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.
VIRGINIA BEACH, VA. —Steven D. Bell & Co. has acquired Haygood Shopping Center, a 178,526-square-foot property in Virginia Beach, from Haygood SC, a partnership of Klaff Realty and Acadia Realty Trust, for $25 million. The retail center is located at 1021 Independence Blvd. and is anchored by Farm Fresh, Rite Aid and Michaels. Michael Divaris, Alex Divaris and Jason Oliver of Virginia Beach, Va.-based Divaris Real Estate were the sole brokers in the transaction.
COCONUT CREEK, FLA. — Regency Centers is developing Caligo Crossing, a 113,510-square-foot, 11-acre shopping center in Coconut Creek, located at the intersection of Highway 441 and Hillsboro Road. The center will include a Kohl’s, slated to open in October, and 10,800 square feet of additional retail shop space.
MIAMI — Sky Development and SunVest Communities have partnered to form SkyVest Capital, a $300 million real estate fund that will capitalize on economic, financial and property market dislocation presented by the recent downturn in the U.S. real estate market. The joint venture will primarily target Florida, Nevada and Arizona, as well as North and South Carolina, California, Texas and New York. The fund will invest in distressed residential, commercial and retail projects, both directly and via the acquisition of debt.
JOHNS CREEK, GA. — Trammell Crow Co., in a joint venture with MetLife, is developing Woodlands Park, an 18-acre multi-phase medical campus in Johns Creek. Phase 1, Woodlands Park Medical Arts I, consists of a 100,000-square-foot, four-story medical office building, located at 6375 Hospital Parkway, which borders the Emory Johns Creek Hospital campus. Phase 2 will also be four stories and 100,000 square feet. The project architect is Wakefield Beasley, and the general contractor is Brasfield & Gorie. Construction began on Phase 1 in March and is expected to complete in January.