TAMPA, FLA. — Institutional Property Advisors (IPA) has arranged the $12.6 million sale of the 168-unit Waterstone at Carrollwood Apartment Homes, an apartment complex located at 3339 Handy Rd. in Tampa. Jamie May of IPA's Tampa office represented Landmark Residential, the seller, in the transaction and procured the buyer, Robbins Property Associates. Amenities include a clubhouse with an Internet cafe, a resort-style swimming pool, a tennis court, a fitness center and a children's play area.
ALTAMONTE SPRINGS, FLA. — Crescent Resources has started construction on a 199,777-square-foot, six-story office building and parking garage, located in Altamonte Springs, for Adventist Health System. The new facility is adjacent to the new 153,864-square-foot Adventist Health Systems headquarters, located at 900 Hope Wy., which opened in December. The new building, slated for completion in spring 2013, will house support operations. Little is the project architect, Brasfield & Gorrie is the contractor and Parsons is the project consultant.
CORAL GABLES, FLA. — AJP Ventures has topped off the $9 million, 58,000-square-foot The Building, located at 2990 Ponce de Leon Blvd. in Coral Gables. The Class A office building is slated for completion in June. The Building is 65 percent pre-leased to tenants, which include Zubi Advertising and Mas Group. A joint venture between Juan Carlos of The Mas Group of Companies and TAZ Partners is developing the property.
ATLANTA — Starwood Hotels & Resorts Worldwide has sold the 275-room Atlanta Perimeter Hotel & Suites, located at 111 Perimeter Center W. in Atlanta, to RockBridge Partners for an undisclosed price. The buyer has committed to extensive property enhancements, slated for completion in October 2014, after which the hotel will be rebranded as a Starwood Le Méridien hotel. The property will be franchised and managed by Minnetonka, Minn.-based Wischermann Partners.
JASPER, GA. — Marcus & Millichap has negotiated the sale of the 61,549-square-foot Shops at Jasper, located at 934 E. Church St. in Jasper. A 14,538-square-foot Save-A-Lot and a 15,000-square-foot Beall's Department Store anchor the center, which is 93 percent leased. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller, an Ann Arbor, Mich.-based private company, in the transaction. A California-based private investor was the buyer.
SPARTANBURG, S.C. — STAG Industrial has acquired a 409,600-square-foot warehouse and distribution center, located in Spartanburg, for $9.1 million. The property includes four adjoining buildings, which are fully leased to Louis Dreyfus Commodities Cotton Storage. The tenant has 4 years remaining on the lease term. Grice Hunt and Ford Borders of Greenville, S.C.-based NAI Earle Furman represented Bridgeport Properties National, the seller, in the transaction.
FLORENCE, S.C. — St. Paul, Minn.-based AEI Capital Corp. has purchased a 4,200-square-foot Vitamin Shoppe building, located in Florence, for $1.54 million. The tenant is on a long-term lease for the single-tenant building. Steve Horvath of Charlotte, N.C.-based Berkeley Capital Advisors represented the seller in the all-cash transaction. The buyer was self-represented by Ian Harrison.
DORAL, FLA. — Intcomex has signed a long-term lease extension for its 172,926-square-foot headquarters at the International Distribution Center at Doral, located at 3505 NW 107th Ave. in Doral. Walter Byrd, Ben Eisenberg and Thomas Kresse of Transwestern's Miami office represented the landlord, Clarion Partners, in the transaction.
LITTLE ROCK, ARK. — The 256-unit Forest Place Apartments, located at 1421 N. University Ave. in Little Rock, has sold for $17.6 million. The buyer plans to install new roofs on the buildings and renovate the property. Rick Freeling of Rector Phillips Morse Inc./CORFAC International's Little Rock office represented the seller, Little Rock-based Forest Place Joint Venture, in the transaction and procured the buyers, two affiliates of with Kansas City, Mo.-based Maxus Realty Trust.
GASTONIA, N.C. — Capstone Apartments Partners has arranged the $6.25 million sale of the 176-unit Bluffs at Northwoods, an apartment complex located at 1850 Yellowstone Ct. in Gastonia. Amenities include a clubhouse, pool, fitness center, tennis courts and laundry center. Brian Ford and Beau McIntosh of Capstone's Charlotte, N.C., office represented the seller, Willamette Property Holdings, in the transaction. The buyer was a private investor.
