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ASHBURN, VA. — The joint venture between Miller and Smith and NORTH AMERICA SEKISUI HOUSE has broken ground on Phase I of the 1 million-square-foot Downtown One Loudoun, a mixed-use development located in Ashburn in Loudoun County. “Downtown One Loudoun will become the new economic focal point for commerce in Loudoun County with a dense, pedestrian-oriented mix of uses and public amenities,” says Bill May, vice president of Miller and Smith. The first phase will include 210,000 square feet of retail, restaurant and office space, including an Alamo Drafthouse Cinema, which is scheduled to open in 2013. The second phase will include a hotel, additional shops and offices, luxury townhomes and multifamily residences. Potomac Development Group has been retained to lease the retail portion of Downtown One Loudon and Cassidy Turley will lease the office space. The demographics of Loudoun County are very strong. The population in Loudoun County in 2011 was 325,405, up from 312,311 in 2010, according to the U.S. Census Bureau. From April 2010 to July 2011, the county saw a 4.2 percent increase in population. Additionally, the median household income is approximately $120,000 a year, an 8 percent increase from four years earlier. “We have designed …

ROOTSTOWN, OHIO — SIGNET Development has broken ground on a student housing village for Northeast Ohio Medical University (NEOMED), located in Rootstown. The on-campus community is the first student housing project for the university and is part of a $130 million expansion plan. “Given SIGNET’s depth of experience, innovative ideas, and collaborative approach, they are the ideal partner for NEOMED and the successful execution of the university’s first residential housing offering,” says John Wray, vice president of administration and finance at NEOMED, which is co-headquartered in Akron, Ohio, and Jacksonville, Florida. “We’re excited to see construction begin.” The expansion plan will more than double NEOMED’s existing 450,000-square-foot campus. SIGNET will direct and oversee the design, construction, finance and management activities for the project. The 270,000-square-foot student housing village will include three, four-story buildings located on the northwest corner of NEOMED’s campus. The development will include paved walkways, private parking, group study areas on each floor, a recreation area and game room in the main building. Each of the 185 units will be fully furnished with living room furniture, kitchen appliances and a washer-dryer, and will include a private study area and walk-in closet. “We’re proud to partner with NEOMED to …

CHARLESTON, S.C. — The City of Charleston has selected a joint venture between Skanska USA and North Charleston-based Trident Construction Co. for the $142 million renovation of the Gaillard Municipal Auditorium, a multi-purpose building located at 77 Calhoun St. in Charleston. This is the largest construction project in the history of the city, according to Mayor Joseph Riley Jr. “The purpose of the project is two-fold. The first reason is the city wants to renovate the building is that it's been around for about 45 years and is in need of renovation to the performing arts hall,” says Bob Ferguson of Skanksa, who is the project executive for the Gaillard Center project. “The renovation/new construction will also include the addition of office space for city employees, so that the city can own the office space, as opposed to leasing office space.” The building, which was constructed in 1968, includes a 2,726-seat auditorium, a 15,000-square-foot exhibition hall and four meeting rooms. The building will be gutted, but the framework will remain. Ferguson says the renovation will include raising the roof about 18 feet higher, reducing the number of seats in the auditorium and adjusting the walls around the performing arts hall. …

CHEVY CHASE, MD. — Federal Capital Partners (FCP) has closed on the $592.2 million FCP Realty Fund II. The fund targets multifamily, office, retail and industrial properties throughout the Mid-Atlantic region. “FCP is extremely pleased with the response to the Fund II offering, which was over-subscribed in a challenging economic and fund raising climate,” says Esko Korhonen, managing partner of Chevy Chase-based FCP. Fund II has already secured 14 investments totaling $103 million of fund equity, representing value of $367 million. When fully deployed, the fund is expected to generate approximately $1.5 billion of total investments. Most recently, the fund acquired the 234-unit Ager Road Station, an apartment complex located in Hyattsville, Maryland, for $14.75 million. The property is 98 percent leased. “We are excited at the prospects of our fund given the opportunities created by continued disruptions in the capital markets and positive growth outlook for markets in the Mid-Atlantic region,” Korhorn says. “FCP’s active investment pace is, in large part, due to its ability to move quickly in markets where it has deep knowledge and established relationships.” Since 1999, the company has invested or financed more than $3 billion in assets, and manages $769.2 million of discretionary capital. …

LONG ISLAND CITY, N.Y. — SL Green Realty and JP Morgan Chase & Co. have sold One Court Square, a 50-story office tower in Long Island City, for $481 million, or approximately $343 per square foot. The buyer is a private investor group headed by David Werner. The 1.4 million-square-foot office building, which was designed by Skidmore Owings Merrill, opened in 1990. At 50 stories tall, it's the tallest building on Long Island. Citibank has fully leased the property through 2020. SL Green, a 30 percent owner in the joint venture, received approximately $44 million of net proceeds from the sale. SL Green, the city's largest owner of commercial office space, acquired a stake in the office building when it purchased the real estate investment trust Reckson Associates Realty Corp. in 2006. With the sale, SL Green's share of annualized cash from Citibank is reduced from 7.5 percent to 6.4 percent. Douglas Harmon and Adam Spies of Eastdil Secured represented SL Green in the sale. — Liz Burlingame

ATLANTA — Jamestown has announced it will sell the 620,000-square-foot 999 Peachtree, an office tower located in Atlanta’s Midtown submarket. Jamestown has engaged Eastdil Secured to represent the company in the sale, which it has targeted at $160 million. Jamestown seeks a capitalization rate in the low-to-mid 6 percent range for the trophy asset. Jamestown acquired the property in 2007 from Childress Klein Properties for $127 million, and has added new tenants such as Gensler and Oxford Industries, as well as retail brands Clothing Warehouse and En Paris. 999 Peachtree is 94 percent leased. The building also includes restaurant Empire State South. The property earned the designation of LEED Silver for existing buildings in 2009 after Jamestown implemented various sustainability initiatives, including water reclamation systems, a bike-share program and a partnership with a local community-sponsored agriculture program. “Jamestown has committed significant energy and resources to 999 Peachtree, and we are proud of the success it has become today,” says Matt Bronfman, CEO of Jamestown. “Our success in restoring the asset to true Class A status, combined with the strong capital markets environment for core assets, makes it an ideal time for us to bring this property to market.” According to …

HOUSTON — The University of Houston has selected Manhattan Construction Co. to build its new $105 million football stadium, which will be constructed on the site of its current arena, the 71-year-old Robertson Stadium, following the 2012 football season. Manhattan Construction has also built multi-million, high-profile stadiums for two National Football League (NFL) teams in Texas: Reliant Stadium for the Houston Texans and Dallas Cowboys Stadium for the Dallas Cowboys. Reliant Stadium is heralded as the first retractable roof stadium in the NFL. “Manhattan Construction Co. has constructed pre-eminent athletics venues for successful sports franchises in this great city and in the state of Texas. We are thrilled to partner with Manhattan as they are a leader in building first-class intercollegiate and professional athletics facilities across the country,” says Mack Rhoades, vice president of Intercollegiate Athletics for the University of Houston. Back in June, the University of Houston selected Houston-based PageSoutherlandPage and DLR Group to design the new stadium, whichis designed to hold 40,000 fans and will feature Phase II plans to expand the facility to accommodate 60,000 fans. The plans call for 22 luxury suites, 200 loge box seating, club seating for 650 fans, approximately 20,000 square feet of …

DENVER — Denver-based UDR has sold a nine-property multifamily portfolio to DRA Advisors for $297.7 million. The portfolio totals 3,187 units located in Jacksonville, Florida, Richmond, Virginia and Dallas, and is 95 percent leased. The properties include The Antlers, Green Tree Place, The Kensley Apartment Homes, St. Johns Plantation and Westland Park in Jacksonville; Belmont and Belmont Townhomes in Dallas; and Dominion Creekwood and Dominion West End, in Richmond. The assets are located in infill locations within major population centers. The markets all show strong real estate fundamentals with shrinking vacancy rates. According to New York-based Reis, the vacancy rate in Dallas in the second quarter of 2012 was 5.7 percent, down 30 points from the first quarter. The vacancy rate in Richmond was 5 percent, down 40 points from the first quarter, and the vacancy rate in Jacksonville was 8.4 percent, also down 40 points from the first quarter. “The properties are located in Sunbelt states with proximity to urban centers, strong population and good job fundamentals,” says Kevin Judd, principal of ARA’s Orlando, Florida, office. Several of the apartment complexes, which were built in the 1990s and 2000s, offer the opportunity to be repositioned to achieve higher rents. …

AUGUSTA, GA. — Starbucks Coffee Co. (NASDAQ: SBUX) has broken ground on a $172 million, 180,000-square-foot manufacturing facility in Augusta. The plant, which will be the first company-owned facility in the world to produce soluble products, will create 140 jobs when it opens in 2014. “Georgia is proud to welcome Starbucks to the growing community of global brands that make a home in our state,” says Georgia Gov. Nathan Deal. “We understand that a company like Starbucks has its pick of places to do business, so we are indeed glad the strength of Georgia’s workforce and business environment attracted this manufacturing operation.” The facility will produce several Starbucks products that are currently manufactured abroad, including Starbucks VIA Ready Brew and the coffee base used in Frappuccino blended beverages as well as many ready-to-drink beverages. The plant is designed to be LEED certified. “During such challenging economic times, I am thrilled that we are creating jobs and building something special right here in Georgia,” says Peter Gibbons, executive vice president of Seattle-based Starbucks’ global supply chain operations. “Starbucks has long believed that there is a direct link between our success and the vitality of the communities in which we do business.” …

SUFFERN, N.Y. — Raymour & Flanigan has acquired the 900,000-square-foot Tri-State Logistics Center in Suffern from Dress Barn. The furniture retailer plans to renovate the property into a regional distribution center. The purchase price of the center, which is located at 30 Dunnigan Dr., was not disclosed. However, Gov. Andrew Cuomo announced in June that Raymour & Flanigan was set to spend $46 million in buying and renovating the Rockland County warehouse. Headquartered in Liverpool, N.Y., Raymour & Flanigan has grown from four stores in 1982 to 95 stores across New York, New Jersey, Pennsylvania, Delaware, Connecticut, Massachusetts and Rhode Island. Jones Lang LaSalle (JLL) represented Dress Barn in the transaction. “We were able to uncover a number of potential buyers and tenants, but felt this deal was the best fit for our client and the property,” says Robert Kossar, managing director of Jones Lang LaSalle's Hasbrouck Heights, N.J. office. “Raymour & Flanigan clearly saw the benefits of this facility. In this market, there are very few options in this size range, and with easy access to the New York State Thruway. The location is perfect for Tri-State area distribution.” Dress Barn decided to sell the property in late 2010 …