SHANNON, GA. — Aladdin Manufacturing Corp. has sold a 565,793-square-foot warehouse and distribution building, located at 212 Burlington Dr. in Shannon, to Ashley Capital. The buyer plans to further develop the facility. David Barber and Dan Stubbs of Binswanger's Atlanta office represented the seller in the transaction.
Southeast
PLANT CITY, FLA. — RCG Ventures has sold the 37,458-square-foot Collins Park Shopping Center, located at the intersection of SR 39 and Park Road in Plant City, to Coastal Equities. A 29,000-square-foot Tractor Supply anchors the center, which is 90 percent leased. Plaza Advisors represented the seller in the transaction.
WASHINGTON, D.C. — State Services Organization has signed a 237,848-square-foot lease at the 550,000-square-foot Hall of the States Building, located at 400-444 N. Capitol St. NW in Washington, D.C. Mindy Saffer, Richard Lane, Eric West and Richard Siegel of Washington, D.C.-based West, Lane & Schlager Realty Advisors represented the tenant in the 15-year lease transaction. Mebar Realty Holding Trust owns the building.
NASHVILLE, TENN. — Noble Investment Group has acquired the 226-room Courtyard by Marriott Nashville Vanderbilt/West End hotel, located at 1901 West End Ave. in Nashville. The buyer plans to invest $7 million in renovations, including an upgraded lobby, addition of a Courtyard Bistro restaurant, a state-of-the-art fitness center, contemporary furnishings and high-tech amenities added to hotel guest rooms and other areas of the hotel.
CORAL GABLES, FLA. — The 18,552-square-foot 1000 Ponce, an office building located at 1000 Ponce de Leon Blvd. in Coral Gables, has sold for $5.15 million. The three-story building is fully leased. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office, along with Benjamin Silver of the firm's Miami office, represented the seller, a Miami-based developer, in the transaction.
CARY, N.C. — Ann Arbor, Mich.-based McKinley has acquired the 248-unit Geneva Park, an apartment complex located at 200 Wrenn Dr. in Cary, on behalf of one of its institutional clients. McKinley will manage the community. The buyer plans to renovate the property, including the sales office, BBQ area, landscaping, lighting and signage, as well as roofing, siding and hallway repairs.
MIAMI — Miami-based Aztec Group has arranged $9.15 million in senior debt financing for the 296-pad Colonial Acres Mobile Home Park, a manufactured housing community located at 9674 NW 10th Ave. in Miami. Howard Taft and Charles Penan of Aztec Group secured the 10-year loan with a 30-year amortization schedule and a 5.45 percent fixed interest rate through Ladder Capital Finance on behalf of the borrower, Liberty Investments.
SPARTANBURG, S.C. — Vesta Equity has provided a $5.2 million bridge loan for the acquisition and renovation of the 369-unit Wildewood Apartments, located at 350 Bryant Rd. in Spartanburg. David Borge of CBRE's Orlando, Fla., office originated the 18-month loan on behalf of the borrower, Bowman Investments.
SPARTANBURG, S.C. — The 369-unit Wildewood Apartments, located at 350 Bryant Rd. in Sparatanburg, has sold for $6.4 million. Tony Bonitati, John Gray and Kay Hill of Greenville, S.C.-based NAI Earle Furman represented the seller in the transaction. Bowman Investments, the buyer, plans to invest $1 million to renovate the property and rebrand it as Woodland Park Apartments.
WASHINGTON, D.C. — New Boston Fund has acquired 67,000 square feet of office space in an 11-story office building, located at 111 K St. NE in Washington, D.C. Jud Ryan of Cassidy Turley's Washington, D.C., office represented J Street Cos., the seller, in the transaction. The property was purchased as part of New Boston Fund VII.