PALM BEACH GARDENS, FLA. — Lake Worth, Fla.-based D&C Properties has purchased 39,916 square feet of industrial space for its headquarters at Gardens Commerce Center in Palm Beach Gardens, from West Palm Beach, Fla.-based Riverside Development, for $9 million. The property is situated on 2 acres. Jeff Kelly and Robert Smith of CB Richard Ellis’ Boca Raton, Fla., office were the sole brokers in the transaction and exclusively represented the buyer.
COLUMBIA, S.C. — GE Real Estate has provided a $30 million loan to Campus Acquisitions for the purchase of two garden-style student housing communities in Columbia and Texas. Sterling by the River is a 173-unit, 8-acre complex in Columbia, located at 500 Alexander Rd. The property consists of 11 two- and three-story buildings. Amenities include an internet caf, swimming pool and fitness center. The loan was originated by James Tramuto, Thomas Scott and Brian Neiswender of CBRE | Melody.
FORT LAUDERDALE, FLA. — Stiles Corp. and Fort Lauderdale-based WLD Enterprises are developing Lake Shore Plaza II, a $25 million, 130,000-square-foot office building in Fort Lauderdale, located at 1300 Concord Terrace in Sawgrass International Corporate Park. The five-story building will be LEED-certified. Construction began last April and is expected to complete in May. Stiles Construction Co. is the general contractor.
ALPHARETTA, GA. — Crescent Resources, in partnership with Dallas-based Cobalt Capital Partners, is developing Shiloh 400 Business Center, a $20 million, 240,000-square foot business park in Alpharetta, located near the Georgia 400 and McFarland Road interchange. The project will consist of three 80,000-square-foot buildings situated on an 18-acre campus. Construction is slated for completion in the fall. Wakefield Beasley & Associates is the project architect, and the general contractor is The Conlan Co.
GREENVILLE, S.C. —Schwarz & Schwarz has acquired two warehouses in Greenville, totaling 240,000 square feet, from Greenville-based T. Walter Brashier & Associates, for $6.6 million. Caterpillar has leased the 160,000-square-foot warehouse located along Old Laurens Road, and Human Technologies has leased the 80,000-square-foot warehouse located along Welcome Road. Ford Borders and Grice Hunt of Greenville-based NAI Earle Furman and John Scott of Greenville-based Grubb & Ellis | The Furman Co. were the sole brokers in the transaction and exclusively represented the seller.
PENSACOLA, FLA. — The U.S. Naval Facilities Engineering Command, Southeast, is developing a 150,000-square-foot, 16-acre U.S. Air Force training facility at Naval Air Station Pensacola. The project will include a 100,000-square-foot hanger, 75,000 square feet of hanger space, 25,000 square feet of maintenance space, 24 aircraft sun shelters and a 50,000-square-foot, single-story navigator training facility. The facility will break ground mid-summer and is slated for completion next November. Atlanta-based Opus South and Pensacola-based Whitesell-Green will design and construct the project. Pensacola-based Bullock Tice Associates is the lead project designer.
RIVIERA BEACH, FLA. — Palm Beach Gardens, Fla.-based OMRD is redeveloping Ocean Mall into a $50 million mixed-use development on Singer Island in Riviera Beach. The project will be completed in three phases. Phase 1 will consist of three one-story and one two-story buildings, including several casual restaurants; Phase 2 will include a five-story hotel; and Phase 3 will redevelop the dry sand areas east of Ocean Avenue into tennis/volleyball courts, playgrounds and additional amenities. The Key West and Caribbean-themed development is situated on 10.5 acres and will begin construction this summer. Catafulmo Construction is the general contractor, and Richard Jones Architecture is designing the project.
COLUMBIA, MD. — Columbia-based Oekos Management Corp. has acquired Rivers Corporate Center, a 280,000-square-foot, nine-building business park in Columbia, from Rivers Center, a group of Howard County, Md.-based investors, for $44 million. The office/research and development buildings are located along Guilford and Old Columbia roads, near the intersection of Route 32 and Route 29, and were 93 percent leased at the time of sale. Tenants include United Healthcare, Applied Data Systems, Staples and St. Agnes Healthcare. Don Schline and Liz Martin of Manekin’s Columbia office were the sole brokers in the sales transaction. Manekin will also serve as leasing agent.
VIRGINIA BEACH, VA. — Pembroke Associates No. 3 is developing Corporate Center VI, a 60,000-square-foot, three-story Class A office building in the central business district of Virginia Beach. The project is located adjacent to Thalia Creek on a 6-acre land parcel. Construction is scheduled for completion in August. Southern Trust Mortgage has leased 14,819 square feet of office space.
BRUNSWICK, GA. — Liberty Harbor LLC has begun vertical construction on Liberty Harbor, a $2 billion, 155-acre waterfront development in Brunswick. The project will feature 2,400 residences, 300 home sites, a 450-wet slip marina, a boardwalk and a yacht club.