SHREVEPORT, LA. — Lexington Realty Trust has purchased a 258,000-square-foot, build-to-suit industrial facility, located in Shreveport, for $13 million. The newly constructed building is net-leased to The Tire Rack.
Southeast
NORCROSS, GA. — A 55,000-square-foot industrial and showroom building, located at 430 Technology Parkway in Norcross, has sold for $4.5 million. The building is fully leased to Simmons Bedding Co. through 2018 and serves as the company's flagship location. Tom Shafer, John Hinson and CJ Kelly of Atlanta-based Resource Real Estate Partners represented Healey Investments, the seller, in the transaction. 430 Tech Realty LP. was the buyer.
MIAMI — Swire Properties has broken ground on the $1.05 billion Brickell CitiCentre, a 5.4 million-square-foot, mixed-use development located in downtown Miami. The development will include a luxury shopping center, two condominium residences, a hotel, a wellness center, apartments and two office towers. The first phase, which includes all elements except for one office tower, is slated for completion in 2015, with full completion expected in 2018. The project will create approximately 1,000 jobs during construction.
JACKSONVILLE, FLA., AND RICHMOND, VA. — Denver-based UDR has sold 15 unencumbered multifamily properties, located in Phoenix, Dallas, Jacksonville, Fla., and Richmond, Va., for $477 million. The properties total 4,931 units.
MIAMI BEACH, FLA. — Plaza Construction (formerly known as KM/Plaza) has been selected by The LeFrak Organization, Starwood Capital Group and Invesco Ltd. for the $100 million redevelopment of the Perry South Beach Hotel, located at 2377 Collins Ave. in Miami Beach. The 17-story, 345-room hotel will be re-branded following completion. The hotel also offers 259 condominium units. HKS is the lead architect for the project and Nichols Brosch Wurst Wolfe & Assocates will restore the facade. Completion is slated for late 2013.
NASHVILLE, TENN. — A portion of the 700,000-square-foot Nashville West, an upscale, open-air shopping center located in west Nashville, has sold for $73.2 million. The sale includes the inline section from Dick's Sporting Goods to Books A Million, as well as Staples, Party City and PetSmart. Costco, Target and the outparcels were not included in the sale. Parkes Cos. and Newton Oldacre McDonald, the developers, were the sellers in the transaction. The buyer was Delaware-based Nashville West LLC.
CHARLOTTE, N.C. — CBRE Group has secured $119.8 million in acquisition financing for the 678,715-square-foot Fifth Third Center, a Class A office building located at 201 N. Tryon St. in Charlotte. The property is 98 percent leased to tenants that include Bank of America, McGuire Woods, Fifth Third Bank and Carousel Capital. Charles Foschini, Christian Lee and Christopher Apone of CBRE Group secured the two-part financing on behalf of the borrower, Miami-based Parmenter Realty Partners. SunTrust provided a three-year loan and Redwood Commercial Mortgage Corp. provided a mezzanine loan.
MARGATE, FLA. — North American Development Group (NADG) has acquired the 236,679-square-foot Lakewood Shopping Center, located on West Atlantic Boulevard in Margate, for $31.5 million. Marshalls, Ross Dress For Less and Staples anchor the center. Also included in the sale were outparcels occupied by Walgreens, Burger King, Applebee's and Bank of America. A Walmart Supercenter, TD Bank, Boston Market, Denny's and a McDonald's on the property are separately owned and were not included as part of the sale. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE Group's Atlanta office represented the seller, a wholly owned subsidiary of Inland American Real Estate Trust, in the transaction.
JACKSONVILLE, FLA. — The 106-unit San Marco Village Apartments, located at 2165 Dunsford Terrace in Jacksonville, has sold for $3.73 million. Jim Sewell and Steve Mack of Hilton Head, S.C.-based Coastal Apartment Advisors represented the seller, 2165 Dunsford Terrace Holdings, in the transaction. The buyer was Aspen Square Management.
RALEIGH, N.C. — The 87,000-square-foot WakeMed Health & Hospitals' Diagnostic Center, located at the corner of New Bern Avenue and Sunnybrook Road in Raleigh at the WakeMed Raleigh Medical Park, has opened. Duke Realty owns and developed the property and will also lease and manage the medical park. The three-story building offers outpatient imaging, lab services and pre-anesthesia testing. It is the first of several healthcare services to be offered in the medical park. Perkins+Will was the architect for the project, and Brasfield & Gorrie was the general contractor.