DORAL, FLA. — Fraga Properties has broken ground on the 8,000-square-foot Phase II of the 40,000-square-foot Shops of Doral, located at N.W. 74th Street and N.W. 107th Avenue in Doral. Development costs will exceed $1 million. Current tenants include CVS/pharmacy, Bank of America, Wine & Spirits Emporium, Subway, Metro PCS and more. Completion is slated for spring 2012.
WOODBRIDGE, VA. — A joint venture between Starwood Capital Group Global and The Bainbridge Cos. has broken ground on the 294-unit Bainbridge River Oaks Apartments, located at 2940 Shumard Oak Dr. in Woodbridge. Raleigh, N.C.-based Cline Design designed the Craftsman Style buildings. Amenities will include a pool and sun deck, as well as a clubhouse with a fitness center, cyber cafe, billiards area and business lounge. The first units are expected to be completed in summer 2012, with full completion slated for early 2013.
SANDY SPRINGS, GA. — Roberts Properties has selected Baker Barrios Architects to oversee architecture, planning and landscaping for the $28 million, 216-unit Northridge apartment complex, located in Sandy Springs. Amenities include a clubhouse with a high-definition theater and a signature fireplace, as well as a fitness center. Ground breaking is anticipated in the first quarter of 2012 with completion slated for spring 2013.
HOOVER, ALA. — Tameron Automotive Group has acquired a 40,242-square-foot retail site, located at 1591 Montgomery Hwy. in Hoover, from Frank Schilleci for $1.5 million. A 7,988-square-foot former Long Horn Steak House sits on the site. Tameron, which owns and operates a Hyundai dealership adjacent to property, will use the land for a $4 million expansion and development of a new prototype dealership. An additional expansion is planned in 2013. Finch Properties represented the seller in the transaction and J. Claude Tindle of Birmingham, Ala.-based Longleaf Realty Partners represented the buyer.
BIRMINGHAM, ALA. – The 113-unit Sandpiper, an apartment complex located at 741 Barcelona Ct. in Birmingham, has been sold for $1.87 million. Jimmy Adams of Southeast Apartment Partners' Birmingham, Ala., office represented the seller, 741 Barcelona Court Holdings, in the transaction and procured the buyer, Sandpiper HLD.
KNOXVILLE, TENN. — Bob Thorton of Knoxville-based Baker Realty Co. has negotiated four lease transactions in Knoxville, totaling 155,000 square feet. The transactions include: Guardian Building Products leasing the 37,210-square-foot Cedar Bluff Building, a distribution center, from NatKnox; Batesville Casket leasing 9,797 square feet of office and warehouse space from Sam Farrow; J.B. Hunt Transport leasing 18,000 square feet of warehouse space from J&J Properties; and ABC Supply signing a 100,000-square-foot lease for warehouse space from Mullins, D.C. Thorton represented both parties in all four transactions.
ORLANDO, FLA. — Marcus & Millichap has brokered the $5.25 million sale of a 13,013-square-foot CVS/pharmacy, located at 7300 Curry Ford Rd. in Orlando. Mark Thompson of the Marcus & Millichap's Orlando office represented the seller, a limited liability company, and Gabriel Britti of the firm's Miami office represented the buyer, a private investor.
CHARLOTTE, N.C. – Mt. Pleasant, S.C.-based Ziff Properties has purchased the 60,000-square-foot Maplecrest Industrial Center, located at 2905 Westinghouse Blvd. in Charlotte, for $2.3 million. The buyer was self-represented by Christian Chamblee and Shaun Payne. Rob Speir of Colliers International and Brad Cherry of Jones Lang LaSalle represented the seller.
CENTER POINT, ALA. — The 104-unit Parkway East, a multifamily property located at 1817 Amberwood Dr. in Center Point, has been sold for $1.44 million. Jimmy Adams of Southeast Apartment Partners represented the seller, 1817 Amberwood Drive Holdings, in the transaction. The buyer was Alabama-based The Aletheia House, Inc.
SPRING LAKE, N.C. — Walker & Dunlop has arranged a $13.5 million acquisition loan for the 291-unit River's Edge Apartments, located at 1166 Pine Knoll Dr. in Spring Lake, on behalf of Priderock Capital Partners. The 7-year loan has a 30-year amortization schedule and was secured through Freddie Mac's CME Program.