Southeast

BOCA RATON, FLA. — Kapital Development dba CityClub Residences has announced plans to build a prototype of a new high-end senior living development located at 855 South Federal Highway, across from the Boca Raton Resort & Club, in Boca Raton. Residents at the 10-story, Mizner-inspired landmark building will have a 24/7 voice-to-voice emergency call system, 24/7 access to the Mayo Clinic for medical advice via a toll-free number and available examining rooms for visiting physicians. Floor plans for the 168 residences range from approximately 1,000 to 4,800 square feet of space, with prices from approximately $500,000 to $3.5 million penthouses. Amenities at the CityClub Residences include a day spa and salon, classrooms, restaurants, a theater, valet parking, Mercedes-Benz scheduled transportation, overnight guest suites and a cocktail lounge.

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CLEARWATER, FLA. — Sarasota, Fla.-based American Hotel Development Partners has been selected to build a $13.2 million, 106-room Staybridge Suites hotel at the St. Petersburg-Clearwater International Airport. Construction, which is expected to begin in August, is slated for completion in late 2009. The St. Petersburg-Clearwater International Airport is undergoing a $10 million renovation project, and has been awarded a $1.5 million grant from the Federal Aviation Administration for safety, security and the airport’s terminal renovation projects.

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WAKE FOREST, N.C. — Colliers Pinkard has arranged the sale of Heritage Village Apartments, a 228-unit multifamily community located within the 2,000-acre Heritage Wake Forest mixed-use development in Wake Forest. The newly constructed community was acquired by Weinstein Properties for $23 million, or approximately $109,000 per unit. The owner, Oakland Heritage Multifamily LLC, was represented by David Finger, Stephen Weiss, Philip Iglehart and Jay Wellschlager of Colliers Pinkard.

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SUFFOLK, VA. — Virginia Beach, Va.-based Landmark Hotel Group has acquired the 3-year-old Hilton Garden Inn Suffolk from Noble Investment Group. Landmark will continue to operate the hotel as a Hilton Garden Inn, and will also manage the Suffolk Conference Center, which is attached to the facility. The company plans to make significant upgrades to the property. The price of acquisition was not disclosed.

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COLUMBIA, MD. — Corporate Office Properties Trust has entered into a long-term lease agreement with Integral Systems Inc. for a 131,451-square-foot Class A office building within the Columbia Gateway Business Park in Columbia. The five-story facility, which is located at 6721 Columbia Gateway Dr., is slated for completion in early 2009. Integral Systems will use the facility as its new headquarters. The price of leasing was not disclosed.

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ATLANTA — Beverly Hill, Calif.-based ExchangePoint Properties has completed a tenant-in-common transaction for Cameron Brook Apartments, a 440-unit multifamily facility located at 4659 Dawson Blvd. in Atlanta. ExchangePoint, which acquired the property 5 months ago for $26.2 million, has sold the complex to 35 TIC investors for an undisclosed amount. A $3 million renovation program is planned for the property, which houses a variety of one-, two- and three-bedroom units.

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WESTMINSTER, MD. — Construction has begun on a 30,000-square-foot building within Carroll County Commerce Center, a 32-acre business community located at the intersection of Interstate 97 and Maryland Route 140 in Westminster. The single-story facility is slated for completion this fall, and will feature spaces starting at 2,100 square feet. Tenants within the larger 96,000-square-foot business park, which will be expanded to total approximately 200,000 square feet of office, warehouse and industrial space by the end of the project, already include the Carroll County Chamber of Commerce, the U.S. Department of Agriculture and Carleton Technologies. After completion of the latest phase, three additional buildings, including a two-story office project are planned. Robert Rosen, acting as owner and developer, has selected Townson, MD.-based NAI KLNB to handle leasing activities for the park.

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VIRGINIA BEACH, VA. — The Goodman Company has opened Landstown Commons, a 510,000-square-foot retail development located at Princess Anne and Dam Neck roads in Virginia Beach. Retailers at the center, which is 90 percent leased, include Kohl’s, Ross Dress For Less, Bed Bath & Beyond, PetsMart, Office Max and Best Buy. Approximately 38,000 square feet of office space has been constructed at the center, and is available for leasing.

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MIAMI — Erick Padilla of CB Richard Ellis has represented Los Angeles-based MICA LLC in the acquisition of 6,653 square feet of industrial space located at 10420 NW 37th Terrace within Cantel West Industrial Park in Miami. The facility was sold by Miami-based Hugo Jimenez for approximately $1.06 million. Cantel West houses 24 industrial properties totaling 180,000 square feet of Class A warehouse space. The seller was represented by Audley Bosch of Cushman & Wakefield.

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ATLANTA — Florida-based Website Pros Inc. has been represented by Jones Lang LaSalle in the subleasing of 45,000 square feet of office space located at 303 Peachtree Center Ave. within the SunTrust Garden Offices building in Atlanta. The space was leased by Portman Holdings LLC to house the firm’s management, accounting and architecture divisions. Website Pros has retained 27,000 square feet of space within the 650,000-square-foot facility.

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