SARASOTA, FLA. — Sarasota-based CORE Construction has acquired the assets of Kansas City, Mo.-based Walton Construction to form Walton Construction – a CORE Company. The acquisition includes a substantial portion of Walton's existing projects and assets as well as approximately 240 Walton Construction employees.
MIAMI — Addison, Texas-based Behringer Harvard has acquired a nine-building medical office portfolio totaling more than 610,000 square feet in the Miami-Fort Lauderdale metro area. In addition to the buildings, the portfolio includes 7.8 acres of undeveloped land adjacent to the Florida Medical Center in Fort Lauderdale. The portfolio includes Gardens Medical Pavilion, a five-story, more than 75,000-square-foot medical office building at 3401 PGA Blvd. in Palm Beach Gardens; Victor Farris Building, a nine-story, 148,000-square-foot Class A property located on the campus of Good Samaritan Medical Center at 1411 N. Flagler Dr. in West Palm Beach; Palmetto Medical Plaza, an eight-story, 130,000-square-foot facility located at 7100 W. 20th Ave. on the campus of Palmetto General Hospital in Hialeah; Hialeah Medical Plaza, a five-story, 72,000-square-foot building located at 777 E. 25th St. on the Hialeah Hospital campus in Hialeah; and North Shore Medical Arts, a four-story, 56,000-square-foot property located on the campus of North Shore Medical Center at 1190 N.W. 95th St. in Miami. The portfolio also includes four medical office buildings totaling more than 207,000 square feet at Florida Medical Center in Fort Lauderdale: FMC Medical Mall, FMC North, FMC Central and FMC East. Behringer Harvard plans to invest more …
WEST PALM BEACH, FLA. — Miller Construction Co., serving as general contractor, has completed the construction of a 30,000-square-foot facility for Republic Services. The company plans to use the office/maintenance facility for its West Palm Beach-based truck fleet. Located on 10 acres at 7329 Seventh Place N. in West Palm Beach, the two-story building features offices, a state-of-the-art maintenance shop and support space with locker rooms and training areas for more than 100 truck drivers. The property is pre-registered to achieve LEED certification. The project's design team included Falkanger Snyder Martineau & Yates, KAMM Engineering and Craven Thompson & Associates.
ALTAMONTE SPRINGS, FLA. — Marcus & Millichap has brokered the sale of Assured Self Storage, which is located at 510 Douglas Ave. in Altamonte Springs. Built in 1998, the 84,471-square-foot facility sold for $5.38 million. Michael Mele of Marcus & Millichap represented the undisclosed seller and undisclosed buyer in the transaction.
LAUDERDALE LAKES, TAMPA AND GOLDEN GATE, FLA. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded three loans totaling $13.62 million for multifamily properties in Florida. The company provided a $8.87 loan to Hawaiian Palms, a 245-unit apartment property in Lauderdale Lakes. The 10-year loan amortizes on a 30-year schedule. Additionally, the 100-unit Parkview Apartments in Tampa received a $2.75 million loan, which carries a 10-year term and a 30-year amortization schedule. In the third transaction, the 44-unit Solana Villas Apartments in Golden Gate received a $2 million loan. The 10-year loan carries a 30-year amortization schedule. Alex Kaushansky of Arbor originated the loans, which were funded by the Fannie Mae DUS Loan and the Fannie Mae DUS Small Loan product lines.
WASHINGTON, D.C. — The GW Medical Faculty Associates (MFA) has purchased a nine-story building in Washington, D.C. Located at 2300 M St., the property offers 120,000 square feet of Class A office space. A partnership comprised of the Carlyle Group and AON sold the property for $49.5 million. The building is currently occupied by the German Embassy on a short-term, swing-space lease. When the embassy moves out in 2013 and 2014, the MFA will renovate the property and begin to occupy the 70,000 square feet vacated by the embassy. MFA plans to immediately occupy the building's existing vacant space. David Lipson, Arthur Greenberg, Vernon Knarr and Adam Schindler of Studley represented MFA; John Kevill and James Malloy of Jones Lang LaSalle represented the seller in the transaction.
CLERMONT, FLA. — Sundance Clermont LLC has acquired Sundance apartment community for $23.6 million. Located on Johns Lake Road in Clermont, the 300-unit property is currently 96 percent occupied. Cole Whitaker of Hendricks & Partners represented the seller, CAPREIT, in the transaction.
NORTH WILKESBORO, N.C. — Colliers International has brokered the sale of an industrial property in North Wilkesboro. Shepard Real Estate purchased the 376,000-square-foot industrial building, located at 1101 D St., for an undisclosed price. Brent Beshears of Colliers International represented the buyer and the seller, La-Z-Boy, in the transaction.
DOTHAN, ALA. — Montgomery, Ala.-based Aronov Realty Management has opened two shopping centers in Dothan. The company simultaneously opened the 76,740-square-foot Westway Shopping Center and the 63,800-square-foot Cottonwood Corners Shopping Center. Both centers are anchored by Publix and are fully leased with all stores opening in the next 30 to 90 days. Aronov currently owns more than 150 properties in the Southeast.
WASHINGTON, D.C. — Locally based Urban Investment Partners (UIP) has commenced a $4.8 million gut renovation of The Warrington and The Wilmington, two historic apartment buildings at 1801 and 1811 Wyoming Avenue N.W. in Washington, D.C. The majority of the 43 fully renovated units will be sold as WY18 condominiums in 2011. The revamped buildings will feature modern, upscale amenities including rooftop party decks and wet bars, GE Cafe-series appliances, energy-efficient windows and water-saving dual-flush commodes, iPod docking stations, expanded closets and storage areas, and new heating, cooling, wiring and plumbing. Additionally, the renovation will include the retail store fronts on 18th Street, which are on the ground level of 1801 Wyoming Avenue). UIP General Contracting, a subsidiary of UIP, will execute the renovation project. The property will be managed by UIP Property Management, also a subsidiary of UIP.