ST. PETERSBURG, FLA. — Atlanta-based Halpern Enterprises has purchased the 46,020-square-foot The Shoppes at The Royale, located at 1400 66th St. N. in St. Petersburg, from Tyrone Crossings Investors for $7.55 million. Tenants include Jimmy John's, Chipotle, Pei Wei, Five Guys Burers & Fries, Massage Envy, Smoothie King, Verizon Wireless and Rib City. The center will be renamed The Village at Tyrone. Michael Milano of Colliers International's Tampa Bay, Fla., office, along with Cynthia Shelton of the firm's Orlando, Fla., office represented the seller in the transaction. The buyer was self-represented.
BETHESDA, MD. — Equity Residential has acquired the 122-unit Chase at Bethesda Metro, an apartment high-rise located at 4903 Edgemoor Ln. in Bethesda. Dean Sigmon and Robin Williams of Transwestern's Bethesda office represented the seller, a joint venture between Rockwood Capital and ROSS Development & Investment, in the transaction.
SALISBURY, MD. — Brick, N.J.-based Tryko Partners has purchased the 209-unit Pemberton Manor Apartments, located at 1020 Fairground Dr., from HUD for $4.8 million at an auction. The company will invest approximately $1 million in capital improvements, including new doors, upgraded appliances, new carpeting in many units, fresh paint, updated landscaping and repaving.
RALEIGH, N.C. — The $4.6 million conversion and renovation of the 190-room DoubleTree by Hilton Raleigh-Brownstone University, located at 1707 Hillsborough St. in Raleigh, has been completed. The hotel was previously a Holiday Inn. Highlights of the renovation include the redesign and upgrades of all guest rooms, a newly designed open lobby concept with a large atrium fireplace, new lounge seating and a multipurpose library.
FORT LAUDERDALE, FLA. — The 73,149-square-foot Executive Airport Business Center, located at 1801-1925 S. Perimeter Rd. in Fort Lauderdale, has been sold for $3.4 million. The property contains three single-story office and office/flex buildings. Marty Busekrus, Scott O'Donnell and Dominic Montazemi of CBRE's Boca Raton, Fla., office, represented KAS Airport, the buyer, in the transaction. The seller was Berkadia.
WASHINGTON, D.C. — A 175,127-square-foot office and retail building, located at 1400 Eye St. NW in Washington, D.C., has been sold for $58.45 million. Tenants of the property includE Campaign for Tobacco-Free Kids, The One Campaign, African Development Foundation, the District of Columbia Police Department and Stein McEwen. Transwestern represented New York City-based Joss Realty Partners, the seller, in the transaction. The buyer was Chevy Chase, Md.-based Zuckerman-Gravely Development.
VIRGINIA BEACH, VA. — Cushman & Wakefield/Thalhimer has arranged the $5.4 million sale of Parkway 3 & 4, two office/warehouse buildings totaling 64,186 square feet located at 2697 International Pkwy. in Virginia Beach. Katherine Campbell of Cushman & Wakefield/Thalhimer's Virginia Beach office represented Virginia Beach-based Continental Properties Corp., the seller, in the transaction and procured the buyer, Santa Fe, N.M.-based Rosemont Realty.
PLANTATION, FLA. — The 32,688-square-foot Bank of America at Grove East, an office building located at 3800 Broward Blvd. in Plantation, has sold for $5.35 million. The building is fully leased to Bank of America and Chrysalis Health. Douglas Mandel of Marcus & Millichap's Ft. Lauderdale, Fla., office, along with Benjamin Silver of the firm's Miami office, represented the seller, a Coral Gables, Fla.-based private investor, in the transaction and procured the buyer, an Austin, Texas-based investment fund.
WASHINGTON, D.C. — Washington, D.C.-based MAC Realty Advisors has brokered the $5.01 million sale of the 44-unit The Warner, an apartment building located at 2620 13th St. NW in Washington, D.C. The buyer plans to renovate the building while preserving 20 percent of the units as affordable housing. MAC represented 2620 LP./District of Columbia Castle Management Corp. and Boston Capital, the sellers, in the transaction. The buyer was New York City-based Aria Partners.
ORLANDO, FLA. — The 7,527-square-foot former Bola Restaurant, located at 8148 International Dr. in Orlando, has sold for $2.7 million. The buyer plans to renovate the building and expand it to 8,500 square feet for a new Kobe Japanese Steakhouse restaurant. Completion is slated for May of 2012. Kevin O'Connor and Matt Cichocki of Maitland, Fla.-based NAI Realvest represented Brooklyn, N.Y.-based Hollywood Plaza Holdings, the seller, in the transaction. Jon Rose of Charles Wayne Properties' Maitland office represented Altamonte Springs, Fla.-based TC Holdings-International Drive, the buyer.