WEST PALM BEACH, FLA. — New York-based Related Cos. has been selected to develop the 400-room Palm Beach County Convention Center Hotel, which will carry a Hilton brand, in West Palm Beach. The firm will take on the project with assistance from Hilton Worldwide, Coastal Construction, Catafulmo Construction and architect Nichols Brosch Wurst Wolfe & Associates. Related's project will generate 360 construction jobs and 300 permanent jobs. The next steps in the process are contract and financing negotiations, which will take 4 to 6 months.
Southeast
FREDERICK, MD. — Sinclair Real Estate has received site plan approval of its Sinclair Way mixed-use project in Frederick's Historic Preservation District. The project will include 26,000 square feet of office space, 12 townhouse units and retail space. Zavos Architects is designing the space.
MIAMI — Marcus & Millichap has brokered the $4.45 million sale of the 21,868-square-foot Bird 74 Shopping Center in Miami. Located at 7378 SW 40th St., the property houses IHOP, a day care center and a gym. Drew Kristol and Kirk Olson of Marcus & Millichap brokered the sale.
ARBUTUS, MD. — Olson Wire Products has purchased a 47,388-square-foot industrial building from the trustee for Barton-Cotton Real Estate for $1.57 million. The property is located at 1301 Constance Ave. in Arbutus. Michael Spedden of Preston Partners brokered the transaction.
RICHMOND, VA. — MeadWestvaco has obtained $68.4 million in financing for its 311,000-square-foot build-to-suit headquarters. The property is located at Foundry Park in Richmond. The 5-year, fixed-rate loan carries a 15-year amortization. Geoff McVeigh of Berkadia Commercial Mortgage's Richmond office arranged the loan, which was funded by Deutsche PostBank AG through PB Capital Corp.
FORT LAUDERDALE, FLA. — Choice Hotels International has opened a 119-unit Cambria Suites hotel in Fort Lauderdale, the first of its kind in Florida. The property, located at 141 SW 19th Court, is owned by Dan Patel of DP Hotels. The hotel features a dining area, a fitness center, a resort-style pool and a 24-hour convenience store.
FORT LAUDERDALE, FLA. — Stiles Construction has begun work on a $15 million renovation of 55,000 square feet of Holy Cross Hospital space, which will be repurposed as the Dorothy Mangurian Comprehensive Women's Center. The property is located in the Holy Cross Healthplex at 1000 NE 56th St. in Fort Lauderdale. The center will encompass education and community rooms, a cuisine center, a chapel, doctor's offices and a library. Philanthropic donations funded the project, which was designed by Gresham Smith.
MARION, S.C. — Marion Properties has sold a 23,000-square-foot retail center to a private buyer for $2.72 million. The property, which sits next to a Walmart, is located on Enterprise Drive in Marion. Tenants in the center include Dollar Tree, CATO and Shoe Show. BB&T financed the purchase. Drew Fleming and Mark Joines of Atlanta-based Carter's retail sales investment team represented the seller.
GREENSBORO, N.C. — High Point, N.C.-based Bernards has signed a 240,000-square-foot lease with Tower Greensboro of Woodland, Calif., for space in a Greensboro warehouse. The property is located at 5644 Hornaday Rd. Jordan Reece and AB Henley of Triad Commercial Properties represented the tenant. Dodson Schenk of CB Richard Ellis represented the landlord.
SAVANNAH, GA. — Maersk Distribution Services has leased 195,000 square feet of warehouse space from Duke Realty Corp. at 318 Grange Rd. in Savannah. The tenant is a U.S. division of Denmark-based Maersk Line, a shipping company. Brian Sutton of Duke Realty served as in-house representation for the company. Colliers Neely Dales' John Neely represented Maersk.