MARIETTA, GA. — Marquis Investments has acquired Casa Mia Apartments in Marietta from Freddie Mac for $4.8 million. The 400-unit complex has been renamed Marquis Place and includes a swimming pool, lighted tennis courts and a playground. Star Residential will manage the property for Marquis Investments.
WEST PALM BEACH, FLA. — Marcus & Millichap has arranged the $4.36 million sale of the 60-unit Villas of Palm Beach, located at 2236 Laurel Way in West Palm Beach. William Berthiaume of the firm's Fort Lauderdale, Fla., office represented the seller, a Miami-based limited liability company, and procured the buyer, a Lake Worth, Fla.-based limited liability company who was in a 1031-exchange.
RICHMOND, VA. — Cushman & Wakefield/Thalhimer has arranged the $4.3 million sale of the 76,164-square-foot Villa Park I office building, located at 8040 Villa Park Dr. in Richmond. Mark Douglas and Brian Berkey of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Orix Capital Markets, in the transaction. The buyer was Villa Park I, LLC.
MEMPHIS, TENN. — Atlanta-based Hodges Ward Elliott (HWE) has negotiated the sale of the 243-room Holiday Inn Select Memphis East in Memphis for an undisclosed price. Tom Woodward with Hodges Ward Elliott represented the seller, Hospitality Properties Trust. The buyer was undisclosed.
BETHESDA, MD. — The Bainbridge Cos. has started construction on the 200-unit Bainbridge Bethesda, a 17-story high-rise in Bethesda with 7,200 square feet of ground floor retail. The property is being designed to meet LEED Silver certification, and includes amenities such as a rooftop swimming pool, garden terrace, fitness center, social activity center and cyber cafe with a business lounge. Turner Construction Co. is the general contractor for the development and Sami Kirkdil of SK&I Architectural Design Group is the designer. Construction is slated for completion in the summer of 2013.
ORLANDO, FLA. — Marcus & Millichap has arranged the $3.6 million sale of the three-building, 43,813-square-foot International Drive Portfolio, a retail portfolio of properties located at 6454 and 6464 International Dr. in Orlando. Mark Thompson of the firm's Orlando office represented the seller, a private investor. The buyer a private investor procured by Southeast Commercial Development.
NASHVILLE, TENN. — A joint venture between Mississippi-based StateStreet Group and Tennessee-based Mathews Co. has acquired the 41,000-square-foot Buchanan Station, located at 1650 Elm Hill Pike in Nashville, from First Industrial Realty Trust for $2.32 million. The multi-tenant flex property is currently 94 percent leased. David McGahren of Cassidy Turley's Brentwood, Tenn., office represented the seller.
SANFORD, FLA. — Altamonte Springs, Fla.-based Mercantile Capital Corp. has arranged a SBA 504 loan for the Sanford Auto Dealers Exchange, located on Martin Luther King Boulevard in Sanford. The loan financed 85 percent of construction costs, valued at more than $11.2 million, for the company's auto storage facilities.
CHARLOTTE, N.C. — Rooms to Go has signed a 180,000-square-foot lease at Chemway Industrial Park, located at 1531 Tarheel Rd. in Charlotte. The company will relocate to the new space from its previous 160,000-square-foot facility in Ft. Mill, S.C. Warren Snowdon of Cushman & Wakefield — Thalhimer's Charlotte office represented the tenant in the lease transaction.
TYSON'S CORNER, VA. — The AFL-CIO Building Investment Trust (BIT) has purchased the Tyson's East Office Portfolio from an undisclosed seller for $138.5 million in an off-market transaction. The portfolio contains five adjacent buildings on 16.8 acres, including two office buildings and three data centers. The site also offers future development rights for approximately 1.8 million square feet of residential or mixed-use space.