Southeast

TOWER POINT AT THE HIGHLANDS IN MARYLAND SELLS FOR $23.7M

by admin February 7, 2013

SPARKS, MD. — An affiliate of Greenfield Partners has acquired Tower Point at the Highlands, a 162,646-square-foot portfolio of two office buildings in Sparks, for $23.7 million. The Class A, campus-style buildings are located at 920 and 930 Ridgebrook Road within a planned business park along the I-83 corridor. The property is 96 percent occupied by tenants such as Fundamental Long Term Care Holdings and MobilexUSA. Christopher Abramson, Brian Kruger and Nicholas Signor of Cushman & Wakefield represented the seller, Equus Capital Partners, in the transaction.

February 7, 2013

BEECH STREET ARRANGES $32.5M IN ACQUISITION LOANS

by admin February 7, 2013

BIRMINGHAM, ALA. — Beech Street Capital has closed Fannie Mae loans totaling $32.5 million that will be used to acquire a four-property portfolio totaling 770 units in Birmingham. The four properties — Ascot Place, Forest Ridge, Woodbrook and Meadow Wood — are each Class B, garden-style apartments. The buildings were originally developed by the seller in the 1980s. Barry Lefkowitz and Jay Jacobovitch of Meridian Capital Group arranged the 10-year, fixed-rate loans.

February 7, 2013

Industrial Southeast

NEWLY WED FOODS TO INVEST $57M IN NORTHERN KENTUCKY

by admin February 6, 2013

ERLANGER, KY. — Newly Wed Foods plans to develop a regional food production facility in Northern Kentucky, with plans to create 115 jobs and invest $57 million in Boone County. Newly Wed Foods, an international manufacturer and distributor of food ingredients, purchased an existing 326,000-square-foot facility at 4455 Olympic Blvd. in the Circleport Business Park in Erlanger. The park is also home to Toyota Motor Engineering and Manufacturing North America. The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $6 million through the Kentucky Business Investment program.

February 6, 2013

Multifamily Southeast

HIBERNIAN PACIFIC CLOSES $78.5M MULTIFAMILY PORTFOLIO PURCHASE

by admin February 6, 2013

ATLANTA — Hibernian Pacific Holdings and its Atlanta-based partner have acquired an 846-unit, Class A multifamily portfolio in Georgia for $78.5 million. The properties are located in Cobb and Gwinnett counties. Wilwat Properties Inc. was the seller. The deal marks Hibernian's 10th transaction since announcing its new affiliation with Evolution Capital Management, an investment advisor. Over the past 90 days, Hibernian closed on a series of deals comprising a diversified portfolio of assets from major community banks in Chicago and Atlanta.

February 6, 2013

Healthcare Southeast

MEDICAL FACILITY SELLS FOR $14.1M IN SUBURBAN CHARLOTTE

by admin February 6, 2013

MINT HILL, N.C. — Marcus & Millichap has arranged the $14.1 million sale of Mint Hill Medical Commons, a 42,300-square-foot medical care facility in Mint Hill. The property, located at 11304 Hawthorne Drive, is 92 percent leased to the Charlotte Mecklenburg Hospital Authority, operating as Mint Hill Primary Care. Glen Kunofsky, Judson Kauffman and Allen Smith of Marcus & Millichap represented the seller, a Charlotte-based developer, in the transaction. Kunofsky and Russell Wachtler of Marcus & Millichap represented the buyer.

February 6, 2013

Industrial Southeast

SMT DUTY FREE RELOCATES, EXPANDS LEASE BY 25,000 SF

by admin February 6, 2013

DORAL, FLA. — SMT Duty Free Inc., a duty-free retailer, has signed a lease for 50,000 square feet at 8935 NW 27th St. in Doral. The company is doubling its square footage from 25,000 square feet and relocating from Beacon Centre. Steven Medwin and Nick Wigoda of Jones Lang LaSalle represented the landlord, IndCor Properties, in the transaction. Scott Hardie of Miami Industrial Real Estate represented the tenant.

February 6, 2013

Industrial Southeast

COMMUNICATIONS PROVIDER RENEWS 205,700 SF LEASE IN GEORGIA

by admin February 6, 2013

SUWANEE, GA. — Anixter, a Chicago-based provider of communication products, has signed a 205,700-square-foot lease renewal at 250 Horizon Drive, a 267,600-square-foot distribution building in Horizon Business Center in Suwanee. The company has occupied the building since it opened in May 1998. Best Buy occupies the remaining 61,600 square feet in the property. The owner, Duke Realty, was self-represented by Brian Sutton in the transaction. Nathan Anderson and Darren Butler of NAI Global represented the tenant.

February 6, 2013

Multifamily Southeast

WOOD PARTNERS BREAKS GROUND ON 200-UNIT LAKEFRONT APARTMENT COMMUNITY

by admin February 5, 2013

ORLANDO, FLA. — Wood Partners has started construction on a 200-unit apartment community on Spring Lake in Orlando. The site, located at the northwest corner of Sand Lake and Turkey Lake roads, is a quarter mile from I-4 and three miles from Walt Disney World. The urban-style community will include 17,000 square feet of retail space, to be owned by The Wilder Cos. The apartment units will average 1,056 square feet and community amenities will include a leasing center, clubhouse, pool and fitness center. Construction is slated for completion in 2014. Real Estate Capital Partners is Wood Partners' equity partner in the project and Synovus Bank is the lender.

February 5, 2013

Southeast

PLUM CREEK, ROCKEFELLER TO PURSUE JV DEVELOPMENT IN THE SOUTHEAST

by admin February 5, 2013

LAKE CITY, FLA. — Plum Creek Timber Co. Inc. and the Rockefeller Group will pursue a joint venture development on 4,722 acres of land in the Southeast. Plans for the property, which is owned by Plum Creek, include manufacturing and distribution facilities, inland ports and office buildings. The agreement covers two large tracts of land: about 2,600 acres near Lake City in Columbia County, Fla., and about 2,122 acres near Dublin, in Laurens County, Ga. The companies have also agreed to review other land parcels owned by Plum Creek for consideration of future development opportunities. No timetable for evaluating potential developments has been announced.

February 5, 2013

Industrial Southeast

YUSEN RENEWS 178,000 SF INDUSTRIAL LEASE IN FLORIDA

by admin February 5, 2013

DORAL, FLA. — Yusen Logistics Americas, a freight forwarding and supply chain services company, has renewed its lease for 178,000 square feet of industrial space at 10200 NW 21st St. and 10000 NW 17th St. in Doral. Steven Medwin and Nick Wigoda of Jones Lang LaSalle represented the landlord, IndCor Properties, in the transaction. Stephen DiGiacomo of DiGiacomo Group represented the tenant.

February 5, 2013

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