Southeast

COLE ACQUIRES WINCHESTER STATION FOR $26.8M

by admin October 20, 2011

WINCHESTER, VA. — Cole Real Estate Investments has purchased the 167,000-square-foot Winchester Station, located at 2540 S. Pleasant Valley Rd. in Winchester, for $26.8 million. The shopping center is currently 97.5 percent leased to tenants including hhgregg, Ross Dress for Less, Bed Bath & Beyond, Michaels, Old Navy, Olive Garden and Red Lobster. William Kent and Gary Lawrence of CBRE's Washington, D.C., office represented Trout, Segall & Doyle Winchester Properties, the seller, in the transaction. The buyer was self-represented by Thomas Faltatko.

October 20, 2011

PHILLIPS SELECTS MCSHANE FOR MULTIFAMILY PROJECT

by admin October 20, 2011

CHARLOTTE, N.C. — Phillips Development & Realty has selected McShane Construction Co. to build the 300-unit Phillips Mallard Creek, located at 655 W. Mallard Creek Church Rd. in Charlotte. Amenities will include a swimming pool, sport court, clubhouse, walking and biking trails, pet exercise area and a carwash. The first units and clubhouse are slated for completion in the summer of 2012 with full completion anticipated in May 2013.

October 20, 2011

Office Southeast

DEEP RUN 3 OFFICE BUILDING SELLS FOR $12.4M

by admin October 20, 2011

RICHMOND, VA. — The 382,570-square-foot Deep Run 3, located at 9954 Mayland Dr. in Richmond, has been sold for $12.4 million. Mark Douglas of Cushman & Wakefield — Thalhimer's Richmond office represented the buyer, DR III, a joint venture between DRV and Markel-Eagle Partners, in the transaction.

October 20, 2011

Office Southeast

$11M INNOVATION HUB COMPLETE AT UF

by admin October 20, 2011

GAINESVILLE, FLA. — The $11 million, 46,000-square-foot Florida Innovation Hub, located at the University of Florida in Gainesville, has been completed. The “business incubator” houses the UF Office of Technology Licensing, UF Tech Connect and more than 30 startup technology companies. Ponikvar & Associates designed the building to achieve LEED Gold certification, and Charles Perry Partners completed construction on the project.

October 20, 2011

Multifamily Southeast

TRIANGLE BUYS MULTIFAMILY PORTFOLIO

by admin October 19, 2011

CHARLOTTE, N.C. — Gastonia, N.C.-based Triangle Real Estate has purchased a three-property, 610-unit multifamily portfolio, located in Charlotte, from Houston-based Juniper Investment Group for an undisclosed price. The portfolio includes the 162-unit Vista Del Lago; the 220-unit Pinetree; and the 228-unit Misty Woods. Southeast Apartment Partners' Carolinas Group, led by Jordan McCarley of the firm's Charlotte office, represented both parties in the transaction.

October 19, 2011

Multifamily Southeast

CBRE NEGOTIATES $5.2M SALE OF SUN BAY APTS.

by admin October 19, 2011

WINTER PARK, FLA. — CBRE has brokered the $5.2 million sale of the 195-unit Sun Bay, a multifamily property located at 7001 Aloma Ave. in Winter Park. Shelton Granade and Luke Wickham of CBRE's Orlando office represented the seller in the transaction. The buyer plans to renovate and reposition the property, which is currently 89 percent leased.

October 19, 2011

Industrial Southeast

NAI AVANT ARRANGES $1.95M INDUSTRIAL SALE

by admin October 19, 2011

BLYTHEWOOD, S.C. — Columbia, S.C.-based NAI Avant has arranged the $1.95 million sale of a 35,800-square-foot industrial property, located at 1101 Carolina Pines Dr. in Blythewood. Nick Stomski of NAI Avant represented ALD Thermal Treatment, the seller, in the transaction. The buyer was Spirax Sarco.

October 19, 2011

Hospitality Southeast

HODGES WARD ELLIOTT BROKERS $1.77M HOTEL SALE

by admin October 19, 2011

ORLANDO, FLA. — Atlanta-based Hodges Ward Elliott has arranged the $1.77 million sale of the 108-room Orlando Inn, located at 5900 American Way in Orlando. Anthony Falor of Hodges Ward Elliott's Select Service Division represented the undisclosed seller in the transaction. Florida-based Ark Hotel Group was the buyer. The property will be repositioned as the Super 8 Universal Studios — Orlando.

October 19, 2011

Retail Southeast

FRAGA BREAKS GROUND ON PHASE II FOR SHOPS OF DORAL

by admin October 19, 2011

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.

October 19, 2011

Multifamily Southeast

JV BREAKS GROUND ON 294-UNIT BAINBRIDGE RIVER OAKS APTS.

by admin October 18, 2011

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.

October 18, 2011

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