WOODSTOCK, GA. — The LaSalle Group has opened Autumn Leaves of Towne Lake, a 28,000-square-foot, $9.8 million memory care facility at 1962 Eagle Drive in Woodstock, about 30 miles north of Atlanta. The facility will serve residents with Alzheimer’s, dementia and memory impairment. Each unit will feature the Vigil System, a motion sensor program. This project is the first freestanding memory care facility in Woodstock, according to Susan Tidwell of Autumn Leaves of Towne Lake.
Southeast
CARY, N.C. — A joint venture between Intercontinental Real Estate Corp. and Spectrum Properties has acquired a four-story, Class A office building in Regency Park in Cary. Regency Park includes a dozen office buildings, three hotels, a 110,000-square-foot fitness club, retailers and upscale housing. The property will be rebranded and marketed as Regency Pines. Spectrum also purchased 17 adjacent acres, which can house an additional 250,000 square feet of office space. Spectrum Properties will handle the leasing and management for the new property.
MIAMI — New Boston Fund Inc. has sold Waterford Centre, a six-story, Class A office building in Miami, for an undisclosed price. The 91,285-square-foot asset is located at 6205 Blue Lagoon Drive in the Blue Lagoon Business Park. Ivy Realty purchased the office building, which was 91 percent leased at the time of the sale to tenants such as McAfee, a subsidiary of Intel; Whirlpool Corp.; Travel Traders; Xerox Corp. and Remy Cointreau. Christian Lee, Jose Lobon, Charles Foschini and Chris Apone of CBRE represented New Boston Fund in the transaction. Danet Linares of Blanca Commercial Real Estate assisted CBRE in the transaction.
RALEIGH, N.C. — Grubb Properties and The Kalikow Group have started construction on Link Apartments Glenwood South, a 204-unit multifamily community located between the Glenwood South entertainment corridor and downtown Raleigh. The property, which is scheduled for a spring 2015 completion, will feature walk-in closets, USB outlets and large bathroom vanities. Link’s amenity package will include a fitness center, cycle center, dog park, swimming pool, clubroom and outdoor recreation area. The new apartment property is located near a bus stop, the new Amtrak station and a planned stop for a light-rail system.
UNION CITY, GA. — King Industrial Realty/CORFAC International has brokered the sale of Shannon Mall, a vacant 90-acre shopping mall in Union City. The buyer, Atlanta-based Rooker, plans to demolish the mall and build up to 1.2 million square feet of warehouse, distribution and logistics facilities that will target e-commerce occupiers. Rooker purchased the property, which features 10 acres of outparcels, from Lee Group USA, MB-REO Retail, MB-REO Land and Sears, Roebuck & Co. Inc. Sim Doughtie of King Industrial Realty/CORFAC worked with Union City Mayor Vince Williams to rezone the retail site to industrial.
ATLANTA — Cortland Partners has acquired the 271-unit Pointe at Lenox Park, an apartment community located in Atlanta’s Druid Hills neighborhood. The property features a business center, clubhouse, fitness center, wood-burning fireplaces and private balconies. Cortland will implement renovations to the apartment units and updates to the common areas. Cortland purchased the asset, which was built in 1988, from a local private owner.
FORT MYERS, FLA. — The Ferber Co. has developed Chipotle Mexican Grill and a drive-thru Starbucks Coffee in the Shops at University, located at 10010 University Plaza Drive in Fort Myers. The new property spans 4,327 square feet and is the first Chipotle Mexican Grill in the Fort Myers area.
ATLANTA — OliverMcMillan has confirmed the names of 28 tenants that will join Buckhead Atlanta, the new 1.5 million-square-foot mixed-use development under construction in Atlanta’s Buckhead district. The first retailers and restaurants will open their doors in September, and the remaining tenants will open through the holiday season and early 2015. The tenants include: Akris (2,164 square feet) Bella Bag (1,178 square feet) Brunello Cucinelli (2,491 square feet) Canali (2,111 square feet) Christian Louboutin (1,787 square feet) diptyque (496 square feet) Etro (2,214 square feet) Helmut Lang (2,116 square feet) Hermès (4,100 square feet) Jimmy Choo (2,162 square feet) L’Occitane (2,784 square feet) Moncler (1,899 square feet) Scoop NYC (2,461 square feet) Spanx (2,999 square feet) Theory (2,580 square feet) Tod’s (2,101 square feet) American Cut (10,000 square feet) American F+B (6,370 square feet) Corso Coffee (1,596 square feet) Doraku Sushi (2,725 square feet) Georgetown Cupcake (2,700 square feet) Gypsy Kitchen (3,750 square feet) Le Bilboquet (3,686 square feet) Lugo Caffé (6,050 square feet) Shake Shack (2,500 square feet) The Southern Gentleman (3,750 square feet) Thirteen Pies (4,300 square feet) Qing Mu (2,725 square feet)
CINCINNATI, OHIO — Phillips Edison-ARC Shopping Center REIT Inc. has purchased four grocery-anchored shopping centers in Illinois, Tennessee and Virginia for approximately $73 million. The properties include the Jewel-Osco-anchored Burbank Plaza in Burbank, Ill.; the Walmart Supercenter-anchored Hamilton Village in Chattanooga, Tenn., which is the REIT’s first property in Tennessee; the Kroger-anchored Statler Square in Staunton, Va.; and the Martin’s-anchored Waynesboro Plaza in Waynesboro, Va. The shopping centers total approximately 736,000 square feet. The REIT’s portfolio now includes 102 properties in 24 states.
MIAMI BEACH, FLA. — CBRE has arranged the sale of eight multifamily properties in the South Beach section of Miami Beach totaling approximately $22.2 million. Boardwalk Properties FL LLC purchased the 113-unit, 69,583-square-foot portfolio from Pepis Corp., Erogol Corp. and Nanshar Corp. The properties are located at 705 Lenox Ave.; 762 Lenox Ave.; 710 Meridian Ave.; 825 Alton Road; 1501-1521 Michigan Ave.; 1600 West Ave.; and 1606 West Ave. Calum Weaver led the CBRE team in representing the sellers in the transaction. Neil Rollnick of Hinshaw & Culbertson LLP provided legal representation for the sellers, and Marc Kleiner of Kleiner Law Group provided legal representation for Boardwalk Properties FL LLC.