BETHESDA, MD. — Piedmont Office Realty Trust has acquired Opus Center at Rock Spring I in Washington, D.C. The Class A office building will be connected by the Opus Center at Rock Spring Park II, a second building currently under construction. Piedmont is planning to purchase that property. The eight-story buildings will total 407,000 square feet and will be renamed Piedmont Pointe I and II. The seller was Opus East, who was represented by Erick Berkman and Steven Gichner of Grubb & Ellis. The property is located at Rockledge Drive in Bethesda near Interstates 495 and 270.
Southeast
LAFAYETTE, LA., AND JACKSONVILLE, FLA. — Triple Net Properties has acquired Emberwood Apartments in Lafayette on behalf of TIC investors from Goodman Real Estate. The 296-unit property features 24 two-story buildings and approximately 267,000 square feet of space. Property amenities include two swimming pools, a sports court and children’s playground. Wachovia Bank provided the financing. Additionally, Triple Net Properties has acquired Exchange South in Jacksonville on behalf of TIC investors from G&I V Exchange South LLC. The five-building, 194,400-square-foot property is located along Philips Highway near Interstate 95. It is 95 percent leased and tenants include Florida Oncology Associates, Columbia Analytical Services and Unique Customer Concept.
PETERSBURG, VA. — Virginia Beach, Va.-based Wheeler Properties has acquired Walnut Hill Plaza in Petersburg. Save-a-Lot, Family Dollar, Maxway and Citi Trends anchor the 89,907-square-foot shopping center. Nathan Jones and Robby Brownfield of CB Richard Ellis represented Wheeler in the transaction.
CONYERS, GA. — St. Germain, Wis.-based Eliason 1031 Properties has acquired Lake St. James in Conyers from a group of limited liability companies and associated individuals. The 20-building, garden-style community features 484-units and is situated on approximately 55 acres at 50 St. James Dr., along Interstate 20. Property amenities include a clubhouse, a fitness facility, two swimming pools, picnic areas and tennis courts. Eliason plans to offer the property to TIC investors. Steve Griffin with Cushman & Wakefield of Georgia represented the seller in the transaction.
JACKSONVILLE, FLA. — Mike Harrell, Lou Nutter and Cliff Taylor of CB Richard Ellis brokered the sale of Interstate South, a 260,072-square-foot office park in Jacksonville. The six-building complex was purchased by Boston-based WRF-11 Acquisitions LLC from DBSI Philips LLC for an undisclosed amount. Tenants include DR Horton, Laufen International and First American Title.
MURFREESBORO, TENN. — Radnor, Pa.-based DeSanto Realty Group has acquired Cason Estates in Murfreesboro from Tarragon Corp. for $27 million. The 20-building community, situated on 19 acres at 1650 Cason Ln., features one-, two- and three-bedroom units. The property will be offered to TIC investors. CB Richard Ellis brokered the transaction.
MIAMI — Regional Properties has acquired a 22,000-square-foot office property in Miami from Burger King Corp. for $3.5 million. Nicknamed “The Burger King Bunker” after employees used the site to wait out Hurricane Andrew, the property is located at 11975 SW 140th Terrace. The seller plans to lease the property to The Sunrise Group, a health care company. Edward Redlich and Viktoria Telek of ComReal Miami represented the seller in the transaction.
VIRGINIA BEACH, VA. — Samuel Walker and Samuel Scott of Thalhimer have brokered the sale of a 15,000-square-foot office/warehouse in Virginia Beach. DRBX2-600 N. Witchduck LLC acquired the property from Witchduck Properties for $1.61 million. The building is situated on 2.4 acres at 600 N. Witchduck Rd.
ORLANDO, FLA. — South Florida-based Skyrise Development Group has received final site approval from the Orlando City Council to build World Trade Center Orlando, a $200 million International Commerce Center. It will comprise two multi-use towers zoned for more than 500,000 square feet of commercial mixed-use including Class A office space with executive suites, retail space, banking, restaurants and a health club. Phase I, which entails Tower I, is scheduled for early 2008 with completion estimated for mid-2009.
CHATTANOOGA, TENN. — A joint venture between CORE Real Estate Services and Birmingham, Ala.-based Broder & Sachse Real Estate Services has acquired Mountain Creek Apartments, a 296-unit apartment and townhome community located at the intersection of Mountain Creek Road and North Runyan Drive in Chattanooga for $13.25 million. The property was secured with a non-recourse Fannie Mae loan from Prudential. An out-of-state owner sold the 93 percent occupied multifamily property.