OSCEOLA COUNTY, FLA. — NAI Realvest has started construction on Poinciana CommerCenter, an approximately 200,000-square-foot commerce center, in Osceola County. The first buildings will include an industrial dock-high building totaling 50,000 square feet and two grade-level buildings totaling 25,000 square feet. Also included will be two retail outparcels totaling 2 acres. In addition, Small Bay Partners is developing a 125,000-square-foot industrial facility in two phases at Poinciana CommerCenter. Phase I will include 60,000 square feet and will begin construction first quarter 2008. Phase II will begin construction in 2009. The property is located on the south side of U.S. 17-92 off Poinciana Boulevard.
Southeast
MIAMI — Iron Mountain, a Boston-based information protection and storage company, has signed a 130,000-square-foot warehouse lease in Miami. John Vaught and Elsa Heredia with CB Richard Ellis’ Miami Airport office represented the tenant, and Industrial Group Realty represented the landlord, 114th Street Property LLC. The facility is located at 3355 NW 114th St. near Interstate 75 and the Miami International Airport.
MIAMI — Iron Mountain, a Boston-based information protection and storage company, has signed a 130,000-square-foot warehouse lease in Miami. John Vaught and Elsa Heredia with CB Richard Ellis’ Miami Airport office represented the tenant, and Industrial Group Realty represented the landlord, 114th Street Property LLC. The facility is located at 3355 NW 114th St. near Interstate 75 and the Miami International Airport.
STERLING, VA. — Construction is complete on the Hampton Inn & Suites Washington-Dulles Airport. The five-story property features 170 rooms and approximately 3,000 square feet of meeting space. Amenities include wireless Internet access, an indoor pool, a fitness center and a business center. The property is located two miles from the Dulles International Airport and a variety of local attractions.
STERLING, VA. — Construction is complete on the Hampton Inn & Suites Washington-Dulles Airport. The five-story property features 170 rooms and approximately 3,000 square feet of meeting space. Amenities include wireless Internet access, an indoor pool, a fitness center and a business center. The property is located two miles from the Dulles International Airport and a variety of local attractions.
ATLANTA — Paul Kenworthy with Los Angeles-based Charles Dunn Co. has brokered the sale of a Sonic Drive-In in Atlanta for $1.59 million. The deal featured a cap rate of 7.8 percent. Los Angeles-based Khougaz Trust acquired the property, located at 2380 Sheriff Rd., from SS Fast Food.
ATLANTA — Paul Kenworthy with Los Angeles-based Charles Dunn Co. has brokered the sale of a Sonic Drive-In in Atlanta for $1.59 million. The deal featured a cap rate of 7.8 percent. Los Angeles-based Khougaz Trust acquired the property, located at 2380 Sheriff Rd., from SS Fast Food.
NORTH CAROLINA AND VIRGINIA — New York-based Savills Granite has represented Greensboro, N.C.-based The Starmount Company in the sale of a retail and office portfolio to the joint venture of CBL & Associates Properties and the Teachers’ Retirement System of the State of Illinois for $356.6 million. CBL also acquired a portfolio of eight community centers and a 12-office building portfolio from Starmount, bringing the total value of Starmount’s sales to $540.8 million. Included in the transaction are: Friendly Center, a 1-million-square-foot property located in Greensboro, N.C., that plans to add 20,000 square feet by spring 2008; The Shops at Friendly Center, a 253,000-square-foot property that plans to add 62,500 square feet by summer 2008; Green Valley Office Park, a six-building portfolio in Greensboro; eight community centers located in Greensboro and High Point, N.C.; a 12-building office portfolio located in Greensboro and Raleigh, N.C., Newport News and Chesapeake, Va.; and the Renaissance Center, a 355,000-square-foot shopping center located in Durham, N.C.
COLLIERS DICKINSON FACILITATES 995-ACRE SALE JACKSONVILLE, FLA. — Hobart Joost, Jr., of Colliers Dickinson in Jacksonville has represented Bacardi Bottling Corp. in the $20 million sale of 995 acres, located at the northeast quadrant of Pecan Park Road and Interstate 95 in Jacksonville. University Park, Fla.-based Benderson Development, d/b/a Rum East, purchased the site for development of a regional activity center to include office and retail space as well as 319 acres of industrial land.
ABERDEEN, MD. — Opus East and the U.S. Army are developing the Government and Technology Enterprise (G.A.T.E.), a 200-acre development at Aberdeen Proving Ground in Aberdeen. Opus plans to build three buildings on the first land bay to be developed, including a research and development facility and two speculative office buildings. The first building is a 60,000-square-foot single-story research and development facility that is expected to be complete by summer 2008. The second building planned is an 80,000-square-foot office building, which will be underway in 2008. The G.A.T.E. project is part of the U.S. Army’s Enhanced Use Lease (EUL) program. Under the terms of the EUL, Opus will lease each land bay for 50 years, allowing the U.S. Army to develop underutilized property and redirect the proceeds back into the maintenance and improvement of Aberdeen Proving Ground facilities.