BREVARD, N.C. — Charter One Hotels has purchased a 63-room Holiday Inn Express Hotel & Suites in Brevard, from KSS Holdings, for $4.4 million. Atlanta-based Hodges Ward Elliott brokered the transaction on behalf of the seller. The property will undergo renovations and continue its affiliation with Holiday Inn Express.
MIAMI — Bilzin Sumberg Baena Price & Axelrod LLP has signed an 115,000-square-foot, 10-year lease at Brickell Financial Centre, a 1.5-million-square-foot LEED-certified office, hotel and retail project in downtown Miami. The new office will expand Bilzin Sumberg’s space by 30,000 square feet. Danet Linares of Miami-based Foram Group represented the landlord, and the tenant was represented by Barbara Liberatore Black and Matthew Goodman of CRESA Partners’ Miami office.
ATLANTA — Ponce Park, the $375 million, 2-million-square-foot redevelopment of Atlanta’s City Hall East/Sears building, will feature The Medici Center. Residents will be comprised of scholars, researchers and artists that will address the four academies of Health and Science, Sustainability and the Environment, Globalism and Cultural Understanding and the Arts and Humanities. The project is being developed by Lawrenceville, Ga.-based The Morsberger Group and Adams & Co. and will also include 182,000 square feet of retail, 154,000 square feet of office space and 1,100 residential units, in addition to 40 units for the physically disabled. Construction is slated to begin in second or third quarter 2009, and initial occupany is scheduled for 2011.
CONCORD, N.C. — Orlando, Fla.-based Cuhaci & Peterson is designing a 62,000-square-foot addition at Christenbury Corners in Concord. The project is being developed by Safety Harbor, Fla.-based Paradise Development and includes a 38,000-square-foot Bloom grocery store and 24,000 square feet of retail shops.
ST. AUGUSTINE, FLA. — Weingarten Realty and St. Augustine Retail Holdings are developing Epic Village at St. Augustine, a 23-acre theatre-anchored shopping center, adjacent to St. Augustine Market. The project will feature a 16-screen Epic Theatre and 17,896 square feet of retail space with four outparcels. Construction is slated to begin this month and complete in spring 2009.
SMYRNA, GA. —Panattoni Development has acquired a 103,000-square-foot business/distribution facility at the Highlands Ridge Business Park in Smyrna, from California-based Kelley Capital, for an undisclosed amount. National Services Industries will continue to occupy the property, which is located at 1325 Highland Ridge. Bob Burdell of Atlanta-based NAI Brannen Goddard represented the buyer in the transaction.
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.
