DURHAM, N.C. — BPG Properties has sold a 106,000-square-foot, two-building office property to Summit Church for $9.5 million. The property is located on 23 acres at 2335 and 2415 Presidential Drive in Durham. Until now, the church has been leasing the 46,000-square-foot building at 2335 Presidential Drive. Pickett-Sprouse Real Estate's Vernon Averett represented Summit Church in the transaction.
CANTON, GA. — Aurelius Holdings and Highridge Partners have completed the $5.5 million 151 Main office property. The 24,000-square-foot facility is located at 151 W. Main St. in Canton. Mark Robillard Architects designed the space, which will be ready for occupancy this summer.
ORLANDO, FLA. — NorthMarq Capital has arranged a $5.92 million loan for the 356-unit Riverfront Apartments in Orlando. The 10-year Freddie Mac loan carries a 2-year interest-free period and a 30-year amortization schedule. NorthMarq's Frank Relihan and Jason Smith arranged the loan.
RALEIGH, N.C. — North Carolina State University is in the midst of a 10-year project that will transform its on-campus fraternity and sorority houses. As part of a five-phase plan known as Greek Village, the current 1960s-era houses will be demolished and replaced with updated structures. Twenty new chapter houses will be built. NC State will also construct a 206-bed townhome and apartment community for the Greek organizations that do not need a full chapter house. The townhome and apartment community is scheduled for a fall 2013 completion. Phase I of the Greek Village project is currently under way, and vertical construction will begin in the next 8 to 10 months for the first four chapter houses. The $104 million project is anticipated to be complete by 2020.
TUSCALOOSA, ALA. — Capstone Village Inc. has sold the 159-unit Capstone Village retirement community to a private party for an undisclosed price. The property, which was completed in 2006, is located on 24 acres on the University of Alabama campus in Tuscaloosa. Capstone Village encompasses 22 independent living homes, a 29-unit health center and 108 apartments. CLW Health Care Services Group represented the seller.
ATLANTA — McCarthy Building Cos. has completed the 350,000-square-foot Parker H. Petit Science Center for Georgia State University. The $119 million project is located at 161 Jesse Hill Jr. Drive in Atlanta. The property includes teaching and research labs for the colleges of arts and sciences and heath and human services. The center will open in May.
OCALA, FLA. — Longwood, Fla.-based Cotter-Ryan Commercial will build a 35,500-square-foot ambulatory surgery center in Ocala for SSV LLC. The $3.5 million, five-building property will be built in phases on US 441. The first phase, which consists of 8,000 square feet, will start in April.
GAITHERSBURG, MD. — Hughes Network Systems has renewed its 77,199-square-foot lease with TA Associates Realty at 100 Lakeforest Blvd. in Gaithersburg. Hughes has leased space in the building for 24 years. The current lease extends the tenant's stay for another 7 years. McShea & Co.'s Bob Dickman, Bob Wrightson and Brian McCarthy represented the landlord.
CHARLOTTE, N.C. —A joint venture led by Regency Centers has acquired Providence Commons in Charlotte from a private party for an undisclosed price. The property consists of a 191,301-square-foot retail center located at the intersection of Providence Road and Ballantyne Commons Parkway. Major tenants include a 120,487-square-foot Lowe's Home Improvement Warehouse, a 50,240-square-foot Harris Teeter and an 8,640-square-foot Rite-Aid. The property was constructed in 1995. The purchase marks Regency's third shopping center in the market; it also owns Carmel Commons and Cochran Commons.
BOWIE, MD. — St. John Properties has broken ground on the 40,000-square-foot Public Safety Communications Center in the Maryland Science and Technology Center @ Melford development at the intersection of US Route 50 and MD Route 3/301 in Bowie. The property will encompass 3.2 million square feet of mixed-use space upon full build out. The communications center will handle all 911 calls within Prince George's County and will employ more than 200 workers. Property features include dual redundant power and bomb and blast safety construction.