SHREVEPORT, LA. — The Shreve Memorial Library has purchased a 32,328-square-foot former Verizon call center in Shreveport from Longview, Texas-based Bert Kouns Partners for $1.85 million. Beth King of Shreveport-based Sealy Real Estate Services represented the seller in the transaction.
RALEIGH, N.C. — Crescent Resources has broken ground for the $50 million, 282-unit Gallery at Cameron Village, located at Clark Avenue and Oberlin Road in Raleigh. In addition to residential units, the property will feature 16,000 square feet of retail space. The first apartments are slated for completion in spring 2013. Raleigh-based Cline Design Associates, PA is the architect for the project, and Cox Schepp Construction is the general contractor.
ATLANTA — A 657,000-square-foot former SuperValu Foods grocery distribution center, located at 605 Selig Dr. S.W. in the Fulton Industrial district of Atlanta, has been acquired by 605 Selig Drive, LLC, an entity affiliated with Covington Capital. The buyer plans to rebrand the industrial property as Logistics Pointe. St. Louis-based Commercial Development Corp. sold the site, which was approximately 50 percent occupied at the time of the transaction and includes more than 40 acres. Steven Cooney of Tranzon Asset Advisors represented the seller, while David Beak of NAI Brannen Goddard represented the buyer. Covington Capital is planning an aggressive program of interior and exterior improvements.
ATHENS, GA. — Batson-Cook Development Co. is nearing completion on a $16 million public-private partnership transforming the block surrounding the Georgia Theatre in downtown Athens into office, retail space and parking. The firm developed the property with the Athens-Clarke County Unified Government and the Athens Downtown Development Authority. Located along West Clayton and Washington streets, the development includes 14,600 square feet of retail space, 28,000 square feet of office space and 540 parking spaces. Retail tenants will include Waffle House, Fuzzy's Taco Shop, Yoforia and Momma Goldberg's Deli. Also, Partner Software, Inc., is taking 11,500 square feet of office space.
MONTGOMERY, ALA. — Marcus & Millichap has brokered the $11.55 million sale of the 57,815-square-foot U.S. Attorney's office in Montgomery. The property is 100 percent leased to the federal government. John Wise of the firm's Atlanta office and Henry Schuldinger of its Washington, D.C., office represented the seller, a national bank. Tim Feagans and Geoffrey Ficke of the firm's Dallas office with Eddie Greenhalgh of the firm's Birmingham, Ala., office represented the buyer, an institutional investor.
MADISON, PERRY & JACKSONVILLE, FLA. — Dickinson-Klotz Real Estate Investment Advisors has negotiated the sale of three Florida apartment complexes. In the first transaction, the 76-unit Madison Heights Apartments in Madison and the 100-unit Tidewater Apartments were sold for $4.4 million. Maurice Matovich and John Middleton of Dickinson-Klotz represented the seller, Fort Lauderdale, Fla.-based Madison Perry, LLC, and procured the buyer, Tallahassee, Fla.-based Griffin Heights. In a separate transaction, the 62-unit Hampton Villa Apartments in Jacksonville was sold for $1.9 million. Matovich represented the seller, Apopka, Fla.-based Kashill Holdings, and procured the buyer, Jacksonville-based Sunshine State Investments.
FORT LAUDERDALE, FLA. — A joint venture between Crocker Partners and Westcity Realty has acquired the 236,00-square-foot One Financial Plaza, located on more than four acres at 100 S.E. Third Ave. in downtown Fort Lauderdale, for $44 million. The property includes the 28-story, Class A office building plus two adjacent development sites. Crocker Partners will be responsible for asset management, and Westcity Realty will provide on-site management.
TAMPA, FLA. — A 250,000-square-foot build-to-suit office building is scheduled to begin construction this week at MetWest International in Tampa for approximately $78 million. PwC US has signed a long-term lease at the building to combine the firm's Tampa office and Tampa Enterprise Solutions Center, which currently operate in separate locations. Timothy Dempsey and Bill Obregon, with CB Richard Ellis' Tampa office, represented PwC in the lease transaction, while MetLife was represented by Hank Brenner and Angela Odell of Taylor & Mathis' Tampa office. Taylor & Mathis will act as the development manager of the project.
DELRAY BEACH, FLA. — Wood Partners has secured $66.5 million in construction financing arranged by Greg Engler of Engler Financial Group to build the 369-unit Alta Congress apartment community, which will be located at 250 Congress Park Dr. in Delray Beach. Amenities will include a clubhouse, golf course views and two courtyards, one with a swimming pool. The four-story project will begin construction in August with completion scheduled for May 2013. Coastal Construction is the contractor for the project.
HUNT VALLEY, MD. — Merritt Properties has started construction on Schilling Green II, a four-story office building and single-story annex, located at 225 Schilling Cir. in Hunt Valley, which is expected to meet LEED Platinum certification when it is completed in late August 2012. Schilling Green II is located within Merritt's Schilling Circle development and has already secured a 75,400-square-foot lease from EA Engineering, Science and Technology, Inc.