CORAL GABLES, FLA. — Florida-based Venera Holdings recently sold the 59,155-square-foot Whole Foods Market, located in Plaza San Remo in Coral Gables, for $31.1 million. The retail space anchors the shopping center, located at 6705 Red Road. Colliers Abood Wood-Fay represented the seller, and information about the buyer was not released.
DECATUR, GA. — Grubb & Ellis Healthcare acquired Decatur Medical Plaza, a 43,000-square-foot, three-story building located at 200 E. Ponce De Leon Avenue in Decatur. The property, which was renovated in 2007, is composed of four units, which are all currently leased. Stewart Calhoun of Cushman & Wakefield’s Atlanta office represented the buyer.
ALEXANRDIA, VA. — B&B Realty Investments received a $13 million mezzanine loan from Cohen Financial for the purchase of the 271,688-square-foot Alexandria Corporate Park, which was sold by Bethesda, Md.-based First Potomac Realty Trust. The flex property, located at 6315 Bren Mar Drive, is fully occupied by a variety of tenants, including the General Services Administration. Mark Strauss and Kevin Greenberg of Cohen Financial’s Newport Beach office arranged the financing for the buyer.
MIAMI — RREEF Real Estate purchased the Town & Country Corporate Center in Miami, a five-story, 117,458-square-foot office building located at Kendall Drive and 117th Avenue, for an institutional client. Gabe Menocal of Miami-based Powerhouse Realty represented RREEF in the purchase from KICAN Realty. The sale amount was not released.
ALEXANDRIA, VA. — Transwestern Realty Finance Partners, a commercial real estate investment firm, closed an $11 million loan for MGP Real Estate’s acquisition of the 348,218-square-foot, four-building office property Braddock Place. This is the second time the investment and real estate companies have worked together on financing.
MIAMI — Bilzin Sunberg Baena Price & Axelrod closed an $85 million construction loan for MBeach1’s redevelopment of 1111 Lincoln Rd. in Miami. Mellon United National Bank served as the loan’s lead arranger, with SunTrust Bank and KeyBank also participating. When completed, 11 11 will offer residential units, a bank, two restaurants and 40,000 square feet of retail space. The architecture firm Herzog & DeMeuron, responsible the main venue of the 2008 Summer Olympics, designed the building.
BALTIMORE — St. John Properties is developing a 104-acre office park in Fredrick, Md., which will feature more than 400,000 feet devoted to scientific research. The project, located south of Fredrick near the intersection of MD Route 85 and MD Route 270, will house 11 tenants in separate buildings, ranging from 25,000 square feet of space to 62,050 square feet of space, and is expected to deliver in the first quarter of 2009.
TAMARAC, FLA. — R. Lee Brushingham of Sperry Van Ness’ Fort Lauderdale office recently completed the sale of Commercial Place, a 45,000-square-foot, 3.54-acre property in Fort Lauderdale, to Margate, Fla.-based TML Associates, for $4 million. The property, built in 1975, is 76 percent occupied. Brushingham represented both parties in the transaction.
HENRICO COUNTY, VA. — McKenny Land Co., an industrial real estate investment company, purchased the 14,600-square-foot property at 6700 Janway Dr. in Richmond, for $1.2 million. Millard F. Jones, II, of Thalhimer negotiated the sale on behalf of the Louisiana-based Royal Oldsmobile Company. The property, a former body shop, was purchased as an investment.
ORLANDO, FLA. — Michael Collard Properties tapped Pertree Constructors to build 25,000 square feet of retail space at Saxon Crossing Retail Center, a shopping center in Orange City, Fla., anchored by an L.A. Fitness, for $2.1 million. The extra square footage will make room for as many as 18 businesses.
