BOSSIER CITY, LA. — UCR Investment Sales has arranged the sale of a 15,000-square-foot Nike Factory Story in the Louisiana Boardwalk, a mixed-use development in Bossier City, part of the Shreveport MSA. A 26,881-square-foot land parcel adjacent to Regal Cinemas was also included in the transaction. Adam Howells, Kevin Catalani and Jessica Donnelli represented the seller, O&S Holdings, in the transaction. The buyer, Garrison Investment Group, purchased the Nike Factory Store for an undisclosed amount.
Southeast
CORAL GABLES, FLA. — CBRE has arranged the sale of Douglas Entrance, a Class A 467,325-square-foot landmark office campus in Coral Gables. Miami-based Banyan Street Capital and Los Angeles-based Oaktree Capital Management partnered to acquire the five-building project from Chicago-based Pearlmark Real Estate Partners for approximately $100.8 million. The property was 82 percent leased at the time of sale. Douglas Entrance, located at the intersection of S.W. 37th Avenue and S.W. 8th Street, includes modern high-rise towers, street-level retail, boutique office suites and meeting spaces. The building, which is LEED Silver-certified and an Energy Star-rated project, is also listed on the National Register of Historic Places. The CBRE team representing the seller included Christian Lee, JoséLobón, Charles Foschini and Chris Apone. Eric Groffman, Josh Gibbons and Andrea Lopez of Transwestern assisted the CBRE team in the transaction.
WASHINGTON, D.C. — Valor Development and DBT Development Group have begun construction of The Maryland, an 84–unit condominium located at 1350 Maryland Ave. N.E. at the eastern edge of Capitol Hill and the H Street corridor. Developers started the project more than three years ago with the acquisition of the vacant Faith Bible Church and an adjacent lot occupied by a car repair shop. The one- and two- bedroom condos will be priced from the $300,000s to the $500,000s. Urban Pace, a sales and marketing firm, will begin pre-sales of the condos in May.
MIAMI — A partnership between ECI Group, Adler Group and Canyon Capital Realty Advisors has topped off a 467-unit waterfront luxury apartment complex. The ShoreCrest Club Apartments on the Bay will offer a variety of one- and two-bedroom floor plans, ranging in size from 685 to 2,011 square feet. The 20-story tower apartments, located at 7950 North East Bayshore Court, will feature nine-foot ceilings, stainless steel appliances, granite countertops, walk-in closets and balconies with bay and skyline views. The apartments will also include a pool deck overlooking the Intracoastal Waterway, a fully-equipped fitness center, social room, sauna, theater, a covered parking garage, valet, cybercafé and 24/7 security. A 6,000-square-foot waterfront restaurant, as well as water access at its private marina will also be part of the property. Capital One Bank and SunTrust Bank provided senior financing for the project in the amount of $60 million to facilitate the property’s construction. Rental rates for units at ShoreCrest Club will range from approximately $1,500 to $3,600 per month. First occupancies are set for late 2014.
WASHINGTON, D.C. — Akridge, a real estate services company, has signed law firm Brown Rudnick LLP to a 35,000-square-foot lease renewal at The Homer Building for seven years. The Homer Building, located atop Metro Center station a few blocks away from the White House, includes a rooftop terrace with views of the D.C. skyline, a full-service fitness facility and a 12-story atrium. The Homer Building is LEED Gold-certified, Energy Star-rated and has received a BOMA 360 Performance Building designation. The building also received BOMA's International Office Building of the Year award. Mitsui Fudosan America, a majority shareholder of Akridge, owns the Homer Building. Susan Thomas and Brittany Kalkstein of Cushman & Wakefield represented Brown Rudnick in the lease transaction. Wil Pace and Greg Tomasso of Akridge provided landlord representation. Akridge provides property management services at the building.
FORT LAUDERDALE, FLA. — 110 Tower, a LEED Gold-certified, Class A office building in downtown Fort Lauderdale’s Central Business District, has leased more than 40,000 square feet to a variety of commercial tenants. 110 Tower recently completed a comprehensive $15 million interior and exterior renovation, which included the addition of ground-floor retail, upgrades to the lobby and interior common areas, enhancement of primary mechanical systems and installation of a unique exterior lighting system. The building now hosts more than 800 full-time employees. Law firms Lewis Brisbois Bisgaard & Smith; Fort Lauderdale Executive Office Suites; the Broward Safety Council; and Cole, Scott & Kissane, P.A. are among the established businesses at the tower. Subway is now open in 110 Tower’s ground floor and Trial Copy, a litigation consulting firm specializing in electronic data discovery, computer forensics custom trial graphics and heavy litigation copy services, sits in 110 Tower’s lobby level. Laurel Oswald of Cushman & Wakefield handles office-leasing responsibilities for 110 Tower.
CORAL GABLES, FLA. — HFF has arranged $74 million in financing for 4000 Ponce/ The Collection Building, a 295,088-square-foot trophy mixed-use property in Coral Gables. HFF, on behalf of the borrowers The Collection Properties LLC and The Collection LLC, arranged a 10-year, fixed-rate loan through a European-based insurance company. Proceeds will be used to repay the existing loan. The property, completed in 2002, is located at 4000 Ponce De Leon Blvd. It is 91 percent leased and includes 178,101 square feet of Class A office and retail space. The property also includes The Collection, an automotive dealership featuring the Ferrari, Maserati, McLaren, Aston Marin, Jaguar, Porsche and Audi brands. The HFF team representing the borrower included Paul Stasaitis, Jim Dockerty and Jose Carrazana. Bilzin Sumberg’s legal team, which consisted of Jim Shindell, Suzanne Amaducci-Adams and Alexandria Lehson, assisted in legal counseling.
MIAMI — InterContinental Hotels Group’s (IHG) Hotel Indigo plans to open its third location in Miami in late 2016. Hotel Indigo Miami Brickell, located at 145 S.W. 11th St., is near the famous Brickell Avenue and downtown Miami. The $48 million hotel will have approximately 2,000 square feet of meeting space, a full restaurant, fitness center and an outdoor pool with its own bar and grill. The 24-story, 140-room hotel is a joint venture between HES Group and Sunview Cos. An affiliate of IHG has franchised the hotel.
RALEIGH, N.C. — Grubb Properties, a Charlotte-based commercial real estate company, and Rubenstein Partners, a Philadelphia-based real estate fund manager, have sold Newcastle North, an 112,340-square-foot laboratory and office building at the Imperial Center Campus in Raleigh. The two-building portfolio was sold for $14.5 million to Capital Square Holdings, a real estate investment and advisory firm based in Glen Allen, Va. The building, located at 1035 Swabia Court at the intersection of I-40 and I-540, was originally acquired in September 2012 from GlaxoSmithKline. The building was fully leased to Reichhold Industries within its first year of ownership. Scot Humphrey, Chris Norvell and Bill Simerville of Cushman & Wakefield | Thalhimer’s capital markets group, along with Samir Idris of Cushman & Wakefield’s Atlanta office, handled the negotiations on behalf of the seller. The building was 100 percent leased at the time of sale. The second building, Newcastle South at 1015 Swabia Court, features 86,895-square-feet of office space.
JOHNSON CITY, TENN. — Chase Properties, an Ohio-based owner and operator of shopping centers, has announced the acquisition of Johnson City Crossing, a 240,000-square-foot shopping center in Johnson City, from Ronus Properties. The shopping center, located on State of Franklin Road, is anchored by Ross Dress for Less, Bed Bath & Beyond, Michaels, PetSmart, HH Gregg, Stein Mart and Old Navy. Other tenants at the center include Shoe Carnival, Dress Barn, Lifeway Christian and Rugged Warehouse. David Webb with Berkeley Capital Advisors brokered the sale. Johnson City Crossing is Chase Properties’ first acquisition in Tennessee.