FAIRFAX COUNTY, VA. — NAI KLNB, in conjunction with C-III Realty Services, has brokered the sale of 7200 Fullerton Road, a 79,000-square-foot warehouse in Fairfax County, for $5.5 million. Chris Kubler, Marc Tasker and Ryan Moody of NAI KLNB and Linda Simpson of C-III Realty Services represented the seller, C-III Asset Management LLC. Buyer Curtis Investments was self represented. The building was constructed in 1977 and is located adjacent to the Fairfax County Parkway, Backlick Road and the National Geospatial-Intelligence Agency headquarters building.
Southeast
SMITHFIELD, VA. — Calkain Cos. has facilitated an approximately $3.4 million sale of a Tractor Supply Co. store in Smithfield. A private 1031 investor acquired the retail property. A full-service commercial real estate development firm based in the mid-Atlantic region sold the property. Andrew Fallon of Calkain Cos. represented the buyer.
HOLLYWOOD, FLA. — The Seminole Tribe of Florida Inc. and Stiles Construction, a division of Stiles, have partnered to create Seminole Development and Construction LLC. The newly created venture provides both Seminole Tribe of Florida and Stiles with access to a range of real estate construction project opportunities within the Native American tribal network and also includes projects planned under the auspices of the U.S. federal government. The first project to emerge from the partnership is Seminole Classic Casino, a 140,000-square-foot renovation at 4150 N. State Road 7 in Hollywood. Other Seminole projects in the pipeline include Brighton Public Safety Complex and a new Noodle Bar at the Hard Rock Seminole Casino. The Seminole Tribe of Florida is headquartered in Hollywood.
FLORIDA AND ALABAMA — CBRE Capital Markets has arranged approximately $60.1 million in financing for the acquisition of seven shopping centers in Florida and the refinance of a 135,000-square-foot Lowe’s Home Improvement in Opelika, Ala. on behalf of H&R REIT. The Florida properties include: The Shops at Mission Trace in St. Augustine, Fla. Corridors at Ponte Vedra in Ponte Vedra Beach, Fla. First Merritt Center in Merritt Island, Fla. Mandarin Oaks in Jacksonville, Fla. Publix at Holly Hill in Daytona, Fla. Publix at Summer Bay in Clermont, Fla. Regency Village in Orlando, Fla. The purchase price for the seven Florida shopping centers totals $80.4 million. Six of the seven shopping centers are anchored by Publix. Corridors at Ponte Vedra is anchored by Fresh Market. H&R REIT is a Toronto Stock Exchange listed, open-ended real estate investment trust.
ANNAPOLIS JUNCTION, MD. — TA Associates Realty has acquired a 144,571-square-foot distribution warehouse at 9060 Junction Dr. in Annapolis Junction for $8.25 million. The industrial property is 48 percent leased with immediate access to Route 32 and Interstates 95 and 295. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Emory Properties.
BETHESDA, MD. — HFF has financed Phase I of The Fairmount, a planned 17-story, 70-unit condominium project at the corner of Old Georgetown Road and Fairmount Avenue in Bethesda on behalf of 4990 Fairmount LLC. A $6.5 million acquisition and pre-construction loan was arranged through Bank of Georgetown. Sue Carras, Walter Coker and Brian Crivella led the HFF debt and equity team and Martin McCarthy led the Bank of Georgetown team.
BETHESDA, MD. — Toll Brothers Inc., a developer of luxury homes, is expanding its services and opening a greater Washington, D.C. office for its new division called Toll Brothers City Living. The new office in Bethesda has been assembled to acquire, develop and build luxury urban residences. Toll Brothers owns two adjacent development sites along the Capitol Riverfront in downtown Washington, D.C. that will become rental communities under its new brand. In addition, the residential development company has acquired a site at 4915 Hampden Lane in Bethesda with plans for a seven-story building with approximately 60 luxury condominium residences and underground parking.
WASHINGTON, D.C., AND CHARLOTTE, N.C. — Stream Realty Partners has opened two new offices in Washington, D.C., and Charlotte. Kyle Luby will lead the Washington, D.C., office and Daniel Farrar will lead the Charlotte office. These are the ninth and tenth locations nationwide for Dallas-based Stream Realty Partners, which represents a diverse mix of local, national and international clients as well as leases and manages a portfolio of more than 95 million square feet of office, industrial and retail properties.
MEDLEY, FLA. — A joint venture between Butters Construction & Development and L&B Realty Advisors will develop a $100 million, 918,000-square-foot Class A bulk distribution industrial park called Airport North Industrial Park in Medley. It is located on a 44.5-acre site at N.W. 87th Avenue and N.W. 80th Street. CBRE Capital Markets procured L&B Realty Advisors and its client, the State of Florida, as Butters Construction & Development’s equity partner for the deal. Airport North Industrial Park will include four institutional-quality industrial buildings. Site development will commence in the first quarter of this year and vertical construction in the second quarter of this year.
SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have formed a 35/65 joint venture to develop Fremaux Town Center in two phases at Interstate 10 and Fremaux Avenue in Slidell. Phase I will include approximately 295,000 square feet with anchors Dick’s Sporting Goods, Michaels, TJ Maxx and Kohl’s. Additionally, Phase II will include up to 300,000 square feet of retail space. Construction on Phase I will begin in March and the grand opening is scheduled for the second quarter of 2014. Fremaux Town Center is more than 70 percent leased.