TEGA CAY, S.C. — Centurion Partners will start construction on the final building in its more than 27,000-square-foot Graystone Shopping Center, located on Highway 160 in Tega Cay, this fall, with an estimated completion date of spring 2009. The development, which is connected to the master-planned Stonecrest Village, will also add a slew of new tenants. Great Clips, Upscale Nail Spa and Taco Bell will all move in this month, while T-Mobile Wireless will open later this fall. Italian Village Pizza and DentalWorks will be open by spring of next year.
BOSSIER CITY, LA. —CPA: 17–Global, a publicly-held REIT affiliate of W.P. Carey & Co., provided a sale-leaseback to Sabre Industries for a 386,588-square-foot warehouse in Bossier City. The Louisiana building is part of a two-property, $28 million transaction between the companies. The other industrial building is located in Alvarado, Texas.
TAMPA, FLA. — Radco Management has sold the 215-unit Village Oaks apartment complex, located at 8425 Montravail Circle in Tampa, to Mid-America Apartment Communities, a Tennessee-based REIT, for $21.25 million. The 3-year-old property spans 279,750 square feet, and 19 of its 234 units are individually-owned condominiums. Building amenities include a resort-style pool and remote control lighting.
PEACHTREE CITY, GA. — Grubb & Ellis Realty Investors has purchased the 306,000-square-foot, 312-unit Retreat at Peachtree City from a joint venture of AMLI Residential and Prudential for an undisclosed amount. The 94 percent-occupied property spans 15 residential buildings and includes a swimming pool, a lighted tennis court and an executive business center. The sellers were represented by Engler Financial Group, and Capstone Realty Advisors secured financing for the transaction.
RIVERVIEW, FLA. — Construction has started on the 135,000-square-foot second phase of Summerfield Crossings, a joint venture among RMC Property Group, Electra and Keraney Construction. The second phase of the 70-acre center, which is located at the intersection of U.S. Highway 301 and Big Bend Road in Riverview, will be anchored by an 80,000-square-foot Bealls department store. Construction is scheduled for completion in the spring of next year.
GREENVILLE, S.C. — The British manufacturer Deltex Medical Group has acquired an office at 330 E. Coffee St. in Greenville as part of the expansion of its North American operations and will begin to look for new facilities in 6 to 8 months. The expansion could create 20 additional jobs over the next 2 years to provide sales, marketing and clinical training support to hospitals and medical centers. The company’s initial capital investment is estimated at $2 million.
GREENSBORO, N.C. — Hal Kern of North Carolina-based Brown Investment Properties has brokered R.L. Kern Properties and Kern Properties’ purchase of the 94,000-square-foot New Garden Crossing from CBL Properties for $19.5 million. The shopping center, located on New Garden Road in Greensboro, houses the tenants Lowes Foods, Office Depot, Bank of Oak Ridge and Chili’s Grill & Bar. Kevin Kemp of Triad Commercial Properties represented the seller.
SUNRISE, FLA. — Liberty Property Trust has purchased a 106,910-square-foot medical office building, located at 13621 N.W. 12th St. in Sunrise, from an undisclosed buyer for $16.55 million. The property, which sits on 6.95 acres, is fully leased to United Healthcare. Darren Sides and Tim Schenk of Stan Johnson Co.’s Team Sides brokered the transaction and represented the seller’s advisor, New York City-based Real Estate Capital Partners.
PLANTATION, FLA. — Construction has commenced on Miami-based American Land Ventures’ two building, 251-unit Residences at the Fountains, located on S.W. 78th Street in Plantation. The project features townhomes and apartments built on top of a 365-space parking garage and will also include retail and office space on the ground floor. Fort Lauderdale, Fla.-based Stiles Construction Co. will provide contracting services, with an expected delivery date of fall 2010.
VIRGINIA BEACH, VA. — To accommodate recent growth, Virginia Beach-based Liberty Tax Service will add an additional 30,000 square feet to its currently 31,000-square-foot headquarters, located in the Corporate Landing Business Park on Dam Neck Road in Virginia Beach. The expansion was spurred on by the company’s acquisition of eSmart Tax last year. The project is expected to cost $6.46 million and generate 144 new jobs.