WASHINGTON, D.C. — Carr Properties has sold a 41,358-square-foot office building, located at 1741 Business Center Dr. in Washington, D.C., to Lake Fairfax Business Center Owners Association for $5.22 million. Additionally, Carr Properties negotiated a lease termination with the tenant, generating additional cash proceeds.
BOWIE, MD. — Inland Private Capital Corp. has sold a 26,170-square-foot retail building, located at 4500 Mitchelville Rd. in Bowie, to 4500 Mitchelville Road, Inc., for $5.1 million. The property is fully leased to PetSmart. Stan Johnson Co. represented the seller in the transaction and Addison-Herring represented the buyer.
GREENSBORO, N.C. — Marcus & Millichap has negotiated the $3.4 million sale of a 15,105-square-foot medical office building, located at 622 Industrial Blvd. in Greensboro. The property is currently leased to Fresenius Medical Care Dialysis Clinic. Scott Niedergang of Marcus & Millichap's Chicago office and Allen Smith of the firm's Charlotte, N.C., office represented the seller, a developer, in the transaction and procured the buyer, a private investor.
JACKSONVILLE, FLA. — Jacksonville Beach, Fla.-based Walchle Lear Multifamily Advisors has brokered the $33.4 million sale of the 440-unit The Eastport, located at 11701 Palm Lake Dr. in Jacksonville. Walchle Lear represented the seller in the transaction.
GROVELAND, FLA. — Marcus & Millichap has arranged the $9.1 million sale of the 65,751-square-foot Eagle Ridge Shoppes, located at 7975 State Road 50 in Groveland. Sonny Molloy of Marcus & Millichap's Atlanta office represented Groveland Associates, the seller, in the transaction and Kirk Olson and Drew Kristol of the firm's Miami office represented the buyer, a Miami-based private equity group. Publix anchors the center, which is approximately 80 percent leased.
HOUMA, LA. — Jones Lang LaSalle has negotiated the $8.5 million sale of the 98,586-square-foot Houma Power Center, located at 1550 Martin Luther King Blvd. in Houma. Old Navy, Michaels and Burke's anchor the center, which is fully leased. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta office represented Kimco Realty Corp., the seller, in the transaction. The buyer was New Orleans-based Property Management Group.
CHESAPEAKE, VA. — Cushman & Wakefield — Thalhimer has brokered the $1.12 million sale of a 9,000-square-foot retail property, located at 4124 Chesapeake Square Blvd. in Chesapeake, which was formerly Paradocks Restaurant. Andy Stein of Cushman & Wakefield — Thalhimer's Virginia Beach, Va., office represented Bank of the Commonwealth, the seller, in the transaction, and Troy Parker of the same off represented the buyer, T2 Chesapeake Square, who is redeveloping the property for retail use.
JACKSONVILLE, FLA. — Grandbridge Real Estate Capital has arranged a $72 million, first mortgage loan for the 1,112-unit Paradise Island, located at 878 Southside Blvd. in Jacksonville. Taylor Williams of Grandbridge's Jacksonville office arranged the 7-year loan, which is interest-only for the first 2 years and then amortizes on a 30-year schedule, through Freddia Mac's CME Early Rate Lock.
ATLANTA — Atlanta-based McCarthy Building Cos. has been selected for the $42 million, 140,000-square-foot Kaiser Permanente's Glenlake Comprehensive Medical Center, located at 20 Glenlake Pkwy. in Atlanta. Construction will begin the second quarter of 2012 and will include the addition of 100,000 square feet to the existing facility, as well as the renovation of 40,000 square feet. With these improvements, the facility will be equipped to provide around-the-clock medical care and services. Completion is slated for March 2014.
CARY, N.C. — Bell Partners has purchased the 360-unit Century Preston Reserve Apartments, a Class A apartment community located at 200 Berwick Valley Ln. in Cary, for $40.5 million. Bell plans to manage the property, which will be renamed Bell Preston Reserve.