WILSON, N.C. — Newport News, Va.-based UVAA Hospitality has acquired an 80-room Best Western in Wilson from Wilson-based La Sammana Investment, for an undisclosed amount. Tom Sommer of the Mumford Company’s Chicago office represented the seller, and Justin Pinkard of Mumford’s Newport News, Va., office represented the buyer.
Southeast
ORLANDO, FLA. — Susan Ruby and Lee Morris of Cushman & Wakefield’s Orlando office have represented the landlord, Dividend Capital, in the lease of 148,287 square feet of warehouse space to Dal-Tile Corp, a subsidiary of Calhoun, Ga.-based Mohawk Industries. The warehouse is located at 1800 Cypress Lake Dr.
MIAMI— Bala-Cynwyd, Pa.-based Keystone Property Group and Coral Gables, Fla.-based Colliers Abood Wood Fay have acquired Dadeland Towers North, a 244,176-square-foot, three-building suburban campus-style office complex in Miami, from Boston-based Cabot Investment Properties, for $41 million. The complex is situated on 4.6 acres, west of Highway 1, and includes a 150,497-square foot, 8-story building; a 80,983-square foot, 7-story building; and a 12,696-square-foot, two-story building. Major tenants include Burger King; Independent Purchasing Corp.; City College; and Quintairos, McCumber, Prieto & Wood law firm. Christian Lee, Charles Foschini and Christopher Apone of CB Richard Ellis’ Miami-Downtown office represented the seller. The buyers were represented in-house.
SLIDELL, LA. — New Orleans-based Downtown Development Group and Calif.-based OceanView Development are planning Century Park, a $20 million, 62,000-square-foot Class A office and retail complex in Slidell. The project is situated on 2.4 acres along the Interstate 10 service road and Fremeaux Interchange at Highway 190. Construction of the LEED-certified buildings will begin this summer and be completed in three phases: Phase 1 features a 12,000-square-foot two-story office building, which will be completed this winter; Phase 2 includes a 14,000-square-foot one-story retail center featuring restaurants retail and banking; and Phase 3 features a 36,000-square-foot office building. New Orleans-based Steven J. Finegan Architects designed the project.
STATESBORO, GA. — Chattanooga, Tenn.-based CBL & Associates and Atlanta-based Ewing Southeast Realty are breaking ground on Statesboro Crossing, a 162,000-square-foot, 50-acre community center in Statesboro. The shopping center will be anchored by T.J. Maxx, Hobby Lobby, Books-A-Million and Petco, and also feature more than 38,000 square feet of specialty stores including Rack Room Shoes. The project is located at the southwest corner of Brannen Street Extension and Veteran’s Memorial Parkway, and is expected to deliver this fall.
ORANGEBURG, S.C. —Miller-Valentine Group’s Columbia office broke ground on a Class A, 150,000-square-foot industrial building in the Orangeburg County/City Industrial Park, located at the intersection of Interstate 26 and Highway 301. The facility is expandable up to 300,000 square feet and can accommodate distribution and manufacturing needs. Construction is expected to complete in August.
TUSCALOOSA, ALA. — Birmingham, Ala.-based Capital Growth Buchalter, a division of Capital Growth Properties, will develop Capital Market Center, a $20 million, 86,500-square-foot shopping center in Tuscaloosa. The property is situated on 20 acres at the corner of Highway 69 South and Southview Lane. The center will be anchored by a 46,500-square-foot Publix grocery store and an additional 40,000 square feet of retail shops, inclusive of eight outparcels. Construction is slated to begin this spring and be completed in three phases by year-end 2008. Birmingham-based Paul B. Krebs & Associates designed the project.
MYRTLE BEACH, S.C., AND ORLANDO, FLA — Coldwell Banker Commercial (CBC) has arranged two sales, totaling $9.5 million, in Myrtle Beach and Orlando. Gary Roberts of Myrtle Beach-based Chicora Real Estate, a CBC affiliate, negotiated the $4.2 million sale of 20 acres of land, located in the Withers Preserve mixed-use development, on behalf of the seller, Myrtle Beach Property Development. AWP Apartments, the buyer, an affiliate of Trammell Crow Residential, was represented in-house. The site is approved for the development of 200 luxury apartments. Also, Peoples First Community Bank acquired an office/retail property, located at 101 & 115 East Colonial Dr. in downtown Orlando, from GS Realty for $5.3 million. Jeff Tanner and Kim Brackett of CBC’s Maitland Fla., office were the sole brokers in the transaction.
LEXINGTON, N.C. — Boston-based Stag Capital Partners has acquired a 201,800-square-foot warehouse and distribution facility in Lexington from Lexington Associates and 800 East Washington LLC, for an undisclosed amount. The building is situated on 10 acres at 200 Woodside Dr., and is fully leased to Kimberly-Clark Corp. Ken Butler of NAI Avant and Dick Merritt of Merritt & Co. represented the seller. Michael Chase represented the buyer in-house.
What area is your expertise? • Columbia, S.C. What trends do you see presently in retail development in your area? • Currently, there are several active types of development: Wal-Mart and Target anchored community centers ranging from 200,000 to 300,000 square feet Unanchored retail strips from 6,000 to 20,000 square feet Auto dealerships relocated from in town to suburban locations Additional home improvement locations Bank locations Fast food locations What type of retail product is doing well in your area? • All retail seems to be quite strong at this point Who are the active retail developers in your area? • Active retail developers are Fletcher Bright, WRS, Edens & Avant, Kahn Development, and Owen Development. Please name one or two significant retail developments in your area. What impact will these projects have on the market? • Village at Sandhill is a 1 million-square-foot lifestyle center in Northeast Richland County. It is being developed by Kahn Development of Columbia. This project has introduced the lifestyle center to the region and created a retail anchor in Columbia’s fastest growing suburb. • The Shoppes at White Knoll is a 250,000 square foot development that was recently completed in the Redbank submarket. WRS …