RALEIGH & GREENSBORO, N.C. — Raleigh-based NAI Carolantic Realty has formed a strategic partnership with the Greensboro-based Alliance Commercial Property Management Co., where NAI Carolantic's property management operations will be merged with Alliance. Alliance manages more than 2.5 million square feet of office and retail space, including a portfolio of 25 properties in the Carolinas containing NAI Piedmont Triad in Greensboro.
Southeast
SUFFOLK, VA. — Best Brakes has leased 42,500 square feet of distribution space at 5401 Virginia Regional Dr. in Suffolk. Stephanie Sanker and Bill Overman of Norfolk, Va.-based S. L. Nusbaum Realty Co. represented the tenant in the transaction. The landlord, Virginia Regional I, was represented by Worth Remick of CB Richard Ellis' Norfolk office.
LEBANON, TENN. — Amazon.com has plans to open a 500,000-square-foot fulfillment center in Lebanon this year, adding to the previously announced Chattanooga and Cleveland centers set to open this fall. The openings will create 1,200 full- and part-time jobs. By the end of the year, the company will have more than 2 million square feet of space in the state.
BETHESDA, MD. — Carr Properties has acquired the contract and development rights for a 223,000-square-foot trophy office project located at 4500 East West Hwy. in Bethesda. Construction will begin during the first quarter of 2012 with completion slated for the first quarter of 2014. The development, which is the first trophy quality, ground-up office development in Bethesda in more than 10 years, will be designed to achieve LEED Gold certification.
MEDLEY, FLA. — Conchita Foods has secured a 60,000-square-foot, 10-year lease for its new South Florida headquarters at 10505 N.W. 112th Ave. in Medley at Flagler Station Business Park. The company will relocate its warehouse, office and distribution operations in early 2012. Brian Smith of Cushman & Wakefield's Miami office represented the tenant in the lease transaction and the landlord was self-represented by Stuart Gordon of Flagler Development.
DUNN, N.C. — Delhaize America and Food Lion have plans to expand the company's distribution center in Dunn by 54,000 square feet. The center currently serves 264 Food Lion stores primarily in N.C. Upon completion in early 2012, the facility will be more than 1.3 million square feet.
BALTIMORE — Big Lots has signed a lease with Inland Western Retail Real Estate Trust to occupy 35,000 square feet of space at the 796,733-square-foot Reisterstown Road Plaza in Baltimore. The Home Depot, Marshalls, Burlington Coat Factory, Shopper's World and Giant Foods anchor the center.
RICHMOND, VA. — Oxbridge Retail has sold the 127,801-square-foot Oxbridge Square, located at 1001 Hull St. in Richmond, to Louisiana-based PMAT Acquisition for $12.5 million. Martins Supermarket anchors the center, which is currently 79 percent leased. Michael Cleeman of New York-based Cohen & Co. represented the buyer in the transaction.
HAILEAH, FLA. — Howard Taft and Charles Penan of Coconut Grove, Fla.-based Aztec Group has arranged $3 million in financing for a ground lease of a Walgreens located at 1155 W. 68th St. in Haileah. Symetra Life Insurance Co. provided the 20-year, self-amortizing loan.
TAMPA, FLA. — Marcus & Millichap has arranged the $2.05 million sale of the 132-unit Marbella Apartments, located at 12406 N. 15th St. in Tampa. Michael Regan, Francesco Carriera and Nicholas Meoli of the firm's Tampa office represented the seller, a Florida-based partnership, and the buyer, a private investor.