GLEN ARM, MD. — MCF Capital has purchased a 200,000-square-foot, 20-acre warehouse/office property in Glen Arm’s Long Green Valley, from United Container, for $4 million. The building is located in the Long Green Valley at 5200 Glen Arm Rd., north of the Cromwell Bridge Road/Interstate 695 interchange. David Paulson and Vince Brocato of Manekin represented the seller in a direct transaction with MCF Capital. The new owners will renovate and subdivide the property for a multi-tenant occupancy.
BETHESDA, MD. — Bob Donhauser, Bill Asbill and Cary Abod of Holliday Fenoglio Fowler’s (HFF) Washington, D.C. office have secured an $80 million loan for Rockwall I and II, two Class A office buildings totaling 345,885 square feet in Bethesda, on behalf of Chevy Chase, Md.-based The JBG Companies. The fixed-rate, 5-year loan was obtained through HFF’s relationship with ING Real Estate. The properties are currently 89 percent leased, with The Food and Drug Administration occupying 40 percent of the space. The buildings are located at 11400 Rockville Pike and 5515 Security Lane.
DURHAM, N.C. — Phillips Development & Realty has purchased 44 acres in Durham for the future development of Phillips Research Park, a $30 million, 344-unit garden-style community, from two individual sellers, for a total of $3.8 million. Jovan Group sold 42 acres, and Wood Partners sold 2 acres. The three-story, Class A apartment community will feature one-, two- and three-bedroom units, ranging from 778 to 1,188 square feet. Amenities will include a 5,200-square-foot clubroom featuring a library, media room, business center, fitness room and resort-style pool. A land tract of 20 acres will be preserved for jogging and biking. Construction is slated to begin in the fall and complete in first quarter 2010. The property is located at 1561 Ellis Rd., in close proximity to the Research Triangle Park and Highway 147. Tampa, Fla.-based Chancey Design Partnership is the project architect.
SANFORD, N.C. — Asheville, N.C.-based Jala Inc. has acquired an 86-room, 42,000-square-foot Hampton Inn in Sanford, from Inn Keeper Inc., for $7.5 million. The three-story hotel features a meeting room, outdoor pool and fitness center. Anthony Falor of Atlanta-based Hodges Ward Elliott was the sole broker and exclusively represented the seller. After renovations, the property will continue its affiliation with the Hampton Inn brand.
OCEAN CITY, MD. — The Buccini/Pollin Group has opened Rivendell Condominiums, a $60 million, 300,000-square-foot luxury multifamily complex in Ocean City, located on Assawoman Bay between 80th and 81st streets. The community features 88 units, and amenities include an ocean-view courtyard, fitness center and indoor and outdoor pools. Construction began in April 2006 and completed last month.
PORT ORANGE, FLA. — Prime Equities has purchased Port Orange Gateway Center, a 14,094-square-foot shopping center in Port Orange, from Port Orange Gateway Center, Inc., for $3.8 million. The center is 100 percent occupied, and tenants include Panera Bread, Cingular Wireless and Tropical Smoothie. Kevin Yaryan and Patrick Skinner of Marcus & Millichap’s Orlando, Fla., office represented the buyer and the seller. The property is located at 1781 Dunlawton Ave.
PRINCE WILLIAM COUNTY, VA. — Regency Centers is developing The Shops at Stonewall, a $52 million, 318,000-square-foot retail center in Prince William County, located at the intersection of Lee Highway and Old Carolina Road. The center is situated on 40 acres and will be anchored by a 140,000-square-foot Wegman’s supermarket, slated to open this fall. Other tenants include Staples, Ross Dress For Less, Bed Bath & Beyond and Suntrust Bank. Construction began last May and is projected to complete this summer.
POINCIANA, FLA. — South Florida-based Southeast Shopping Centers Development is building Solivita Marketplace, a 60-acre mixed-use project in Poinciana. The first phase is situated on 6.6 acres and includes five buildings totaling 41,000 square feet. First phase tenants include Revelations 21 Jewelry, Martin’s BBQ of Orlando, Quizno’s Subs, Gigi’s Beauty Salon and Poinciana Dry Cleaners. Walgreens, Wachovia Bank and Fifth/Third Bank occupy freestanding buildings. The project is located at the intersection of Cypress Parkway and Marigold Avenue.
ARLINGTON AND ROSSLYN, VA. —Donohoe Construction worked as the general contractor on two multifamily projects recently completed in the Washington, D.C. area. In Arlington, Houston-based Camden developed Camden Potomac Yard, a $66 million, 396,000-square-foot apartment building. The project is comprised of 378 units and 12 stories, with an additional 190,400-square-foot parking garage. Amenities include a rooftop pool and spa with adjoining party room and theatre, a fitness room, a public conference room and an internet café. Washington, D.C.-based WDG Architecture was the project architect. Construction began in April 2005 and completed this March. In Rosslyn, Rockville, Md.-based Washington Real Estate Investment Trust developed Bennett Park Apartments, a $64 million, two-building complex. The high-rise building is located at 1601 Clarendon Blvd. and features 224,000 square feet, 15 stories, 178 units and an 110,700-square-foot parking garage. The mid-rise building is located at 1600 Wilson Blvd. and features 62,900 square feet, 9 stories, 46 units and a 29,500-square-foot parking garage. Shared amenities include a fitness room, club/community room and a billiards room. Additionally, the mid-rise features 5,000 square feet of ground-floor retail. Bethesda, Md.-based Architects Collaborative was the project architect. Construction began in August 2004 and completed this March.
NEW ORLEANS — Bill Matone of NorthMarq Capital’s Charlotte, N.C., office has negotiated a $13 million loan for the 400-unit Wind Run Apartments in New Orleans. Financing was based on a 10-year term with a 30-year amortization schedule. NorthMarq arranged the financing through its relationship with Freddie Mac.