MEDLEY, FLA. — PriceSmart has leased 127,000 square feet at Flagler Station in Medley. The company is relocating its distribution center from a smaller location within Flagler for a 40 percent increase in space. Walter Byrd, Ben Eisenberg and Thomas Kresse of Transwestern’s Miami office represented the lessee in the transaction, and the landlord was represented in-house.
COLUMBIA, MD. — Sleepy’s, a specialty mattress retailer, has leased 119,000 square feet at Gateway Commerce Center in Columbia, from RREEF. The property is located at 8700 Robert Fulton Dr. and is near the intersection of Route 175 and Interstate 95. Bob Smith and Brad Berzins of NAI KLNB represented the lessee, and the landlord was represented by Ed Harris and John Wilhide of CB Richard Ellis.
BRIDGETON, N.C. — Jupiter USA is developing Bridgeton Harbor, a 1,000-acre master-planned community in Bridgeton, located near New Bern, N.C., at the intersection of Highway 17 and State Road 55. The project will be comprised of the Shoppes at Bridgeton Harbor; Marketplace at Bridgeton Harbor; Town Center at Bridgeton Harbor; Lakes at Bridgeton Harbor; and Bridgeton Harbor Industrial Park. The community will feature 650,000 square feet of retail, commercial, office and medical space; 800 residences, inclusive of condominiums, townhomes and single-family units; a 15,000-square-foot yacht club with a 129-slip marina; more than 600 hotel rooms; and 2.5 million square feet of industrial space. Construction began last June. The marina is slated to deliver in June, and the yacht club, along with 18 adjacent condominiums, is expected to start construction before year-end.
GREENSBORO AND DURHAM, N.C. — Tom Goodsite of Prudential Mortgage Capital’s Atlanta office originated two fixed-rate, 5-year interest-only loans, totaling $115.7 million, on behalf of CBL & Associates, for the Starmount portfolio in Greensboro and Renaissance Center Phase II in Durham. The Starmount portfolio secured $100 million in financing. The portfolio consists of Friendly Center, a 1-million-square-foot regional shopping mall, and six surrounding suburban office/bank buildings. The mall is anchored by Macy’s, Belk, Sears, Grande Cinema and Barnes & Noble. Renaissance Center Phase II secured $15.7 million in financing. The property is a 150,200-square-foot shopping center anchored by Best Buy, Babies R’ Us and Old Navy, in addition to specialty shops, restaurants and second-floor office space.
HUNTSVILLE, ALA. — Starwood Hotels & Resorts Worldwide has opened Westin Huntsville, an 11-story, 284-unit property at Bridge Street Town Centre, a 550,000-square-foot mixed-use lifestyle center in Huntsville. The hotel features 210 guestrooms, 74 residential condominiums, a 7,900-square-foot ballroom, a boardroom, a restaurant, a full-service spa, a pool, a fitness center and a business center.
LEESBURG, VA. — Washington Real Estate Investment Trust has entered into an agreement to acquire Lansdowne Medical Office Building, a five-story, 85,300-square-foot development in Leesburg, located across the street from Inova Loudoun Hospital at the intersection of Riverside Parkway and Lansdowne Boulevard. Washington will purchase the property upon completion of the base building, which is expected to deliver in the first quarter of next year.
SATELLITE BEACH, FLA. — Mr. Sunil Khiyani and Skyview Plaza have acquired a 32,750-square-foot retail center in Satellite Beach, from Garrett Co. and Trigen Co., for $3.5 million. The property is located at 202-254 Highway A1A. Ronnie Issenberg of Marcus & Millichap’s Miami office was the sole broker in the transaction.
WASHINGTON, D.C. — Ireland-based Vico Capital has purchased 2099 Pennsylvania Avenue, a 199,000-square-foot Class A office building in Washington, D.C., from Germany-based Wealth Management Capital Holding GmbH, for $172.5 million. The property is located in Washington, D.C.’s central business district and is in close proximity to the White House. The office building was 100 percent leased at the time of sale to Holland and Knight, a global law firm; Perseus, a merchant bank and private equity fund management company; and Danaher Corp., a Fortune 500 company that invests in and acquires technology and manufacturing companies. John Kevill and Collins Ege of Jones Lang LaSalle’s Washington, D.C., office represented the seller in the transaction, and the buyer was represented in-house.
ORLANDO, FLA. — Taurus Industrial Development, a subsidiary of Boston-based Taurus Investment Holdings, is building a 942,000-square-foot, 74-acre Class A master-planned industrial park in Orlando, located east of Orlando International Airport along State Road 417. The first phase will include a 378,000-square-foot cross-dock facility and two rear-load buildings featuring 141,000 and 145,000 square feet, respectively. The project was financed by Bank of America.
CHARLESTON, S.C. — Lauth is developing two Class A bulk distribution buildings at North Pointe Industrial Park in Charleston, located 4 miles from the Port of Charleston and 5 miles from Interstate 26 and I-526. Construction of the 390,180-square-foot North Pointe Building Four will commence in June, with initial occupancy projected for the first quarter. Construction of North Pointe Building Five, which will feature 399,732 square feet, is slated to begin after Building Four is completed. Hagood Morrison, Peter Fennelly and Simons Johnson of Colliers Keenan are marketing the property.