Southeast

ARA BROKERS MULTIFAMILY PORTFOLIO SALE

by admin January 31, 2012

DELRAY BEACH, FLA. — ARA has arranged the sale of a two-property multifamily portfolio, located in Delray Beach. The properties include the 149-unit The Fountains at Delray Beach, located at 14401 S. Military Trl., and the 148-unit Water's Edge, located at 500 N. Congress. Each property is currently 94.6 percent leased. Avery Klann, Hampton Beebe and Marc deBaptiste of ARA's Boca Raton, Fla., office represented the seller, Irving, Texas-based Archon Group, in the transaction. The buyer was Acumen Real Estate.

January 31, 2012

MD. INDUSTRIAL BUILDING SELLS FOR $1.5M

by admin January 31, 2012

CAMBRIDGE, MD. — A 30,240-square-foot flex industrial building, located at 828 Fieldcrest Dr. in Cambridge, has been sold for $1.5 million. ABC Supply Co. formerly leased the building. Henry Hanna of Salisbury, Md.-based Sperry Van Ness-Miller Commercial Real Estate, represented the seller, the Maryland Economic Development Corp., in the transaction. The buyer was Triple Ventures.

January 31, 2012

Industrial Southeast

DAESIN ROBOT BUYS ALA. INDUSTRIAL PROPERTY

by admin January 31, 2012

OPELIKA, ALA. — Daesin Robot has completed the lease purchase of a 45,500-square-foot manufacturing building, located at 404 Fox Run Rd. in Opelika. David Barber of Binswanger's Atlanta office represented the seller, ATA Investments, in the transaction. Montgomery, Ala.-based Century 21 Brandy Wright Realty represented the buyer.

January 31, 2012

Multifamily Southeast

NORTHMARQ SECURES $29.4M MORTGAGE

by admin January 31, 2012

TUSCALOOSA, ALA. — NorthMarq Capital has arranged $29.4 million in refinancing for the 210-unit Woodlands of Tuscaloosa Phase II, located at 1100 Hargrove Rd. E. in Tuscaloosa. The student housing development is located near the University of Alabama. Bruce Foster of NorthMarq's Atlanta office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac.

January 31, 2012

Civic Southeast

SCAD BUYS CRITES HALL FOR $2.6M

by admin January 30, 2012

SAVANNAH, GA. — The Savannah College of Art and Design (SCAD) has purchased the 39,650-square-foot Crites Hall, located at 217 Martin Luther King Jr., Blvd. in Savannah, from GE Capital for $2.6 million. SCAD originally signed a 10-year lease for the building in December 2000. The buyer has invested more than $2 million in renovations. The building contains classrooms, lecture halls, dance rehearsal studios, a 150-seat theater, a set design shop, offices and conference rooms. Rex Benton and Dickey Mopper of Savannah-based NAI Savannah represented the seller in the transaction.

January 30, 2012

Industrial Southeast

FLA. INDUSTRIAL BUILDING SELLS FOR $2.25M

by admin January 30, 2012

ARCADIA, FLA. — A 41,242-square-foot industrial building, located at 6018 SW Hwy. 72 in Arcadia, has been sold for $2.25 million. Gary Tasman and Shawn Stoneburner of Fort Myers, Fla.-based Cushman & Wakefield, Commercial Property Southwest Florida, represented Banc of America Leasing, the seller, in the transaction. Mark Mizell of Mulberry, Fla.-based Land South Realty represented the buyer, Cumberland and Western, which will use the property to manufacture roofing tile.

January 30, 2012

Industrial Southeast

AVNET RENEWS 103,131 SF LEASE

by admin January 30, 2012

MIAMI — Avnet has signed a 103,131-square-foot lease renewal at Beacon at 97th, an industrial property located at 2011 NW 97th Ave. in Miami. Carol Ellis-Cutler of Colliers International's Miami office represented the tenant in the lease transaction. Brian Smith of Cushman & Wakefield's Miami office represented KTR Capital Partners, the landlord.

January 30, 2012

Retail Southeast

PCCP PROVIDES $16M RETAIL LOAN

by admin January 30, 2012

CHAPEL HILL, N.C. — PCCP has provided a $16 million senior loan to recapitalize the 367,623-square-foot University Mall, located at the intersection of Route 15/501 and South Estes Drive in Chapel Hill, which is owned by Madison Marquette. Dillard's, Rose's, Harris Teeter and A Southern Season anchor the shopping center, which is 89 percent leased. Madison Marquette plans to invest an additional $7.5 million in capital to continue the property's repositioning and value enhancement strategy. Mark Remington and Jordan Lex of HFF's Washington, D.C., office arranged the financing.

January 30, 2012

Multifamily Southeast

MERIDIAN ARRANGES $14M MULTIFAMILY LOAN

by admin January 30, 2012

ROCKVILLE, MD. — Meridian Capital Group has secured a $14 million Fannie Mae conventional loan for the 162-unit Woods Edge Apartments, located at 14002 Cove Ln. #201 in Rockville. Jacob Katz of Meridian's Bethesda, Md., office arranged the 10-year, fixed-rate loan with full-term interest only through Beech Street Capital on behalf of the borrower, a Rockville asset development company.

January 30, 2012

Healthcare Southeast

GROUND BREAKS ON $23.1M HOSPITAL EXPANSION

by admin January 27, 2012

FORT STEWART, GA. — McCarthy Building Cos. has broken ground on the $23.1 million expansion and renovation of The Winn Army Community Hospital at Fort Stewart, located at 1061 Harmon Ave. in Fort Stewart. Construction will include a new 65,000-square-foot building and the renovation of approximately 1,000 square feet of the existing hospital. The project is targeted to achieve LEED Silver Certification. The U.S. Army Corps of Engineers, Savannah District, is overseeing the contract and construction, and Leo A. Daly is the architect for the project. The new hospital building will include physical and occupational therapies, orthopedics, podiatry, social services and behavioral health. Completion is slated for September 2013.

January 27, 2012

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