,000 square feet of residential space broken up into apartments, two-story brownstones and townhomes. A proposed 87,0000 square feet of retail and restaurant space will house tenants such as Starbucks Coffee, Quiznos Sub, Salon SOS, Dairy Queen, Buffalo Wings and Rings and Anytime Fitness.
MIAMI — Carlisle Development Group and Carrfour Supportive Housing have completed renovations to the Royalton, located at 131 S.E. 1st St. in Miami, turning the historic hotel into a 100-unit apartment complex. The property, which was built in 1923 and cost $18.5 million to renovate, will accommodate formerly-homeless citizens with fully-furnished apartments. Monthly rents range from $167 to $622 based on income. Amenities include wireless Internet, a computer lab and laundry facilities.