BERKELEY COUNTY, W.V. — Macy's Inc. is planning to develop a 1.3 million-square-foot fulfillment center near Martinsburg in Berkeley County. Construction is scheduled to begin in spring 2011, with operations commencing in April 2012. The company is currently deciding between two sites in Berkeley County. When fully operational, the facility will employ approximately 1,200 full- and part-time associates year round.
TEMPLE HILLS, MD. — Rockville, Md.-based The Donaldson Group and its equity partner, New York-based Angelo, Gordon & Co., have acquired Heather Hill Apartment Homes, which is located at 5837 Fisher Road in Temple Hills. The 459-unit property sold for $38 million. Situated on 21 acres, the property is comprised of 18 low-rise buildings. The seller, New York-based Tarragon Corp., sold the property as part of a reorganization following Chapter 11 bankruptcy in 2009. The buyer plans to renovate the property, including community amenities and residential units. Stacey Milam and Victor Nolletii of Marcus & Millichap represented the seller.
WASHINGTON, D.C. — KPMG LLP has signed a long-term lease for two floors at 1801 K Street in Washington, D.C. The approximately 600,000-square-foot building recently underwent a complete renovation and redevelopment designed by Skidmore, Owings & Merrill. In December 2011, KPMG will begin occupying approximately 76,000 square feet of the property, which is seeking LEED Gold certification. The landlord, Somerset Partners, was represented by David Bevirt, Tom Golsen and Carroll Cavanaugh of Jones Lang LaSalle (JLL); Gregory Knoop of Somerset Partners represented the ownership; and KPMG was represented by Phil Leibow, Chris Bynum and Alex Lassar of JLL. KPMG is currently located at 2001 M Street. Terms of the lease were not disclosed.
ATLANTA — Pebblebrook Hotel Trust has received a $52.5 million secured loan from Goldman Sachs Commercial Mortgage Capital. The 5-year loan, which carries a 4.88 percent fixed-annualized interest rate, was collateralized by the 422-unit InterContinental Buckhead Hotel in Altanta's Buckhead district. Proceeds from the loan will be used to fund future acquisitions and for general business purposes.
GREENSBORO, N.C., AND BATON ROUGE, LA. — Atlanta-based ARA has brokered the sales of two student housing communities in North Carolina and Louisiana. In the first transaction, an undisclosed buyer acquired River Walk Apartments in Greensboro for an undisclosed price. Built in 1949 and located near North Carolina A&T State University, the Class B asset offers 223 units and 682 beds. Community amenities include a shuttle bus to campus, a fitness center, a billiards room, a business center and a swimming pool. Chris Epp, Chris Bancroft, Sean Wood, Blake Oakland and Dean Smith of ARA represented the undisclosed seller in the transaction. In the second transaction, The Dinerstein Companies completed the disposition of Sterling Northgate, a 98-unit, 348-bed student housing community located in Baton Rouge. Built in 2006, the property is located within walking distance of Louisiana State University. Community amenities include a resort-style pool and plaza, a state-of-the-art fitness center, a business center, a tanning salon and a computer lab. Epp and Bancroft, along with Matt Heininger of ARA, represented the seller in the transaction. The buyer and acquisition price were not released.
ORLANDO, FLA. — Dallas-based 7-Eleven has signed an agreement to acquire ExxonMobil's retail interests in 183 Florida locations. The transaction is expected to close in early 2011, subject to standard closing conditions and regulatory approvals. Terms of the deal were not released. The acquisition includes a combination of company- and dealer-owned sites located in Orlando, Southwest Florida, Palm Beach and Broward County, Fla. The 183 sites include five unused parcels of land. Additionally, the majority of the locations will be rebranded as 7-Eleven operations, and all will retain the Mobil gasoline brand. Currently, 7-Eleven operates and franchises 610 stores in Florida.
NEW ORLEANS — The Domain Companies is developing South Market District, a mixed-use, transit-oriented development in downtown New Orleans. The encompassing five blocks, the project will offer 450 luxury apartments and 170,000 square feet of upscale retail, restaurants and entertainment venue space. Cooper Carry Architects is providing architectural services for the project. Domain plans to break ground on the first phase in late 2011, with completion expected in the late 2013.
WASHINGTON, D.C. — First Potomac Realty Trust has acquired Longfellow Plaza at 1211 Connecticut Avenue in Washington, D.C. The eight-story, 137,754-square-foot office property sold for $49.5 million. The 100-percent leased building was originally built in 1967 and renovated in 1998 and 2008. The buyer plans to renovate the property's façade and lobby. Norfolk, Va.-based Harbor Group International sold the property. Holliday Fenoglio Fowler brokered the transaction.
CHESAPEAKE, VA. — 201 Dexter LLC has acquired a 452,000-square-foot industrial property for $6 million. The buyer will occupied a portion of the property, which is located on approximately 20 acres at 201 W. Dexter St. in Chesapeake. The seller was Chesapeake Hardwood Products. Clay Culberth of Thalhimer and Stephanie Sanker of S.L. Nusbaum Realty Co. represented the buyer in the transaction.
ARLINGTON, VA. — USAA Real Estate Co. has purchased a fully entitled 1.73-acre development site, located within the Arlington's Courthouse District, from ZOM Inc. for an undisclosed price. The project, 1900 Wilson, will offer 191 multifamily units, totaling 149,915 square feet, and 17,317 square feet of street-level retail space. ZOM has been retained as development manager to oversee the development, construction and lease up of the urban transit-oriented property.