ALEXANDRIA, VA. — H&R Retail has arranged the sale of the 145,273-square-foot Alexandria Commons, located at 3117 Duke St. in Alexandria, from a local investor to American Realty Advisors. Giant and Staples anchor the center. The price was undisclosed. Michael Gorsage of H&R Retail's Washington, D.C., office represented both parties in the transaction.
ROCKVILLE, MD. — Foulger-Pratt Cos. has broken ground on the 190,907-square-foot Rockville Metro Plaza II, located adjacent to Rockville Metro Plaza I at 378 Maryland 355 in Rockville, for the new headquarters of Choice Hotels. Upon completion more than 400 employees will move to the property. The building will feature 13,670 square feet of first-floor retail space and will be built to LEED Platinum standards.
CHARLOTTE, N.C. — PNC Real Estate has provided a $14.2 million Fannie Mae loan to Vestecor to refinance the 386-bed The Flats at Mallard Creek Apartments, a student housing community at the University of North Carolina at Charlotte. The 10-year loan was originated by PNC's Charlotte office and used to refinance an existing construction loan.
CHARLOTTE, N.C. — Trinity Partners has arranged the $43 million sale of the 944,399-square-foot Woodland Business Park, a 12-building industrial park located at Woodpark Boulevard in Charlotte, to Dallas-based Crow Holdings. David Allen and Dunn Mileham of Trinity Partners' Charlotte office represented the undisclosed seller. The buyer was self-represented.
DOUGLASVILLE, GA. — Phoenix-based Cole Real Estate Investments has acquired a 222,500-square-foot Wal-Mart Supercenter and a 129,500-square-foot Sam's Club, located on Concourse Parkway in Douglasville, for $32.8 million. The adjacent properties are both subject to individual 20-year leases scheduled to expire in 2019, with six, 5-year renewal options. Craig Johnson of Marcus & Millichap's Atlanta office along with Jeffrey Piccinelli of Cole represented the buyer. Johnson also represented the seller, a California-based investor.
HICKORY, N.C. — Atlanta-based ADEVCO Corp. has sold a 60,000-square-foot call center, located off Interstate 40 in Hickory, to McClean, Va.-based The Gladstone Cos. for $10.65 million. The building is fully leased to Fiserv. John Kerby and Tom Hughes of Atlanta-based First Fidelity Cos. represented both parties in the transaction.
MIDDLETOWN, MD. — Potomac, Md.-based Vanguard Realty Group's investment sales division has negotiated the $6.94 million sale of the 84-unit Chesterbrook Apartments, located at 312 Broad St. in Middletown, from a Rockville, Md.-based private investor to a Virginia-based private company. Rick Struse and Cullen O'Grady of Vanguard represented both parties in the transaction.
ATLANTA — DLC Management Corp. has launched a new social media initiative for 14 of its properties in the metro Atlanta area. The business-to-business and business-to-consumer initiative includes “DLC Atlanta” pages on Twitter and Facebook. The property-specific pages will provide shoppers with news about the centers, store openings, new tenants and information about upcoming events. DLC is looking to have the pages on Twitter and Facebook be legitimate sources for commercial real estate happenings in the metro Atlanta area. DLC will be partnering with its tenants to provide store specific information on promotions, sales and hiring information for brokers and retailers in Atlanta.
LANDOVER, MD. — Cassidy Turley has negotiated the sale of a 137,000-square-foot, Class A office building, located at 8301 Professional Place in Landover. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller, Advance Realty Group. Washington, D.C.-based Persimmon Capital Partners was the buyer.
MADISON, MISS. — CBL & Associates Properties has started construction on the 83,000-square-foot Phase II of The Forum at Grandview, located on Interstate 55 in Madison. Anchors of Phase II include ULTA, Homegoods, Petco and a national arts and crafts retailer along with 14,000 square feet of specialty stores. Completion is slated for summer 2012.