CHESAPEAKE, VA. — Old Dominion Truck Leasing recently purchased an 8-acre, 19,500-square-foot property for new offices, truck servicing and fleet storage from Ford Motor Co., for $3 million. Patrick L. Mumey and W. Scott Wermers of Thalhimer handled sale negotiations of the property, located at 2608 Indian River Rd. in Chesapeake.
CLEARWATER, FLA. — First Industrial has sold its 18,500-square-foot flex building, located at 4908 Creekside Dr. in Clearwater, to Kashi Groves, for $2.4 million. Scott Clendening and Baharea Saffary of Commercial Partners Realty represented the buyer. Clendening and Saffary also represented Madison Realty Capital in its sale of the 13,950-square-foot office complex Villages at Countryside, located at 26338 U.S. Highway 19 N. in Clearwater, to 26338 U.S. Highway, LLC, for $1.4 million.
LITHONIA, GA. — Harbor Group International recently sold Creekside Crossing, a 281,000-square-foot, 280-unit apartment complex, located at 100 Cavalier Crossing in Lithonia, to Grubb & Ellis Apartment REIT. The property features 37 storage units, a two-story leasing center and a car care center. David Gutting and Todd Trepke of Cushman & Wakefield represented the seller, and financing was arranged by Don Marshall, Mike Bryant and John Reed of Capmark Finance.
JACKSONVILLE, FLA. — Exeter Property Group purchased an 85,259-sqaure-foot industrial building in EastPark Business Center, located at 11902 Central Pkwy. in Jacksonville, from Tech Packaging. The seller will continue to operate its corporate headquarters from the property. John Richardson and Dan Stover of Grubb & Ellis|Phoenix Realty Group represented the seller.
WASHINGTON — Corus Bank closed a $60 million loan to a joint venture of The Cohen Companies and O’Connor Capital Partners for the construction of the 14-story Velocity, a mixed-use property located at 1025 First St. SE in Washington. The building will feature 200 condominiums and 1,400 square feet of ground-floor retail space.
BLUFFTON, S.C. — Crosland and Reed Development are developing the 57-acre Buckwalter Commons, a mixed-use property at the future intersection of U.S. Highway 278 and the planned Hampton Parkway in Bluffton, near Hilton Head Island. Construction on Phase 1, consisting of 135,000 square feet of retail space, will begin next year, with a 53,543-square-foot Harris Teeter opening in early 2011. A second phase will include medical facilities and office buildings.
MIAMI, FLA. — Developer Wellington Construction Group commissioned Coral Gables-based BCArchitects to design the three-story, 18-unit Midtown Gardens in Midtown Miami. The property, located at 776 NW 30th St., will be composed of two-bedroom units. Groundbreaking is scheduled for early next year with a completion date of late 2009.
GREENVILLE, S.C. — Construction began on Windsor/Aughtry Company’s $45 million six-story, mixed-use Main at Broad, located on the corner of Main and Broad streets in downtown Greenville, which will include a 135-room hotel and 65,000 square feet of office and retail space. When completed in fall 2009, Nantucket Seafood Grill will be one of the first tenants.
HAMPTON, VA. — Henry F. Brandenstein sold the Hampton Bay Plaza and Suites, located at Interstate 64 and Mercury Boulevard in Hampton, to CAAP Hospitality, a local investment group with plans to renovate and redevelop the building, for $2.3 million. David Mumford of the Mumford Company’s Newport News headquarters represented the seller.
PEACHTREE CITY, GA. — Grubb and Ellis Apartment REIT acquired the 252,000-square-foot, 216-unit multifamily property AMLI at Kedron Village from AMLI Residential and Prudential Real Estate Investors. The 21.6-acre property, located at 100 Hyacinth Lane in Peachtree City, includes fitness and business centers and a swimming pool. Engler Financial Group represented the seller, and financing was arranged by Capmark Finance.