WEST PALM BEACH, FLA. — Rendina Cos. has broken ground on its three-building, 100,000-square-foot University Centre development, located at the intersection of U.S. 441 and Belvedere Road in West Palm Beach. South University has signed a 10-year lease for the 40,000-square-foot first building and 30,000 square feet of space in the second property. The university will occupy the site in fourth quarter 2009, taking advantage of the building’s amenities, which include large lab space, lecture halls, a library and seminar rooms.
CHARLOTTE, N.C. — Bill Wood of Charlotte, N.C.-based Trinity Partners has leased space in two local warehouses totaling more than 210,000 square feet to two companies. He represented Costa Mesa, Calif.-based Anna’s Linens in its lease of 112,000 square feet in ProLogis’ Ridge Creek 1 building, located on Ridge Creek Drive in Charlotte. Westerville, Ohio-based Exel has also renewed its 102,600-square-foot lease for 1000 Bond St. in Charlotte. Further details of the loans were not announced. Ridge Creek will serve as a primary distribution point for Anna’s, and Excel will continue to use its property on Broad Street to service its Freightliner account.
DUNCAN, S.C. — PrecisionCast Parts Corp. has sold a two-building, 148,796-square-foot property, located on Victor Hill Road in Duncan, to Charlotte, N.C.-based Forsite Development for an undisclosed price. Charleston, S.C.-based Coppedge & Tison’s Marcus Cornelius, IV, and Todd Younghans represented the seller.
SANDY SPRINGS, GA. — Atlanta-based Wells Real Estate Investment Trust II has taken majority ownership of the recently completed 354,963-square-foot Three Glenlake, which was leased to Newell Rubbermaid. Wells has signed a new 12-year lease with the company, which will continue to operate its corporate headquarters in the building. Three Glenlake, a 14-story tower, was built to Green Globes environmental standards by Pope & Land Enterprises, Granite Properties and Greenstone Properties. Eastdil’s Randy Evans and Mike McDonald brokered the closing, and Wells was represented internally by Keith Willby.
DEERFIELD BEACH AND CORAL SPRINGS, FLA. — Deerfield Beach-based SIKON Construction Corp. has completed two SuperTarget stores totaling more than 370,000 square feet. The firm finished a 186,212-square-foot store at the intersection of Hillsboro Boulevard and Powerline Road in Deerfield Beach and has built a 185,000-square-foot store at the intersection of U.S. 441 and Wiles Road in Coral Springs. Minneapolis-based RSP Architects designed both buildings.
WINCHESTER, VA. — Cowperwood Co. and KMD Architects’ development of a $28 million,165,000-square-foot facility in Winchester for the Federal Emergency Management Agency has been completed and is fully operational. The property is LEED certified and features a green roof to absorb rain water and a 10-foot wall made from local boulders. The building includes office and warehouse space and an emergency command center.
BALTIMORE — Greater Baltimore AHC has received $30 million in financing for the renovation of its 301-unit MonteVerde, an affordable housing complex located in the Park Heights community of Baltimore. The funding, which was obtained from state bonds, housing tax credits and a conventional loan, will allow an upgrade to the kitchen and bath area of each apartment. Further renovations include a new complex entrance with added security features and new HVAC upgrades. The project is already underway, with Baltimore-based The Michael Group serving as general contractor with the help of the local architect Hord Coplan Macht.
WASHINGTON, D.C. — J Street Development, through a joint venture with a fund advised by Hartford, Conn.-based UBS Global Asset Management, has acquired a 109,959-square-foot office building, located at 666 11th St. in Washington. The 11-story building, which was built in 1968, is proximate to all five metro lines and includes a three-level garage. J Street is in the midst of planning interior and exterior renovations.
COOKEVILLE, TENN. — Memphis, Tenn.-based Baldor Electric Co. has sold the 671,000-square-foot CoLinx Distribution Center, located at 1536 Genesis Rd. in Cookeville, to Crossville Acquisitions for $30.69 million. Terry E. Smith of NAI Nashville brokered the transaction with the help of Fort Smith, Ark.-based Bradford & Udouj Realtors’ John Hagen.
ARLINGTON, VA. — Trammell Crow Residential, in a joint venture with Prudential Real Estate Investors, will soon break ground on the 217-unit Alexan 24, located at 2400 24th Rd. South in Arlington. Bank of America has provided a $70 million loan for construction, and twenty of the units will be reserved as affordable housing. Amenities of the five-story property include a pool, fitness center and game room. Delivery is scheduled for third quarter 2010.