CLERMONT, FLA. — Weingarten Realty’s Orlando office is developing Clermont Landing, a 366,000-square-foot lifestyle retail center in Clermont. The project is expected to complete in fall 2008, and will feature JC Penney, Epic Theater, Michaels and Famous Footwear. The retail center will be located at the intersection of US Highway 27 and Steve’s Rd., just south of SR 50.
Southeast
WASHINGTON, D.C. — Bill Asbill, Bob Donhauser and Cary Abod of Holliday Fenoglio Fowler’s Washington, D.C. office have arranged a $104 million, 36-month construction loan on behalf of Carr Properties for the development of 901 K Street, a 261,000-square-foot office building in Washington, D.C.’s central business district. A consortium of banks facilitated the loan, including; Wells Fargo, as administrative agent; PNC Bank National, as syndication agent; US Bank National; and Chevy Chase Bank. The Class A office building will feature 12 stories of LEED-certified space along 10th and K St. and Massachusetts Ave.
WEST PALM BEACH, FLA. — Sacramento, Calif.-based Panattoni Development has acquired a 25-acre parcel of land from Grace Farms LLC for $15.8 million. The site will be developed for an 80,000-square-foot Dick’s Sporting Goods and a 100,000-square-foot department store, yet to be announced. The project is located at Southern Blvd. and Sansbury’s Way. Neil Merin of West Palm Beach-based NAI/Merin Hunter represented the seller. The project is slated to begin construction this spring and complete in mid-2009.
DUNN, N.C. — Richmond, Va.-based Apple REIT has acquired Hampton Inn, a 120-room property in Dunn, from Rylie Properties for $12.5 million. This is the first of a seven-hotel portfolio Apple is acquiring in the southeastern U.S. during the first quarter of 2008. The seller was advised by Josh Williams of Paramount Lodging Advisors’ Richmond office and Joe Ross of its Charleston, S.C. office via Homecourt Hospitality.
ROCKVILLE, MD. — Bethesda, Md.-based Washington Property Company has broken ground on The Summit at Washingtonian, a two-building complex in Rockville. Completion of the first phase, an eight-story, 200,000-square-foot LEED-certified office building and adjacent parking structure, is scheduled for March 2009. The project is located at the intersection of Interstate 270 and Shady Grove Rd. Wisnewski Blair & Associates are the project architect.
MCDONOUGH, GA. — Silver-McCann Apartment Group, a joint venture of Richmond, Va.-based McCann Realty and Washington, D.C.-based Silver Companies, has acquired Carrington Green Apartments, a 264-unit garden-style complex in McDonough, from an affiliate of Atlanta-based Davis Development. The seller was represented by Ron Cameron of Atlanta-based Primary Capital Advisors, and the buyer was represented in-house.
GAINESVILLE, VA. —Bristow Industrial Park, a 550,000-square-foot, $45 million project in Gainesville, will break ground in spring 2008. The industrial park is owned by BIP LLC, and Weber Ghadban & Associates will serve as project manager and listing broker. The project will have build-to-suit and buy or lease options.
LAFAYETTE, LA.; WASHINGTON, D.C. — Arlington, Va.-based Interstate Hotels & Resorts and Cork, Ireland-based Harte Hotels have acquired four hotels from affiliates of the Blackstone Group for $208 million. Interstate invested approximately $11.5 million for a 20 percent equity interest in the Hilton Lafayette, a 327-room property; Latham Hotel Georgetown, a 142-room property in Washington, D.C.; and two hotels in Pennsylvania and New Jersey.
ORLANDO, FLA. — Houston-based Weingarten Realty is developing Phillips Crossing, a 145,000-square-foot retail center in Orlando. Tenants include Whole Foods, Michaels and Golf Galaxy. The center is located at the intersection of Sand Lake Rd. and Turkey Rd. near Interstate 4. The first retailer will open in June.
ATLANTA — Roswell, Ga.-based Randall Paulson Architects is designing Fio 360, a $3 million, 22,600-square-foot ecologically-friendly childcare center in Atlantic Station near downtown Atlanta. The facility will feature solar tubes for natural daylighting, dual-level lighting and radiant heated floors.