Southeast

MIXED-USE TOWER IN ATLANTA’S BUCKHEAD NEIGHBORHOOD NEARLY FINISHED

by admin August 13, 2008

ATLANTA — Cousins Properties is nearing completion on its19-story 10 Terminus Place, located at the intersection of Piedmont Road and Peachtree Street in Atlanta. The property is built on top of a 12-story parking deck and features restaurants, offices and residences. Cooper Carry’s Atlanta office and Durham, N.C.-based Duda/Paine Architects provided design services for the building, which includes 137 residential units, ranging in size from 787 square feet to 4,598 square feet. The property joins the mixed-use 100 Terminus place in the Terminus complex. A third office building, Terminus 200, will deliver next year.

August 13, 2008

$13 MILLION CONSTRUCTION LOAN ARRANGED FOR AUGUSTA HOTEL

by admin August 13, 2008

AUGUSTA, GA. — Jones Lang LaSalle Hotels has arranged a $13.6 million construction loan for Stevens Creek Developments’ 154-unit Sheraton Hotel, located at 1075 Stevens Creek Rd. in Augusta. The five-story hotel, which is scheduled to open next year, sits on a 7-acre site .25 miles from Interstate 20 and 2 miles from the Augusta National Golf Club.

August 13, 2008

Civic Southeast

THOMAS D. WOOD & CO. SECURES FINANCING FOR FLORIDA SOCIAL SECURITY BUILDING

by admin August 13, 2008

LAKELAND, FLA. — Thomas D. Wood & Co.’s Doug Rozzell has secured a fixed-rate $3.2 million loan through a national financial institution for the 14,212-square-foot Lakeland Social Security Administration Building, located at 550 Commerce Dr. in Lakeland. The 6.8 percent, 10-year loan comes with a 20-year amortization and a 97 percent loan-to-cost rate.

August 13, 2008

Retail Southeast

NEWPORT NEWS’ TURNBERRY CROSSING RECEIVES FINANCING

by admin August 13, 2008

NEWPORT NEWS, VA. — Matthew Kohlhoss and Gary McGlynn of NorthMarq Capital’s Washington, D.C., office have arranged $2.6 million in first mortgage financing for SOJ’s 53,775-square-foot Turnberry Crossing, located at 12638 Jefferson Ave. in Newport News. Financing for the center, which includes the tenants Tuesday Morning and Goodwill Industries, was secured through StanCorp Mortgage Investors. The loan has a 20-year term and a 25-year amortization schedule.

August 13, 2008

Retail Southeast

CRIFASI ENTERPRISES BREAKS GROUND ON NAPLES CENTER

by admin August 12, 2008

NAPLES, FLA. —Naples-based Crifasi Enterprises has broken ground on the 133,000-square-foot Dolphin Plaza, located at the intersection of Santa Barbara and Davis boulevards in Naples. The site will include a 40,000-square-foot anchor and a handful of restaurants and retail services. Cleveland-based Richard L. Bowen & Associates is designing the center with sustainable elements in mind, including water-saving measures. Illuminated water fountains, unusual window patterns and lavish landscaping are all hallmarks of Crifasi projects. Phoenix Associates of South Florida will provide construction services, and the center is expected to deliver during the summer of 2009.

August 12, 2008

Office Southeast

DIVARIS REAL ESTATE BROKERS SALE OF NEWPORT NEWS OFFICE BUILDING

by admin August 12, 2008

NEWPORT NEWS, VA. — Virginia Beach, Va.-based Divaris Real Estate has brokered Municipal Partners purchase of the 98,506-square-foot Class A Symantec Building, located at 1 Symantec Way on the corner of Oyster Point Road and Canon Boulevard in Newport News, from Symantec Corp. for an undisclosed amount. Financing for the three-story property, which was built in 2002 on an 11.12-acre site, was handled by Town Bank Peninsula. Cushman & Wakefield represented Symantec in the sale.

August 12, 2008

Retail Southeast

74,000-SQUARE-FOOT LAKE LANIER SHOPPING CENTER CHANGES HANDS

by admin August 12, 2008

CUMMING, GA. — Roswell, Ga.-based Mimms Enterprises has purchased the 74,471-square-foot Lanier Commons Shopping Center, which fronts Browns Bridge and Keith Bridge roads in Cumming, from BCI-Lanier Commons LLC for an undisclosed amount. The center was built in 2004 and is 95 percent occupied by Publix, Hollywood Video and Rice Restaurant and Sushi Bar. Jim Hamilton and C. Whitney Knoll of Holliday Fenoglio Fowler LP’s Atlanta office represented the seller.

August 12, 2008

Industrial Southeast

CHARLOTTESVILLE COMPANY ACQUIRES CHESAPEAKE INDUSTRIAL BUILDING

by admin August 12, 2008

CHESAPEAKE, VA. — Charlottesville, Va.-based Belfast Bay has purchased a 60,000-square-foot industrial building in Cavalier Industrial Park, located at 3944 Holland Blvd. in Chesapeake, from Virginia Beach, Va.-based Cavalier Holland Partners LLC for an undisclosed amount. Hal Yuill, a member of CB Richard Ellis’ National Private Client Group, represented the buyer, and NAI Harvey Lindsay Commercial Real Estate’s Chip Worley represented the seller. The property, which is 100 percent occupied, is located near interstates 64 and 264.

August 12, 2008

Multifamily Southeast

CB RICHARD ELLIS BROKERS SALE OF RICHMOND APARTMENTS

by admin August 12, 2008

RICHMOND, VA. — W. Barry Hofheimer, Scott Boyers and Wink Ewing of CB Richard Ellis’ Richmond office represented JG Virginia LP in the sale of the 98-unit Hampstead Apartments to Windsor Co. for $5.1 million. Located at 2340 Hampstead Ave. in Richmond, the 7-acre site sits near retail amenities and Interstate 64.

August 12, 2008

Hospitality Southeast

ROCKBRIDGE PARTNERS ACQUIRES $45 MILLION IN LAND, HOTELS AND OFFICE SPACE

by admin August 11, 2008

ROCKY MOUNT, N.C. — RockBridge Partners LLC has acquired a 461-room, four-hotel portfolio, the 31,933-square-foot mixed-use Gateway Center and a 4.57-acre parcel of land, all located in an area 1 mile east of I-95 off U.S. 64 in Rocky Mount, for $45.9 million. The hotels will be managed by Atlanta-based Hospitality Ventures and include a 168-room Holiday Inn, a 78-room Residence Inn, a 90-room Courtyard by Marriott and a 125-room Comfort Inn. The Holiday Inn is undergoing a $6.5 million transformation into a 166-room Doubletree, and the other three hotels will receive $2 million in renovations.

August 11, 2008

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