WASHINGTON, D.C. — Detroit-based MayfieldGentry Realty Advisors has acquired 1522 K Street N.W., an 81,094-square-foot, 11-story office building in Washington, D.C., from Intrepid K Street, for an undisclosed amount. The Class B property was 89 percent occupied by 30 tenants at the time of sale, including: Atelier Architects, the National Sleep Foundation and R.E. Bushnell & Law Firm. Steven Gichner and Eric Berkman of Grubb & Ellis’ Washington D.C. office represented the seller. The property is located three blocks from the White House and is adjacent to the St. Regis Washington, D.C. hotel. The new owner plans to renovate the property to achieve Class A status.
HAMPTON ROADS, VA. — The Department of Defense (DoD) will build Homeport Hampton Roads, a six-story, 755-unit naval enlisted housing structure in Hampton Roads. The multifamily community will feature indoor and outdoor swimming pools, a community center, a softball field, two tennis courts, a volleyball court and two half basketball courts. Construction began early this year and is projected to complete in 26 months. Tompkins Builders, a subsidiary of Turner Construction Co., is the general contractor. The developer is Hunt Building Co., and the project architect is Lessard Group. DoD is also building military housing in San Diego.
ATLANTA — Manhattan Peachtree Properties has acquired Paces Ferry Center, a 20,930-square-foot infill strip center in Atlanta, from Paces Properties, for $8.4 million. Tenants include Willy’s Mexicana Restaurant, Hair Cuttery, Planet Smoothie, Einstein Bros. Bagels, Wolf Camera and FedEx Kinko's. Jim Hamilton, Whitney Knoll and Kevin Hurley of Staubach’s Atlanta office were the sole brokers in the transaction and exclusively represented the seller.
MIAMI — Boston-based Eaton Vance has acquired One Riverview Square, a 147,895-square-foot, eight-story office building in Miami, from Rubicon America Trust, for $49.6 million. The Class A property is 100 % leased to the United States Government GSA Immigration and Customs Enforcement and the Social Security Administration. Tom Holtz, Steve Buss and Ryan Watts of CB Richard Ellis’ Minneapolis office, as well as Christian Lee, Charles Foschini and Christopher Apone of its Miami office were the sole brokers in the transaction and exclusively represented the seller. The building is located on the north side of the Miami River, in close proximity to Interstate 95.
PALM BEACH GARDENS, FLA. — The Related Companies and Crocker Partners will open CityPlace Tower, a $110 million, 300,000-square-foot office building in Palm Beach Gardens, this month. The property features 18 stories and is located at the south entrance of CityPlace, a 72-acre mixed-use development, on the northwest corner of Okeechobee and South Quadrille boulevards. Tenants include INTECH, Carlton Fields, P.A., The ComVest Group, Shutts & Bowen, JB Hanauer & Co. and Goodrich. The ground floor will feature a Regions Bank with drive-through teller and Clevelands Clinic’s Health and Wellness Center. Boston-based Elkus/Manfredi Architects was the project architect.
DULUTH, GA. — Atlanta-based The NorthPoint Group is developing Point Berkeley III, a $22 million, 210,000-square-foot office and retail complex in Duluth, located along North Berkeley Road. The project will be comprised of two retail buildings featuring two stories and 35,000 square feet and an office building featuring seven stories and 140,000 square feet. Construction began in April and is slated to complete next May. Duluth-based Ordner Construction Co. is the general contractor, and the project architect is Atlanta-based Group Six Design. Point Berkeley I and II are adjacent to the new development.
WEST PALM BEACH, FLA. — The Anspach Effort, Inc. has built a $7.5 million, 50,000-square-foot facility adjacent to its headquarters in West Palm Beach. The three-story building includes a multi-laboratory complex, lecture hall and medical training areas. Construction began in October 2006. Anspach manufactures high-speed instrumentation for specialized surgical applications. Catalfumo Construction was the general contractor.
JACKSONVILLE, FLA. — The Jacksonville Airport Microtel, a 77-room, three-story property owned by JAX Lodging and principals Gregory and Kim Spatz of Pompano Beach, Fla., has opened at 13200 International Airport Blvd. The hotel features Microtel’s new prototype design and includes single, double and suite accommodations. Amenities include a fitness center, business center, swimming pool and meeting room. The general contractor was United States Construction Corp., and the property will be managed by SKY Hospitality of Palm Harbor, Fla.
CUMMING, GA. — Cousins Properties will open the first phase of The Avenue Forsyth, a $146 million, 527,000-square-foot mixed-use development in Cumming, next month. The project began construction on the first of two phases last January, which features 463,000 square feet and includes 64,000 square feet of office space. The development is comprised of more than 50 tenants, including: Aeropostale, Barnes & Noble, AMC Avenue Forsyth 12, DSW Shoe Warehouse, Ann Taylor Loft, Circuit City, CVS/Pharmacy, Ted’s Montana Grill, Natural Body Spa & Shop and Origins. Signed tenants and retailer commitments bring the first phase to 70 percent occupancy. Cousins also owns 39 acres adjacent to the property, which is planned for future expansion of the project. The project is located at the intersection of Georgia 400 and Peachtree Parkway.
CHARLOTTE, N.C. — Sterling Organization has acquired East Town Market, a 182,771-square-foot shopping center in Charlotte, from BVB Properties, for $14 million. The property is anchored by a 45,053-square-foot Compare Foods grocery store. Steve Slattery of Charlotte-based SMS Real Estate Investment Svcs. was the sole broker in the transaction and exclusively represented the buyer. The shopping center is located at the intersection of W.T. Harris Boulevard and N. Sharon Amity and Milton roads.