FORT MYERS, FLA. — Fort Myers-based GCM Contracting Solutions has completed construction for Phase I of the Alico Business Park located on Lee Road in Fort Myers. Four building were constructed in the first phase, with three more being developed in subsequent phases. The seven-building community will total 130,800 square feet of space suitable for office, warehouse or industrial use. Each unit, which ranges from 1,500 to 20,000 square feet in size, has a minimum of four parking spaces with more than 300 spaces available for customer parking. Architect Richard E. Ditter designed the building; Greg Coleman served as the project manager.
MIAMI — TIAA-CREF is developing Kendall Town & Country Center, a 643,692-square-foot retail development located at 8505 Mills Dr. in Miami. Construction of the open-air center, which sits on a 72-acre, 5-pad site, is scheduled to begin this summer, with completion slated for summer 2009. Kendall Town & Country Center will feature a 289,580-square-foot open-air lifestyle center, as well as a 465,026-square-foot town center featuring entertainment, restaurants and specialty retail stores. Mike Longmore, Sig Arnesen, Chris Rehmet, Karen Sanzo and Cindy Stasie of Jones Lang LaSalle’s open-air retail team will be in charge of leasing the facility.
ATLANTA — Washington, D.C.-based Perseus Realty Partners, in conjunction with Atlanta-based Hathaway Properties, has plans to develop Ansley at Princeton Lakes, a multifamily community located in Atlanta. Perseus Realty Partners II LP, a diversified middle-market real estate investment fund, has made an equity investment of approximately $4.6 million for the development of this 306-unit Class A apartment community. Hathaway Properties will act as general contractor for the project, which has a total capitalization of approximately $29.7 million. The garden-style property will be located approximately 3 miles from Atlanta Hartsfield International Airport.
SAVANNAH, GA. — Carlson Hotels Worldwide has opened the brand’s 450th hotel, The County Inn & Suites by Carlson in Savannah. The 101-room Country Inn & Suites by Carlson in Savannah, which is owned by Tara of Savannah LLC, includes an indoor pool, a fitness center and a meeting room with a 70-person capacity. Other new openings include the 70-room Country Inn & Suites in Petersburg, Va., owned by Vraj Enterprise LLC, and the 60-room Country Inn & Suites in Tallahassee, Fla., owned by Avanti Hospitality. The Carlson hotel brands also include Regent Hotels & Resorts and Park Plaza Hotels & Resorts.
FORT MYERS, FLA. — Construction is underway for Southwest Florida Addiction Services, a detox and counseling center for patient with alcohol and drug dependency located at 3763 Evans Ave. in Fort Myers. Fort Myers-based Westcoast Structural Concrete Masonry has been retained to provide the concrete floors, sidewalks, dumpster enclosure and generator enclosure for the 38,000-square-foot building. Owen-Ames-Kimball is the general contractor for the project, which is slated for completion in August.
BOCA RATON, FLA.; DENHAM SPRINGS, LA.; AND ATLANTA — Wells Fargo has provided $73.6 million in non-recourse financing for four properties in Florida, Louisiana and Georgia. In Boca Raton, Wells Fargo has provided a $44.5 million, 5-year loan for Mission Bay Plaza, a 272,886-square-foot retail center located at the intersection of Glades Road and U.S. 441/State Road 7. The center houses 49 tenants including LA Fitness, Toys “R” Us, Albertsons and Office Max. Michael Strober of CB Richard Ellis Melody in Tampa, Fla., was the mortgage broker for the transaction. Also in Boca, Wells Fargo has provided $8.2 million in financing for South Congress Warehouses, a 50-tenant property totaling 118,800 square feet of industrial space within the 850-acre Arvida Park of Commerce. Fred Welker in the Miami office of Holliday Fenoglio Fowler brokered the transaction. Additionally, $11.9 million in financing was provided by Wells Fargo for Spring Park Plaza, an anchored retail center in Denham Springs. Tenants within the 137,574-square-foot development include Petco, Office Depot, Wells Fargo, Rite Aid Corporation and Radio Shack. Neil Efron of BankAtlantic in Fort Lauderdale brokered the five-year loan. In Atlanta, a 10-year, $9 million loan was provided by Wells Fargo for the unanchored retail …
WILLIAMSBURG, VA. — S.L. Nusbaum Realty Co. has begun construction of Quarterpath Crossing Shopping Center, an 85,610-square-foot retail center located at the intersection of Quarterpath Road and Route 199 in Williamsburg. The development, which is situated on 14.88 acres of land that was acquired from the Colonial Williamsburg Foundation, will be anchored by a 52,610-square-foot Harris Teeter food market. Additionally, 21 small stores will be available for lease. Harris Teeter’s grand opening is scheduled for the summer of 2009. Raleigh, N.C.-based Ashland Construction Co. is the general contractor for the project; Williamsburg-based Jack L. Massie Contractor will act as site contractor for the shopping center and will construct Quarterpath Road.
TUSCALOOSA, ALA.; AND KNOXVILLE, TENN. — New York City-based Meridian Capital Group has arranged $22.3 million in financing for two apartment communities in Tuscaloosa and Knoxville. In Tuscaloosa, Meridian has brokered $10.8 million in financing for 5050 Cypress Creek Avenue East, a 15-building community housing 220 units. The borrower, Sealy Realty, secured a rate of 5.5 percent over a 7-year term mortgage with 2 years of interest-only payments. Max Beyderman and David Cohen of Meridian’s New Jersey office negotiated the loan on behalf of the borrower. Additionally Israel Schubert and David Cohen of Meridian’s New Jersey office have arranged $11.5 million in financing for Country Oaks Apartments, a 31-building 350-unit apartment community located in Knoxville. The borrower, The Embassy Group, has secured a rate of 5.45 percent over a 7-year term mortgage.
APOPKA, FLA. — Orlando, Fla.-based HuntonBrady Architects has completed construction of a new dormitory for Forest Lake Academy, a Seventh-day Adventist boarding school, located at 3909 East Semoran Blvd. in Apopka, Fla. The 35,000-square-foot renovation and addition includes a three-story dormitory building with rooms for 120 students, a chapel, and private apartments for the boys’ and girls’ deans. The cost of construction was not disclosed.
SAVANNAH, GA. — Sarasota, Fla.-based American Hotel Development Partners has broken ground on a Holiday Inn Express Inn & Suites located at 11325 Abercorn St. in Savannah. The 88-room facility, which is being constructed near Armstrong Atlantic State University and Hunter Army Airfield, will cost $9 million to complete. Upon completion in the first quarter of 2009, the Holiday Inn Express Savannah will be managed and operated by Harris Hotel Group.