Southeast

MUVICO ENTERTAINMENT TO OPEN THEATER IN $1 BILLION MIXED-USE DEVELOPMENT

by admin June 27, 2008

PLANTATION, FLA. — Muvico Entertainment LLC has announced plans to construct a 14-screen theater within 321 North, US Capital Holdings’ $1 billion mixed-use development in Plantation. For an initial term of 20 years, Muvico Entertainment will lease approximately 70,000 square feet of space on a 35-acre site located off Broward Boulevard and University Drive. The facility will feature 3,300 seats, with one theater containing a stage for live events including local plays and concerts. Amenities will include theaters with 3-D capabilities, valet parking, childcare facilities, reserved seating, a bar and restaurants, and Muvico Entertainment’s new interactive gaming lounge. The theater is scheduled to open in October 2010. US Capital Holdings’ 321 North project will contain approximately 613,500 square feet of retail space; 474,000 square feet of Class A office space; and 600 residential units. Additionally, the existing development on the property includes a 650,000-square-foot enclosed retail mall, a 138,000-square-foot office pavilion, and a separately owned Sheraton Suites Hotel.

June 27, 2008

EASLAN CAPITAL BEGINS WORK ON RETAIL CENTERS TOTALING 117,000 SQUARE FEET

by admin June 27, 2008

DOUGLASVILLE AND MILTON, GA. — The Atlanta office of Easlan Capital has begun site work on two retail developments totaling approximately 117,000 square feet of space in Douglasville and Milton. In Douglasville, The 81,000-square-foot Village at Chapel Hill, which is located at the intersection of Chapel Hill and Stuart Mill roads, will be anchored by a 45,000-square-foot LA Fitness. Atlanta-based CNNA Architects is providing the architectural services for the open-air development that is slated for completion in June 2009. Additionally, Easlan Capital is developing The Village at Webb Road located at the intersection of Webb Road and Alpharetta Highway/Highway 9 in the city of Milton. The 36,000-square-foot project, which will be anchored by a specialty grocer, will have 18,000 square feet of retail space for smaller shops and restaurants. Spaces at both of the developments range from 1,200 to 10,000 square feet in size. The Village at Webb Road is scheduled to open for the public in May 2009.

June 27, 2008

Office Southeast

STRATEGIC REAL ESTATE ADVISORS SELLS OFFICE FACILITY FOR $42.25 MILLION

by admin June 27, 2008

BOCA RATON, FLA. — On behalf of Strategic Real Estate Advisors, Falcon Real Estate Investment Co. has sold a 160,000-square-foot, Class A office building within Beacon Square Professional Campus located at 8051 Congress Ave. in Boca Raton, Fla. The four-story building was acquired by Coral Gables, Fla.-based Flagler Development for $42.25 million. Situated on 11.86 acres of land, the office is fully occupied by IBM. Manny de Zarraga, Danny Finkle and Hermen Rodriguez of Holliday Fenoglio Fowler represented Falcon Real Estate in the transaction; Flagler Development was represented in-house.

June 27, 2008

Multifamily Southeast

ARBOR COMMERCIAL FUNDING PROVIDES $11.86 MILLION LOAN

by admin June 27, 2008

MONTGOMERY, ALA. — Arbor Commercial Funding has provided $11.86 million in refinancing under Fannie Mae’s DUS program for Woodmere Apartments, which is a community situated on approximately 14 acres in Montgomery. Financing for the 200-unit facility was based on a 10-year term, with a 30-year amortization schedule at a rate of 6.08 percent. The loan also includes interest-only payments for the first 5 years. Ronen Abergel of Arbor Commercial Funding’s New York City office originated the loan.

June 27, 2008

Southeast

MCSHEA & CO. BROKERS 29,600-SQUARE-FOOT SALE

by admin June 27, 2008

ROCKVILLE, MD. — McShea & Co. has represented the Jewish Council For the Aging of Greater Washington Inc. in the acquisition of a facility located at 12320 Parklawn Dr. in Rockville. The 29,600-square-foot building will be the JCA’s new headquarters for operations. The facility will fulfill the transportation, homecare, housing and employment needs for older persons of all faiths. Andy Shulman and Bob Dickman of McShea & Co. brokered the transaction.

June 27, 2008

Multifamily Southeast

CUSHMAN & WAKEFIELD ARRANGES THREE APARTMENT SALES TOTALING $43 MILLION

by admin June 26, 2008

TAMPA AND BRANDON, FLA.; AND BILOXI, MISS. — Cushman & Wakefield’s Florida Apartment Brokerage Services has arranged the sale of three multifamily communities in the Southeast. The company has arranged the $21.13 million sale of two apartment communities in Tampa and Brandon to one buyer, Blackhawk Realty Advisors. Hidden Lake, which is located at 2701 W. Waters Ave. in Tampa, is a 199,860-square-foot facility featuring 267 one- and two-bedroom units. Amenities at Hidden Lake include two swimming pools, a racquetball court and a car-care center. Sun Lake, which is located at 1212 Askew Dr. in Brandon, is a 100,180-square-foot community featuring 88 one-, two- and three-bedroom apartments. The seller, Apartment Investment and Management Co., was represented by Byron Moger and Luis Elorza of Cushman &Wakefield. Additionally, on behalf of National Commercial Ventures, Moger and Elorza of Cushman & Wakefield have also arranged the $22 million sale of Oak Grove apartments located at 248 Debuys Rd. in Biloxi. The 274,568-square-foot community, which is situated 6 miles from Gulfport-Biloxi International Airport, includes 244 one-, two- and three-bedroom units. JL Real Ventures purchased the property that features a swimming pool, fitness center and covered parking.

June 26, 2008

Multifamily Southeast

307-UNIT POST ALEXANDER APARTMENTS IN BUCKHEAD COMPLETED

by admin June 26, 2008

ATLANTA — The 307-unit Post Alexander apartment community, located at 3410 Alexander Rd. NE in Buckhead, recently opened. The five-story 396,728-square-foot facility is situated atop a two-level, 530-space parking garage. Amenities at the community include two courtyards, a pool and a grill area. Atlanta-based Cooper Carry designed the project for Post Properties. Interior features of the one-, two- and three-bedroom apartments include granite countertops, stainless steel appliances and hardwoods in select units. The cost of completion was not disclosed.

June 26, 2008

Industrial Southeast

MORRIS SOUTHEAST GROUP/CORFAC INTERNATIONAL BROKERS $9.5 MILLION SALE

by admin June 26, 2008

NAPLES, FLA. — Morris Southeast Group/CORFAC International has arranged the sale of a 110,000-square-foot industrial manufacturing facility within the Creekside Business Park in Naples. Arthrex of Naples has acquired the building, which is located at 1250 Creekside Parkway West, from United Kingdom-based Hellermann Tyton Corp. for $9.5 million. Situated on a 6.3-acre site, the building is the largest industrial manufacturing facility in Naples. Ken Morris of Morris Southeast Group/CORFAC International and James Southey of United Kingdom-based King Sturge — CORFAC International’s European strategic alliance partner — brokered the transaction.

June 26, 2008

Industrial Southeast

NORTHMARQ ARRANGES $5.35 MILLION INDUSTRIAL LOAN

by admin June 26, 2008

BALTIMORE — Kenneth Gentzel of NorthMarq Capital’s Washington, D.C., office and Joseph Burke of the company’s Baltimore office have arranged $5.35 million in first mortgage financing for the acquisition of a 100,000-square-foot flex facility in Baltimore. Financing for the property, which is located at 5601 Metro Dr., was based on a 10-year term, with a 30-year amortization schedule. The loan was arranged by NorthMarq through its relationship with Woodmen of the World Life Insurance Society. The borrower was not disclosed.

June 26, 2008

Office Southeast

FIRST CAPITAL LEASES 16,000 SQUARE FEET IN BOCA VILLAGE CORPORATE CENTRE

by admin June 26, 2008

BOCA RATON, FLA. — First Capital has signed a lease for 16,000 square feet of office space at the Boca Village Corporate Centre located south of the Congress Avenue and Yamato Road intersection in Boca Raton. Boca Village Corporate Centre is the city’s first LEED-certified office facility. Green features include water reduction fixtures, reflective roof material to minimize heat exposure and the use of recyclable materials during construction. First Capital, which will occupy most of the 5th floor at the facility, was represented by Alice Lucia of Jones Lang LaSalle; Thomas Holtz of Butters Realty & Management represented the landlord in the transaction.

June 26, 2008

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