CHARLOTTE, N.C. — MayfieldGentry Realty Advisors has leased 50,000 square feet of office space to CIT Group in Charlotte. The Class A property is located at 201 S. Tryon St. In September, CIT will move into three floors recently vacated by Wachovia. Erin Curry represented MayfieldGentry internally. Spectrum Properties' Ted Lee also helped negotiate the 6-year lease.
FREDERICK, MD. — Natelli Communities will break ground Monday on a 115,000-square-foot headquarters property for Banner Life Insurance Co. The development, which will comprise two two-story buildings, will be located at 3275 Bennett Creek Ave. in the Urbana Corporate Center in Frederick. Delivery in expected during summer 2011.
MIAMI — ANF Miami Gardens has borrowed a $17.4 million loan for the 470-unit Cottage Cove I & II multifamily complex. The property is located at 12 NE 188 St. and 18991 N. Miami Ave. in Miami. The 7-year loan was financed through Freddie Mac's Cap Arm program. The loan carries an interest rate of 3.66 percent and a 30-year amortization. Christian R. Lee and Christopher Apone of CB Richard Ellis' Miami office arranged the loan. TM Real Estate Group, led by Troy Ballard and Matthew Peller, sponsored the transaction.
WASHINGTON, D.C. — Roche Constructors has completed a two-story complex that houses a LEED-certified Safeway grocery store in the Georgetown area of Washington. To construct the property, Roche demolished an old store, building the new structure along with a 259-space parking garage. Safeway is located on the second floor, with retail space on the street level.
BURKE, VA. — Walker & Dunlop has secured a $36.5 million loan for the 167,642-square-foot Burke Centre shopping center. The Burke property, which is 99 percent leased, houses 46 tenants and is anchored by Safeway and CVS/pharmacy. Nationwide Life Insurance Co. financed the 10-year loan, which carries a 30-year amortization schedule.
ALPHARETTA AND MARIETTA, GA. — Strategic Storage Trust has purchased two self-storage properties in the Atlanta area from Storage Partners of Alpharetta and Storage Partners of Powers Ferry Road for $9.6 million. The Alpharetta property, located at 11640 Jones Bridge Road, spans 76,500 square feet and includes 670 units. The 500-unit Marietta property is located at 2035 Powers Ferry Road.
D'IBERVILLE, MISS. — Encore Hospitality has opened a 125-room Courtyard by Marriott in the 150-acre Lakeview Village in D'Iberville. The hotel includes a restaurant, a lounge, an indoor pool and spa, an exercise room and a business center. Pineapple Management Services oversees day-to-day operations of the property.
ST. PETERSBURG, FLA. — An undisclosed bank has sold the 18-unit Colton on 4th Avenue Apartments to a Canadian investor for $1.05 million. The property is located at 249 4th Ave. North in St. Petersburg. Casey Babb and Bill Renje of Marcus & Millichap's Tampa, Fla., office represented the seller. The firm's Francesco Carriera represented the buyer.
SOUTH CAROLINA — Royal Senior Care has brought on Cornerstone Healthcare Plus REIT as an 80 percent partner in two assisted living properties in a deal worth $27 million. The developments are located in South Carolina and total 180 units. Royal Senior Care will continue managing the properties. CLW Health Care Services Group represented Royal Senior Care in the transaction.
MEMPHIS, TENN. — Earle M. Jorgenson Co. has broken ground on a 72,000-square-foot warehouse at the intersection of U.S. Highway 64 and Highway 385 in Memphis. The property will be part of the Eastridge Business Park. Edward Saig of NAI Saig represented Earle M. Jorgenson the purchase.