BOCA RATON, FLA. — Invesco Real Estate has sold the 89,503-square-foot Boca Corporate Plaza to Pebb Enterprises for $8.55 million. The 33-year-old office property is located at the intersection of Glades Road and the Florida Turnpike in Boca Raton. Christian Lee, Charles Foschini, Christopher Apone, Travis Herring and Deanna Lobinsky of CB Richard Ellis represented the seller.
MARYLAND AND VIRGINIA — PMIG LLC has borrowed an $8.31 million loan for five gas stations in Maryland and Virginia. Financed by John Marshall Bank, the 10-year loan carries a 20-year amortization. Matthew Kohlhoss of NorthMarq Capital arranged the loan.
FLORIDA — EZCORP has purchased eight pawn shops in central and south Florida from Legacy Equity Fund for an undisclosed amount. Five stores are located near St. Petersburg and three are in Miami. The stores, which currently operate as different brands, will be rebranded as Value Pawn locations. EZCORP now operates 85 stores in Florida.
ARLINGTON, VA. — Edens & Avant is redeveloping Arlington Ridge, a shopping center located at 2901-2955 S. Glebe Road in Arlington. The 84,502-square-foot project will include the development of pedestrian-friendly walkways, outdoor-dining spaces and extensive landscaping. Giant Foods and Gold’s Gym anchor the property. Completion of the project is scheduled for fall 2010.
WASHINGTON, D.C. — Skanska USA Commercial Development has broken ground for the development of 733 10th & G, a mixed-use project located at 733 10th St. in Washington. The project will consist of eight stories of office space, 165,000 rentable square feet, ground-level retail space and worship space for First Congregational United Church of Christ. The project is seeking at minimum LEED Gold certification and will feature green elements, including a green roof, energy-efficient floor-to-ceiling windows, green housekeeping and improved indoor air quality. Cunningham & Quill Architects and Tod Williams Billie Tsien Architects are providing architectural services for the project, which is scheduled for completion in late 2011. Last year, Skanska acquired the development rights for project, which was originally being developed by PN Hoffman.
RICHMOND, VA. — ADC II LLC has purchased an approximately 63,000-square-foot industrial property in Richmond's Scotts Addition area. Situated on 1.81 acres at 1300 Mactavish Ave., the property sold for $1.45 million. The buyer plans to redevelop the property. Jeffrey Cooke of Thalhimer, a member of Cushman & Wakefield Alliance, represented the seller, Mactavish Investment Co., in the transaction.
FORT MYERS, FLA. — OH 10 LLC has acquired Riverside Center, a three-story, 39,874-square-foot building in Fort Myers. FDIC sold the property, which is located at 7331 College Parkway, for $3.25 million. The building will be owner occupied by Dr. Stephen Laquis of Ophthalmic Facial Plastic Surgery Specialists and Dr. Edward Humbert of Joint Implant Surgeons of Florida. Enn Luthringer of CB Richard Ellis' Fort Myers/Naples regional office brokered the transaction.
DURHAM, N.C. — An affiliate of Northwood Investors LLC has acquired Research Tri-Center, an industrial park located in Durham. The 130-acre master-planned park is comprised of 10 buildings totaling approximately 1.5 million square feet of industrial space. The park is 88 percent leased to 26 tenants, including GlaxoSmithKline, UPS, FedEx Ground, Verizon and Parata Systems. Rob Cochran, David Finger, Tom Powers, Chris Norvell and Jim Allaire of Cassidy Turley's Capital Markets team represented the seller, an institutional fund managed by Grosvenor Investment Management, in the transaction. The acquisition price was not released.
TALLAHASSEE, FLA. — Florida-based Satchitanand has purchased Cabot Lodge in Tallahassee for an undisclosed price. Situated on 7 acres at 2735 N. Monroe St., the 160-room property is comprised of four 40-room buildings, including a commercial building with a lobby and a breakfast room. Scott Stephens and Monty Levy of HREC Investment Advisors represented the seller, Prism Hotels & Resorts and its affiliate Hospitality Receiver, in the transaction.
SUFFOLK, VA. — Harbour View Medical Arts I has sold the 49,000-square-foot Harbour View Medical Arts office building to Health Care REIT for $12.5 million. The property is located at 5838 Harbour View Blvd. in Suffolk. Thalhimer's Casey J. O'Hearn and Rik King, II, brokered the sale.