MIAMI — Colliers International South Florida has arranged the sale of two sites totaling nearly three acres in Miami’s central business district (CBD) for $33.1 million, or $256 per square foot. Larry Stockton, Alex Morcate and Jeff Resnick of Colliers International represented the sellers, Riverfront Parcel 5 LLLP and Riverfront Parcel 6 LLLP, both controlled by Intergra Investments. The buyers, MRP Parcel 5 LLC and MRP Parcel 6 LLC, are both controlled by KAR Properties. The land parcels are part of Miami River Village, Miami CBD’s only gated waterfront community. KAR is approved to develop 1,426 units in three high-rise towers, the first of which is an 800-foot tall condominium property. Colliers International has another multifamily site in Miami’s Brickell neighborhood that is under agreement, according to Stockton.
Southeast
ROCKVILLE, MD. — NAI KLNB has brokered the sale of 1801 and 1803 Research Boulevard, a two-building office portfolio in Rockville. RFII Acquisitions LLC purchased the two assets for approximately $18.3 million from DMARC 2006-CD2 Research Office LLC. The six-story properties are 48 percent leased to tenants such as Allied Technologies, Adventist Healthcare and BLH Technologies. Christopher Kubler of NAI KLNB, in cooperation with C-III Realty Services LLC, brokered the transaction on behalf of the buyer.
MIAMI — Koniver Stern Group has arranged the $10.1 million sale of Eureka Plaza, a 66,142-square-foot shopping center located at 18300 S.W. 137 St. in Miami. The shopping center is comprised of a 52,450-square-foot Winn-Dixie, a 3,367-square-foot McDonald’s, a 3,500-square-foot Pollo Tropical and three free-standing retailers. Larry Soroka of Koniver Stern Group represented the buyer, Eureka Plaza Group LLC.
BROOKS, KY. — Mumford Co. has brokered the sale of Baymont Inn-Louisville South in Brooks, a suburb of Louisville. Kishu Inc., a local investor group, purchased the 65-unit hotel from Supertel Hospitality. David Mumford and Burton Brooks of Mumford Co. represented the seller in the transaction. The hotel is the 49th disposition that Mumford Co. brokered on behalf of Supertel.
ATLANTA — PMZ Realty Capital LLC has closed an $81.5 million floating rate loan for the Embassy Suites Atlanta – At Centennial Olympic Park, a 321-suite hotel adjacent to the World of Coca-Cola and the Georgia Aquarium in Atlanta’s Luckie Marietta District. The hotel features 16,000 square feet of meeting space and an outdoor pool and spa. This is the third loan PMZ Realty Capital has closed on behalf of the hotel’s owner, Legacy Property Group, in the last six months. Legacy is planning on renovating the hotel during the next 12 months.
SOUTH MIAMI, FLA. — Construction will begin this summer on Metro South Senior Apartments, a 91-unit independent living community located at the northwest corner of Sunset Drive and S.W. 61st Avenue in South Miami. Beneficial Communities, the developer, recently received approval for the development from the city of South Miami. The seven-story community will include a leasing office and commercial space on the ground floor and tenant amenities on the second floor. Amenities will include a café, game room, theater, fitness center, laundry facility and an integrated four-story parking garage. The design team includes architect and interior designer Forum Architecture & Interior Design Inc., general contractor Siltek Group Inc., structural engineer ONM&J Inc., MEP engineer Joseph Lawrence & Co. LLC and civil engineer Develotec Inc.
AIKEN, S.C. — JLL has arranged the $28.9 million sale of Hitchcock Plaza, a 252,097-square-foot shopping center in Aiken. Inland Real Estate Group purchased the asset from Hendon Properties. The shopping center’s tenant roster includes Ross Dress for Less, T.J. Maxx, Bed Bath & Beyond, Old Navy and Academy Sports + Outdoors. Margaret Caldwell and Kris Cooper of JLL represented Hendon Properties in the transaction.
SANDY SPRINGS AND CONYERS, GA. — HFF has arranged the $25.8 million sale of The Village at Millers Chapel and Trowbridge Crossing in metro Atlanta. The two Publix-anchored shopping centers total approximately 137,000 square feet combined. BIG Shopping Centers purchased both assets from Atlanta-based Columbia Properties Inc. Richard Reid and Jim Hamilton of HFF led the sales team in representing Columbia Properties in the transaction. HFF also arranged acquisition financing through Lincoln Financial Group for the The Village at Millers Chapel purchase. The Village at Millers Chapel at 2159 GA Highway 20 in Conyers was built in 2012 and is currently 98 percent leased to tenants including Publix and Kauffman Tire. Trowbridge Crossing at 7507 Roswell Road in Sandy Springs was renovated in 2013 and is 96.4 percent leased to Publix and the US Post Office.
SNELLVILLE, GA. — Shane Investment Property Group has brokered the $4.6 million sale of Scenic Square, a 70,060-square-foot shopping center in Snellville, a suburb of Atlanta. The center is 87 percent leased and is anchored by Michael’s, which recently signed a 10-year lease renewal. Elliott Kyle of Shane Investment Property Group represented the buyer, Adams Scenic Square LLC, in the transaction. Dan Cooper of Cooper Commercial Investment Group represented the seller, Cincinnati-based Viking Partners. Sam Perlman of Adams & Co. Real Estate will handle the leasing for Scenic Square going forward.
BETHESDA, MD. — Cassidy Turley has arranged $45 million in financing for Bethesda Place II, a 209,397-square-foot, Class A office building in Bethesda. Bethesda Place II’s retail tenant roster includes Safeway, Original Pancake House and Comcast Sports Net, and its office tenant roster includes Wells Fargo, First Potomac Realty Trust and Beech Street Capital. Philip Mudd and Bradley Geiger of Cassidy Turley arranged the 20-year, fixed-rate loan through a life insurance company on behalf of the borrower, Bethesda Place II Associates LLC.