ORLANDO, FLA. — Sean Glickman of Coldwell Banker Commercial NRT has brokered the $2.4 million sale of Goldenrod Crossings, a shopping center located at 7830 E. Colonial Drive in Orlando. The center’s tenant roster includes Trustco Bank, Ocean Fish Market Inc., MV Pawn, Repair Center of Orlando and Dream Team Barbershop. Glickman represented the seller, Colonial and Goldenrod Crossings LLC, in the transaction. The buyer was MSR Colonial LLP.
ATLANTA — NorthMarq Capital has arranged permanent debt financing for Intellicenter, a 150,000-square-foot, LEED Silver-certified office property located at 2531 Sever Road in Atlanta. Warren Hitchcock of NorthMarq’s Houston office arranged the 12-year loan with a 30-year amortization schedule through an undisclosed life insurance company on behalf of the borrower, Susquehanna Holdings Ltd. The office building was fully leased at the time of the loan transaction.
ELGIN, S.C. — Colliers International has brokered the $22.9 million sale of Legacy at Sandhill, a 240-unit Class A apartment community located in Elgin, a suburb of Columbia. Will Mathews, Ron Cameron and Woody Moore of Colliers represented the seller, Atlanta-based Mesa Capital Partners, in the transaction. The buyer was the Wilkinson Group, also based in Atlanta.
MIAMI BEACH, FLA. — Mission Capital Advisors has arranged $19 million in acquisition and renovation financing for the Variety Building, a 70-unit mixed-use building located at 1700 Alton Road in Miami Beach. The property will undergo renovations as the retail space is prepared for re-leasing and the residential component is converted to hospitality space. Jason Cohen, Jordan Ray, Ari Hirt and Axel DeAngelis of Mission Capital arranged the loan through Ladder Capital on behalf of the borrower, a joint venture between Springhouse Partners and Forte Capital Management. The property’s current tenant roster includes scooter dealer Vespa Miami.
JOHNS CREEK, GA. — Grandbridge Real Estate Capital has arranged a $10 million acquisition loan for a 109,586-square-foot shopping center in Johns Creek, an affluent northern suburb of Atlanta. Publix anchors the shopping center and has roughly five years remaining on its lease. Gerry Robbins of Grandbridge originated the loan through an unnamed insurance company lender on behalf of the undisclosed buyer, which purchased the lender-owned asset at auction.
STAFFORD, VA. — The Greysteel Co. has brokered the $6.2 million sale of the Town Center at Aquia, a 25-acre retail development site located at 2848 Jefferson Davis Highway in Stafford. Gil Neuman led Greysteel’s Mid-Atlantic retail investment sales team in representing the seller, Ramco Gershenson Properties Trust. The Greysteel team also procured the buyer, Mosaic Realty Partners LLC. Currently home to Regal Cinemas and Rite Aid and adjacent to a 98,000-square-foot office building and a 256-unit multifamily project, the buyer plans to develop a 160,000-square-foot grocery-anchored shopping center on the site.
LAKELAND, FLA. — Ridge Development, the industrial development arm of Transwestern Development Co., has begun construction on a 245,000-square-foot Class A distribution center — the first of two buildings in a new 46.5-acre business park called Lakeland Logistics Center. The speculative building is slated for delivery by year-end, and the second 245,000-square-foot building is being marketed as a build-to-suit opportunity. Located at 2011–2211 W. Memorial Blvd. in Lakeland, the project is owned by a joint venture between Ridge Development and AEW Capital Management. AEW is developing the project on behalf of one of its separate account clients. Lakeland Logistics Center is situated within two miles of Interstate 4 near the intersection of U.S. Highway 92 West and Wabash Avenue. Each building is divisible to 44,000 square feet and features front-load or cross-dock capability, 74 dock doors, 32-foot clear heights, 45 trailer parking spaces and a six-acre staging base for trailer storage or parking. Julia Silva Rettig, Jeff Lamm, Jared Bonshire and David Perez of Cushman & Wakefield are providing leasing services.
SPANISH FORT, ALA. — Passco Cos. LLC has purchased The Arlington at Eastern Shore, a 300-unit, Class A multifamily community located at 10558 Eastern Shore Blvd. in Mobile’s Spanish Fort suburb, for $43 million. Built in 2009, the property was designed to where each multi-unit apartment building resembles a large single-family home. The property features attached garages, an indoor basketball court, stocked fishing pond, pool with a sundeck, resident lounge, car care center and a fitness center. Passco plans to improve the apartment community with new exterior paint and the addition of a dog park. Passco funded its purchase of The Arlington at Eastern Shore using Fannie Mae debt. Rock Apartment Advisors brokered the transaction.
MIAMI BEACH, FLA. — Hyatt Hotels Corp. has opened Hyatt Centric South Beach Miami, a 105-room hotel in Miami Beach’s South Beach neighborhood. The property is the first Hyatt Centric in the region and only the second one worldwide. The 10-story hotel is located at 1600 Collins Ave. and features a central lobby lounge, local artwork, an indoor/outdoor lobby on the third floor, fitness center and an open-air deck with a swimming pool and cabanas. Hyatt Hotels developed the hotel in conjunction with Miami-based Robert Finvarb Cos. and its partner David Martins. Architect Kobi Karp designed the hotel.
NORTH MIAMI BEACH, FLA. — Faith Investment Properties Group has purchased two office buildings known as Venture Center in North Miami Beach for $7 million. The Aventura, Fla.-based investment firm has several medical office buildings in its portfolio in the vicinity, which is close to Jackson North Medical Center. FIP Realty Services LLC, an affiliate of Faith Investment Properties, represented the buyer in the transaction.