Southeast

ROCK CREEK PROPERTY GROUP ACQUIRES PROPERTY IN WASHINGTON, D.C.

by admin January 6, 2011

WASHINGTON, D.C. — Rock Creek Property Group has acquired 1438 U Street N.W. in Washington, D.C. The two-story building sold for $2.75 million or $229 per square foot. The buyer plans to fully renovate the property, which was originally built for the United States Post Office, into retail, office or mixed-use tenancy. The property measures 12,000 square feet with a total mixed-use development potential of approximately 25,000 square feet. Rock Creek utilized its fund, Rock Creek Fund Investors I, for all equity associated with acquisition.

January 6, 2011

WOOD PARTNERS ACQUIRES SITE FOR $68 MILLION MIXED-USE PROJECT IN VIRGINIA

by admin January 5, 2011

ALEXANDRIA, VA. — Wood Partners has acquired a 3-acre land parcel on the site of the former Beacon Field Airport in Alexandria. The company plans to develop The Heights at Groveton, a 290-unit luxury multifamily community, on the site. Located at 6830 Richmond Highway, the single-building, 299,000-square-foot community will feature five- and six-story elevations. Construction of the $68 million, shovel-ready project is expected to begin in January, with completion scheduled for late 2012. Wood Partners has partnered with Washington, D.C.-based Redbrick Development Group for the project. Additionally, JPMorgan Chase is providing funding for the development. The property was purchased from MDP Groveton LLC, with Holliday Fenoglio Fowler and Cassidy Turley serving as brokers. Terms of the transaction were not released.

January 5, 2011

Retail Southeast

BLACKROCK ACQUIRES RETAIL CENTER FOR $25.7 MILLION IN FLORIDA

by admin January 5, 2011

WEST PALM BEACH, FLA. — BlackRock has acquired Village Commons, a shopping center located at the intersection of Village Boulevard and Brandywine Road in West Palm Beach. A venture between Regency Centers, First Washington Realty and the California Public Employees' Retirement System sold the property for $25.7 million or $152.02 per square foot. The 169,053-square-foot center is currently 73.2 percent leased to tenants, including Publix, CVS/pharmacy, Panera Bread and Starbucks Coffee. CB Richard Ellis' National Retail Investment Group Florida Team represented the seller in the transaction.

January 5, 2011

Industrial Southeast

351,000-SQUARE-FOOT INDUSTRIAL BUILDING SELLS IN CHARLESTON, S.C.

by admin January 5, 2011

CHARLESTON, S.C. — Regal Logistics has acquired a 351,000-square-foot industrial building in Charleston. The property, which is located within Charleston Regional Business Center, sold for an undisclosed price. Hagood Morrison of Colliers International and Todd Clarke of GVA Kidder Mathews represented the buyer; Peter Fennelly and Simons Johnson of Colliers International represented the sellers, Amstar and Childress Klein, in the transaction.

January 5, 2011

Industrial Southeast

98,000-SQUARE-FOOT INDUSTRIAL BUILDING SELLS IN TENNESSEE

by admin January 5, 2011

FORKS-OF-THE-RIVER, TENN. — Plastics Management/Republic Plastics has purchased teh TTC Building, an industrial property in Forks-of-the-River, for $3.55 million. The 10-acre property includes a 98,000-square-foot industrial building. Bob Thornton of Baker Realty Co. represented the buyer and seller in the transaction.

January 5, 2011

Retail Southeast

EASTGATE SHOPPING CENTER SELLS FOR $31.5 MILLION IN TENNESSEE

by admin January 4, 2011

MEMPHIS, TENN. — Arrow Operating Acquisitions has acquired Eastgate Shopping Center, a 445,907-square-foot regional community center located on Park Avenue in Memphis. Union Realty Co. GP and Belz Investco GP sold the property for $31.5 million or $71 per square foot. The center is occupied by Fresh Market, Michaels, TJ Maxx, Stein Market, Burlington Coat Factory and Walgreens. Brad Nathanson, Paul Kerber and Anne Williams of Marcus & Millichap brokered the transaction.

January 4, 2011

Healthcare Southeast

209-BED HOSPITAL PORTFOLIO SELLS ACROSS SOUTHEAST AND TEXAS

by admin January 4, 2011

ATLANTA — Healthcare Trust of America has purchased a multi-market hospital portfolio, with assets located in Georgia, Florida and Texas. The more than 217,000-square-foot, 209-bed portfolio includes four long-term acute-care hospitals, which was leased and operated by Select Medical Corp. The combined purchase price was approximately $102 million. Lee Asher and Chris Bodnar of CB Richard Ellis' Healthcare Capital Markets Group represented the seller, Inland American Real Estate Trust, in the transaction.

January 4, 2011

Office Southeast

PHASE 3 PROPERTIES SELLS TWO BUILDINGS IN NORTH CAROLINA

by admin January 4, 2011

DURHAM AND CARY, N.C. — Phase 3 Properties has completed the disposition of two laboratory and office buildings in North Carolina. BioMed Realty Trust acquired Patriot Drive Sciences Center, which is located at 3908 Patriot Dr. in Durham, and 3000 Weston Parkway in Cary. Constructed in 1984, the 48,000-square-foot Patriots Drive Sciences Center sold for approximately $8.6 million, while the 30,000-square-foot Weston Parkway property, which was built in 1990, sold for $6.1 million. The Weston property is fully leased to Diosynth Biotechnology. Lee Clyburn of Grubb & Ellis|Thomas Linderman Graham represented Phase 3 Properties in the transactions.

January 4, 2011

Multifamily Southeast

NORTHMARQ ARRANGES $31 MILLION STUDENT HOUSING LOAN IN ALABAMA

by admin January 4, 2011

TUSCALOOSA, ALA. — NorthMarq Capital's Atlanta Regional office has arranged $31 million in first mortgage financing for Woodlands of Tuscaloosa, which is located at 100 Hargrove Road East in Tuscaloosa. The 204-room student housing property offers 708 beds. Financing was based on a 7-year term with a 30-year amortization schedule. Bruce Foster of NorthMarq arranged the financing for the borrower, Woodlands of Tuscaloosa Phase I LLC, through NorthMarq's seller-servicer relationship with Freddie Mac.

January 4, 2011

Industrial Southeast

AMMENDALE TECHNOLOGY PARK SELLS FOR $23 MILLION IN MARYLAND

by admin January 3, 2011

BELTSVILLE, MD. — Boston-based Cabot Properties has acquired Ammendale Technology Park in Beltsville for $23 million. Built in 1985 and 1986, the seven-building industrial portfolio consists of office and warehouse facilities with ample truck courts. Bo Cashman, Jonathan Beard, Bruce Strasburg and Marc Rampulla of CB Richard Ellis represented the seller, Rockville, Md.-based Washington Real Estate Investment Trust, in the transaction.

January 3, 2011

Newer Posts

Older Posts