CHARLOTTE, N.C. — CB Richard Ellis Investors has acquired a joint venture interest with partner Childress Klein in 13 buildings, totaling 236,497 square feet, at the Rivergate Shopping Center, a 543,282-square-foot lifestyle/community center in Charlotte. The shopping center is 94 percent leased. Tenants include Best Buy, OfficeMax, Marshalls, Books-A-Million, PetSmart, and anchors The Home Depot and Target.
Southeast
PORT ORANGE, FLA. — Chattanooga, Tenn.-based CBL & Associates and The Benchmark Group are developing The Pavilion at Port Orange, a 550,000-square-foot open-air shopping center, located in the northwest corner of Interstate 95 and Taylor Rd. The center will be anchored by Belk, Barnes & Noble, Circuit City, HomeGoods/Marshalls Megastore, Michaels and a 14-screen Hollywood Theater. The project is expected to deliver in fall 2009.
SANFORD, FLA. — Matthew McKeever and Mike Davis of Cushman & Wakefield represented the seller, Reflections at Hidden Lake LLC, in the sale of the Reflections at Hidden Lake, a 96,000-square-foot office complex in Sanford, for $9 million. The property includes a 60,000-square-foot, three-story building and an adjacent 36,000-square-foot single-story building. The complex is located on Lake Mary Blvd. across from the Seminole Community College, and was 98 percent leased at closing.
BOYNTON BEACH, FLA. — Tal Frydman of Marcus & Millichap’s Fort Lauderdale, Fla. office has represented Barbara Bodzo in the $4.2 million sale of High Ridge Apartments in Boynton Beach. 2861 South Seacrest Blvd LLC purchased the 64-unit, 8-building property.
BALTIMORE, MD. — Baltimore-based Sheppard Pratt Health System has acquired Beth Tfiloh’s lower school and preschool campus in Baltimore for an undisclosed price. The campus includes two school buildings, a dining hall, multi-purpose building, athletic fields, playground and 13 cabins. Bob Millhauser, David Baird and Richard Thomas of Cushman & Wakefield’s Baltimore office represented seller Beth Tfiloh Glyndon LLC, and the buyer was represented in-house. Beth Tfiloh will relocate to a 56,000-square-foot complex in Pikesville for the 2009 – 2010 school year. Sheppard Pratt will convert the property to one of its Forbush Schools, which specializes in therapeutic services and special education for children.
POMPANO BEACH, FLA. — Boca Raton, Fla.-based Ocean Land will build a 6-acre oceanfront resort property in Pompano Beach. The project, located at 1350 South Ocean Blvd., includes a 10-story, 257-room Hilton Hotel located on the east side of State Road A1A. The four-star property will feature 4,250 square feet of oceanfront restaurants and a lounge with a covered terrace, 5,000 square feet of meeting space and a 6,500-square-foot ballroom. The hotel will break ground in mid-2008, with a 20-month construction window. Nick Luaces Design will serve as interior designer. The west parcel of the development, fronting the Intracoastal Waterway, will feature a 28-slip marina and 317-room hotel. The un-flagged hotel will be located above a four-story parking podium and feature a 5,500-square-foot ballroom and 2,500 square feet of meeting space.
ORLANDO, FLA. — Indianapolis-based Premier Properties is developing The Current at Lee Vista, a 800,000-square-foot mixed-use, open-air retail center in Orlando. Located on State Rd. 436 between Lee Vista Blvd. and Hazeltine National Dr., the 85-acre project is being designed by Coral Gables, Fla.-based Beame Architectural Partnership. Deerfield, Fla.-based Sikon Construction is the general contractor. The development is slated for completion in spring 2009.
LOGANVILLE, GA. — Faison Enterprises’ Atlanta office has acquired 37 acres in Loganville from David and Alice Still for the development of North Logan Commons, a 370,000-square-foot power center along Highway 78. Anchor tenants include Lowe’s Home Improvement Warehouse, Best Buy, Dick’s Sporting Goods, PetsMart and OfficeMax. The project is expected to open in spring 2009. Faison is also planning South Logan Commons, a 350,000-square-foot power center situated 41 acres from North Logan Commons, which is slated for completion in 2010.
TAMPA, FLA. — Crescent Resources is building Corporate Center Four at International Plaza, an eight-story, 247,000-square-foot Class A office facility in Tampa. The LEED-certified building is located at Boy Scout Blvd. and Lois Ave. and will open in fall 2008.
DELRAY BEACH, FLA. — Cincinnati-based The JFP Group and Todd Trisch are redeveloping The SeaHorse, a historic co-op apartment building in Delray, for $90 million. The renovated three-story building will feature 42 two- to four-bedroom condominium units, ranging from 1,600 to 3,750 square feet. The building’s architecture will mirror the British West Indian style. LaSalle Bank and Mercantile Bank are financing the project, which is slated for completion in late 2009.