CARRBORO, N.C. — Charlotte-based Morningstar Properties, through a joint venture with Chicago-based Harrison Street Real Estate Capital, has purchased a 78,210-square-foot storage center, located on South Greensboro Street in Carrboro. Further details of the transaction were not announced. The property, which encompasses 727 units, will operate under the Morningstar Mini Storage banner and features climate-controlled units and drive-up access. The acquisition marks Morningstar’s second storage facility purchase in the Chapel Hill/Carrboro market.
Southeast
NAPLES, FLA. — A 53,000-square-foot Whole Foods has opened its doors at The Mercato, a mixed-use project spanning 53 acres at the intersection of U.S. 41 North and Vanderbilt Beach Road in Naples. The center, a joint venture between The Lutgert Companies and Barron Collier Cos., will welcome more tenant openings in the coming months, with a grand opening slated for next year.
ARDEN, N.C. — Jeff Matulis of Stan Johnson Co. has represented an undisclosed retail developer in the sale of a Walgreens building in Arden to a private buyer for $6.24 million. The buyer represented itself in the purchase of the 14,820-square-foot property.
TAMPA, FLA. — Taylor & Mathis of Florida and MetLife Insurance Co. have tapped Florida-based api(+) to help design the more than 1 million square-foot MetWest, a mixed-use project spanning 31 acres across from the International Plaza shopping center in Tampa. The property will feature 77,000 square feet of retail space mixed with office, hotel and residential components. api(+) will provide design services for the retail and restaurant spaces as well as developing the graphic identity, wayfinding and environmental graphics programs.
ATLANTA — Atlanta-based IDI Services Group has extended Menlo Worldwide Logistics’ lease of the 256,700-square-foot Shawnee Ridge Building 3, located in Shawnee Ridge off Interstate 85 in Atlanta, for 5 years. Menlo Worldwide, which will occupy the space until September 2013, has used the warehouse for inventory management and product distribution since April 1995.
RICHMOND, VA. — Dallas-based Archon Group has broken ground on its 238,000-square-foot mixed-use development The Corner at Short Pump, located across the street from the Short Pump Town Center in Richmond. The 41-acre project will be anchored by an 86,000-square-foot Kroger Market Store and will feature 79 townhomes. Kroger will open late next year, and the rest of the center will deliver during the first quarter of 2010.
MIAMI — Under a contract with Flagler Construction, Tilt-Con Corp. of Orlando, Fla., has commenced construction of the 189,140-square-foot Beacon Lakes Building 12 in Miami. The warehouse was designed by Boca Raton, Fla.-based RLC Architects and is expected to deliver in December.
VIRGINIA BEACH, VA. — Boston Capital Finance recently closed a permanent loan for the 174-unit Ocean Gate Apartments, located near the Norfolk Virginia Beach Expressway in Virginia Beach, for $10.4 million. The 15.33-acre complex encompasses 20 two-story buildings. Apartment amenities include a swimming pool, fitness center and two playgrounds.
MILTON AND NORCROSS, GA. — An entity of EOLA Capital has sold the 170,400-square-foot Deerfield Professional Centre and the 163,000-square-foot Peachtree Corners Corporate Centre in a package deal to Crown West Realty for $38.6 million. Deerfield, which consists of three single-story buildings, sits on 17.3 acres at 13000 Deerfield Pkwy. in Milton. The property is 95 percent leased by tenants such as BB&T Payroll Services, the city of Milton and Exide Technologies. Peachtree Corners, located at 4775 and 4855 Peachtree Industrial Blvd. in Norcross, is 62 percent leased and houses Elekta Instruments and Toshiba America Business Solutions.
HUDSON, FLA. — Jacksonville, Fla.-based Case Pomeroy Properties has sold the 79,283-square-foot Fairway Oaks Shopping Center, located at the intersection of Little Road and Hudson Avenue in Hudson, to Atlanta-based Forge Capital Partners for $7.62 million. The 14-year-old property is anchored by a 42,323-square-foot Publix and is 84 percent leased. Karl Johnston and Patrick Berman of Cushman & Wakefield represented the seller.