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Southeast

HospitalitySoutheast

ATHENS HOTEL TAKES AIM AT GOLD LEED CERTIFICATION

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ATHENS, GA. — Construction has started on Atlanta-based Rialto Property Partners and Savannah, Ga.-based Melavar’s 130-room Hotel Indigo in downtown Athens. The property is being built to Gold LEED standards, and environmental features include an outdoor cistern to collect rainwater for irrigation, energy efficient heating and cooling systems and regenerative elevators. An outdoor garden lounge, an art gallery and an adjacent music venue are also part of the development, which will deliver in the fall of 2009.

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MultifamilySoutheast

NAI TAMPA BAY BROKERS SALE OF MULTIFAMILY DEVELOPMENT

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TAMPA, FLA. — John Burpee, T. Sean Lance, Casey Babb and Bill Renje of NAI Tampa Bay’s Multifamily Team brokered the sale of South Florida-based P.I. Holdings No. 1’s 232-unit, Class B Altamonte Apartments to Asset Development & Management Group for $13.7 million. The apartment, located at 8730 N. Himes Ave. in Tampa, sits on 12.64 acres. The sale was coordinated through the developer’s lender, Compass Bank.

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IndustrialSoutheast

ROMAR DISTRIBUTION INITIATES TWO MIAMI WAREHOUSE TRANSACTIONS

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MIAMI — Doris Parham and Leonard Perlman of Coldwell Banker Commercial NRT’s Coral Gables, Fla., office negotiated two transactions involving Romar Distribution totaling $8.3 million. Alrich Inc. purchased Romar’s 24,706-square-foot distribution warehouse, located at 8100 N.W. 68th St. in Miami, for $2.7 million. Romar also has purchased a 63,000-square-foot warehouse, located at 3550 N.W. 112th St. in Miami, from Archer Daniels Midland Co. for $5.6 million.

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OfficeSoutheast

KELLER WILLIAMS BROKERS SALE OF MIAMI OFFICE BUILDING

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MIAMI — Keller Williams Commercial Division’s Paul White has negotiated the sale of 6710 Partners’ 3,382-square-foot office building, located at 6710 S.W. 80th St. in Miami, to Silver Lining Investments for $1.2 million. Silver Lining plans to turn the office, which had been occupied by the previous owners for 16 years, into a daycare facility.

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MultifamilySoutheast

NEW YORK CITY COMPANY ACQUIRES SEVEN METRO ATLANTA APARTMENTS

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ATLANTA — New York City-based The Praedium Group has acquired a six-county, seven-property metro-Atlanta multifamily portfolio for $45 million. The 938 units in Fulton, Henry, DeKalb, Rockdale, Gwinnett and Hall counties comprise 156 buildings, with an average size of 1,041 square feet per unit. Praedium acquired the portfolio through a joint partnership with New York City-based Audubon Communities Management.

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RetailSoutheast

SHOPPING CENTER OPENS IN FORT MYERS DEVELOPMENT

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FORT MYERS, FLA. — Cincinnati-based North American Properties has opened its 480,000-square-foot power center at The Forum at Fort Myers, a 706-acre site located between Colonial Boulevard and State Route 82 in Fort Myers. Anchor tenants include Target, Best Buy, Ross Dress For Less, Bed Bath & Beyond, Staples, Books-A-Million, Petco, Rack Room Shoes, The Home Depot and Mattress Giant. An additional five tenants will open shop in the next few months, and SunTrust Bank will move into an outparcel in early 2009. The master-planned Forum at Fort Myers, which features 850,000 square feet of office space and 1,300 residential units, will deliver in 2010.

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IndustrialSoutheast

NATIONAL PUBLIC RADIO ACQUIRES NEW D.C. HOME

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WASHINGTON, D.C. — National Public Radio recently closed on its acquisition of a 165,000-square-foot warehouse, located at 1111 N. Capitol St. N.E. in Washington, from Washington-based J Street Development for an undisclosed amount. The public radio company will integrate the building’s façade and structure with a new 10-story office tower. The station’s 600 Washington-based employees will move into the new building by 2012. Vernon Knarr, Art Greenberg, Julie Rayfield and David Perlstein of New York City-based Studley represented NPR.

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RetailSoutheast

THE SALVATION ARMY BUYS RICHMOND LA-Z-BOY RETAIL SPACE

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RICHMOND, VA. — James Ashby, IV, of Thalhimer’s Richmond office handled the negotiations in The Salvation Army’s purchase of a 15,600-square-foot store from Washington, D.C.-based LZB Furniture Galleries for $2 million. The building, located at 11000 Midlothian Turnpike in Richmond, will be converted from a La-Z-Boy retailer to a Salvation Army.

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OfficeSoutheast

PARMENTER REALTY PARTNERS ACQUIRES NASHVILLE CITY CENTER

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NASHVILLE, TENN. — Miami-based Parmenter Realty Partners has acquired the 480,224-square-foot Class A office building Nashville City Center, located at 511 Union St. in Nashville, from Nashville City Center Partnership for an undisclosed amount. The purchase of the fully-leased building was part of the $550 million Parmenter Realty Fund III and includes contiguous land for a 570-car parking garage. Eastdil Secured’s Atlanta office represented the seller in the transaction.

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