MIAMI — Construction will begin by the end of this year on the more than 60,000-square-foot Kallisto, Boston-based Congress Group’s luxury multifamily development located at 120 Ocean Dr. in Miami’s South Beach. Plans call for eight single-floor residences and two penthouses, which range in cost from $4.9 to $13.5 million. Condos are designed with floor-to-ceiling windows and personal exercise rooms, and the property includes a pool, sauna and bar. Delivery is expected in the fourth quarter of 2010.
Southeast
BELCAMP, MD. — Construction has begun on a 24,000-square-foot office building, the third in Columbia, Md.-based Manekin and Alex Brown Realty’s $60 million, 467,000-square-foot Water’s Edge Corporate Campus, located at the intersection of U.S. routes 40 and 543 in Belcamp. The lead tenant, Johns Hopkins Community Physicians, has signed an 11-year lease for the new building, which will deliver in February.
ANNAPOLIS, MD. — Canada-based Sun Life Assurance Co. recently sold the 51,971-square-foot Parkway Building, located at 200 Harry S. Truman Pkwy. in Annapolis, to the Maryland Association of Realtors for $12.8 million. The four-story building is 92 percent leased. Sun Life was represented by Dennis Malone, Phil Iglehart, Jay Wellschlager and Jon Carpenter of Colliers Investment Services Group, a division of Colliers International.
NEW PORT RICHEY, FLA. — Kerry Walsh of Coldwell Banker Commercial Wikle Properties’ Palm Harbor, Fla., office recently represented both parties in Helen Ellis Memorial Hospital’s sale of a 17,600-square-foot medical office building to a local buyer for $2.5 million. Walsh represented both parties in the transaction for the building, located at 2114 Seven Springs Rd. in New Port Richey.
HENRICO COUNTY, VA. — JEDD of South Carolina has purchased the 62,700-square-foot, two-office property Parham Place I & II, located at 1910 and 1920 E. Parham Rd. in Henrico County, from Parham Place I & II Associates for $7.6 million. Eric Robison, Evan Magrill and N. Dean Meyer of Thalhimer’s Richmond, Va., office handled negotiations for the 100 percent occupied building.
LINTHICUM HEIGHTS, MD. — Construction has begun on Rockville, Md.-based Opus East’s 9.5-acre, 160,000-square-foot development of West*Quest C, an office building located in the West*Quest Technology Park on the Baltimore—Washington corridor in Linthicum Heights. Global defense firm Northrop Grumman has signed a 10-year lease to fully occupy the building, which was constructed to LEED standards. The building will deliver in the third quarter of 2009.
LEXINGTON, KY. — Hendricks & Partners negotiated Lexington-based Lake Crossing’s $18.2 million sale of the 208-unit apartment community Resort at Lake Crossing, located at 3601 Brookwind Way in Lexington, to Irvine, Calif.-based Passco Resort at Lake Crossing S and Passco Resort at Lake Crossing H. K&S Exchange XI acted as a qualified intermediary for the seller. Todd Stofflet, Rick Vidrio and Rick Brace of Hendricks & Partner’s Detroit office represented the seller, along with Lexington-based Stidham Commercial Partner’s Jeff Stidham.
DUNCAN, S.C. — Plymouth Meeting, Pa.-based Exeter Property Group has purchased a 96,000-square-foot industrial building, located at 260 Parkway East in Duncan, from Two Sixty Properties for an undisclosed amount. The seller was represented by Brian Young, a member of the Industrial Group in Grubb & Ellis|The Furhman Co.’s Greenville office.
LEXINGTON, KY. — Pittsburgh-based McKinney Properties recently purchased the 182-unit Courtyards student-housing complex, located near the University of Kentucky in Lexington, from a private seller for $17.4 million. The facility includes tennis, volleyball and basketball courts, a gym and a pool. Newton Square, Pa.-based GMH Capital Partners represented the seller.
JACKSON, MISS. — Jones Lang LaSalle has brokered Humble Hospitality’s $6.8 million sale of a 107-room Holiday Inn Express Hotel & Suites in Jackson to Jackson Express Hotel Investment. The property features 35 suites, a business center and a fitness center.