PETERSBURG, VA. — McWane Inc. has sold a 104,000-square-foot industrial facility, located at 23209 Airpark Dr. in McWane, to Consolidated Process & Packaging for $1.77 million. Richard Porter of Richmond, Va.-based Porter Realty Co. represented the seller in the transaction.
LILBURN, GA. — Burlington Coat Factory has signed a 54,817-square-foot lease to occupy a former Publix at the 112,990-square-foot Killian Hill Center, located at 4051 Hwy. 78 in Lilburn. The Shopping Center Group represented the tenant in the lease transaction, and The Bedrin Organization represented Killian Hill Acquisition LLC, the landlord. The store is slated to open this fall.
MIAMI — NorthMarq Capital has arranged $5.5 million in first mortgage refinancing for the 112,855-square-foot Transal Park, an industrial property located at 8305 NW 27th St. in Miami. Jeff Robertson of NorthMarq's Miami office secured the 10-year loan with a 25-year amortization schedule through State Farm Life Insurance Co.
SPARTANBURG, S.C. — A joint venture between New York City-based The Praedium Group and Chartwell Holdings has acquired the 496-unit Haven at Oak Forest and the 204-unit Haven at North Town in Spartanburg, for $36.9 million. Haven at Oak Forest is located at 200 Health Ln., and Haven at North Town is located at 458 N. Church St. Amenities at both properties include a swimming pool, clubhouse with full Wi-Fi access, a fitness center, playground, nature walking trails, community car wash and grilling areas. Blake Oakland of ARA's Charlotte, N.C., office represented the seller in the transaction.
BOCA RATON, FLA. — Marcus & Millichap has arranged the $6.25 million sale of the 70,000-square-foot The Courtyard, a four-story office building located at 5301 N. Federal Hwy. in Boca Raton. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office, along with Benjamin Silver of the firm's Miami office, represented the seller, a Boca Raton-based partnership, in the transaction. The buyer was a local investor in a 1031 exchange.
MORRISTOWN, TENN. — A 47,600-square-foot Food City, located at 4100 Cool Springs Rd. in Morristown, has sold for $4.7 million. Food City has more than 10 years remaining on its lease for the stand-alone store. Nancy Miller and Sheree Strome Berk of Atlanta-based Bull Realty represented the seller, Foodmor Associates, in the transaction. Tom Kallenbach represented the buyer, B.B. & J. Holdings.
PENSACOLA, FLA. — A 356-unit multifamily portfolio, which contains six properties located in Pensacola, has sold for $4.5 million. The properties include the 40-unit Aspen Village, the 36-unit Crow Road, the 96-unit Dogwood Place, the 18-unit Guidy Lane, the 34-unit Myrtle Grove Villas and the 132-unit Wellington Arms. Clint Hale of Jacksonville, Fla.-based Just Multifamily represented Amvestar Capital, the buyer, in the all-cash transaction. Gerald Smith and Geoff Harlan of Orlando, Fla.-based Smith Equities Real Estate Investment Advisors represented the seller, Wellington Arms Properties, which had foreclosed on the properties in 2009.
LITHIA, FLA. — NorthMarq Capital has arranged $4.81 million in first mortgage refinancing for the 59,895-square-foot Shoppes of Fishhawk, located at 16751 Fishhawk Blvd. in Lithia. Sweetbay Supermarket anchors the center. Alison Williams of NorthMarq's Tampa, Fla., office arranged the 10-year loan with a 25-year amortization on behalf of the Tampa-based borrower through UBS — CMBS Platform.
WASHINGTON, D.C. — A partnership between Washington, D.C.-based Urban Investment Partners and New York City-based Infinity Real Estate has acquired a 114-unit apartment building, located at 1841 Columbia Rd. NW in Washington, D.C., from Fairfield Residential Co. for $26 million. The property includes 20,000 square feet of retail space. The buyer plans to invest more than $7 million on a comprehensive building renovation and modernization program, which will include a complete window and storefront replacement, addition of an environmentally friendly water-sourced heating and cooling system, redesigned common areas and a rooftop terrace. Additionally, the building, formerly known at The Alcazar, will be renamed 1841 Columbia. Completion is slated for December 2012. Arbor Commercial Mortgage of New York provided acquisition and project debt financing.
PALM BEACH GARDENS, FLA. — A joint venture between DeBartolo Development and Elco Landmark Residential has purchased the 542-unit Landmark at Garden Square, located at 4104 Union Square Blvd. in Palm Beach Gardens. The property, formerly known as Landmark at Union Square, will undergo improvements during the next 6 months. The property is 92 percent leased, and includes three pools, a clubhouse, state-of-the-art fitness center, business center, movie theater, tennis court, billiards room and a 9-hole putting green.