FORT MYERS, FLA. — Fort Myers-based J.L. Wallace has finished work on the 4,279-square-foot SunTrust Bank at Gulf Coast Town Center. Located at 17100 Ben Hill Griffin Pkwy. in Fort Myers, the building features detailed cabinetry and extensive glass work. Harold Morgan, Jim Ruby and Robbyn Spears of J.L. Wallace served as the construction team.
ATLANTA — Grubb & Ellis Realty Investors has acquired the 199,000-square-foot One Live Oak office complex, located at 3475 Lenox Rd. in Atlanta, from Fort Worth, Texas-based Crescent Real Estate Equities for an undisclosed amount. The property, which includes a seven-level parking deck, is 92 percent leased; tenants include the Securities and Exchange Commission, University of Georgia Real Estate Foundation and Corporate Offices Georgia. W. Hayes Swann and Matt Tritschler of New York City-based DTZ Rockwood represented Crescent.
SUNRISE, FLA. — Malvern, Pa.-based Liberty Property Trust has acquired a 106,910-square-foot office building from Real Estate Capital Partners for an undisclosed amount. Located at 13621 N.W. 12th St. in Sunrise’s 612-acre Sawgrass International Corporate Park, the property is 100 percent leased to UnitedHealthcare.
NEW ORLEANS — The New Orleans office of Walton Construction Co. will break ground this month on its renovation and expansion of Andrew H. Wilson Elementary School, located at 3617 General Pershing St. in New Orleans. Construction, scheduled for completion in December 2009, will include remodeling the existing 48,000-square-foot, three-story structure and building an additional 50,000-square-foot, three-story facility. The property, which is owned by the State of Louisiana Department of Education, will house classrooms, administrative areas, a cafeteria and a gym. Design services will be provided by New Orleans-based HMS Architects.
CHARLOTTE, N.C. — A. Scott Hensley and Lester Osborn of Piedmont Properties/CORFAC International represented Trimming Associates in its sale of a 73,800-square-foot warehouse, located at 900 Pressley Rd. in Charlotte, to TPM Properties for $2 million. TPM will fill 25,000 square feet of space with company offices, and Trimming will continue to operate its manufacturing business from the warehouse. Tom Auer of Cornelius, N.C.-based Centdev Properties represented TPM in the transaction.
PETERSBURG, VA. — H. Merrill Plaisted, III, of Thalhimer’s Richmond, Va., office brokered a build-to-suit transaction between Lynwood, Calif.-based Earle M. Jorgensen Co. and Clinton, Tenn.-based The Hollingsworth Cos. for its 68,000-square-foot distribution facility development. Located on 9.15 acres at the intersection of Simpson and Weakley roads in Petersburg, the $3.97 million facility will be completed by the end of this year.
ATLANTA — Boston-based Winthrop Realty Trust, in a joint venture with Shreveport, La.-based Sealy & Co., has acquired a six-building, 469,667-square-foot office complex, located in Northwest Atlanta, from an undisclosed seller for $47 million. In the transaction, the venture assumed the building’s $37 million, 6.12 percent existing mortgage that will mature in November 2016. The property is 88 percent occupied and is expected to yield an 11 percent return.
ST. PETERSBURG, FLA. — Parkway Properties has sold the 17-story, 185,674-square-foot Wachovia Plaza, located at 150 2nd Ave. in St. Petersburg, to CNL Commercial Real Estate, a division of CNL Financial Group, for $26.3 million. The Class A office tower is 98 percent leased to 30 tenants, including Wachovia Bank, UBS Financial Services, H&R Block and Universal Health Care. Dale Peterson of CB Richard Ellis’ Tampa, Fla., office represented Parkway Properties.
BLACKSBURG, VA. — New York-based Cannon Design—along with Ballou Justice Upton Architects, civil engineers Anderson & Associates and the Whiting-Turner Contracting Co.— has begun construction on a 50,000-square-foot basketball facility on the campus of Virginia Polytechnic Institute & State University in Blacksburg. The building will house college basketball programs for women and men, and it will include two practice courts, physical therapy facilities, conference rooms, coaching offices and locker and lounge areas. Construction costs for the building, which will be completed in August 2009, are estimated at $18 million.
ATLANTA — The Atlanta-based firms Regent Partners and Urban Realty Partners have completed vertical construction on their 219-unit The Brookwood condominiums, located at 1829 Peachtree Rd. in Atlanta. The property, which will be finished next year, is being constructed to LEED standards and features 1 acre of green space, an array of sidewalks and underground power lines. Sustainable construction practices included recycling 86 percent of the construction debris and installing a cistern to capture water for irrigation. The development will also include a pool, gazebo, clubhouse, gardens and an outdoor summer kitchen. Two and three-bedroom floor plans range in size from 1,200 to 2,900 square feet.