LAURENS, S.C. — Friedrichshafen, Germany-based ZF Group is developing a 975,000-square-foot transmission manufacturing facility in Laurens. The $350 million plan will be used to manufacture fuel-efficient eight- and nine-speed automatic transmissions for the passenger care and light truck markets. Walbridge Southeast and Red Rock Developments have been tapped to design and build the facility.
Southeast
ARLINGTON, VA. — NorthMarq Capital has arranged $22.7 million in permanent first mortgage financing for Arlington Court Suites. The 187-room hotel is located in Arlington. Gery McGlynn and Kenneth Gentzel of NorthMarq's Washington, D.C., office arranged the financing for the undisclosed borrower.
BRANDON, MISS. — Copeland & Johns Inc. is constructing a Courthouse Fitness & Racquet Ball Club facility on Mar-Lyn Drive in Brandon. The single-story, 30,000-square-foot property will feature adult fitness facilities, including a group fitness area, a spinning room and full cardio and weight equipment, and a Courthouse JumpZone for children. Additionally, the building will space for two additional tenants. Completion is slated for August.
SILVER SPRING, MD. — An investment group aligned with Adventist Healthcare has acquired a five-story, 17,000-square-foot office building in Silver Spring. Located at 8807 Colesville Road, the nearly vacant property sold for $3.5 million. Chris Kubler and Travis Glennon of NAI KLNB represented the seller, Jose F. Bonelli; Larry Walker of The Walker Group represented the buyer in the transaction.
BALTIMORE, MD. — TidalTV has signed a lease for 16,000 square feet of office space at The Offices at McHenry Row in Baltimore. The company plans to relocate to the new space from its current property in Canton, Md., by April. Joe Nolan of NAI KLNB and Tim Jackson of Cushman & Wakefield represented the developer and landlord of the project, Mark Sapperstein; David Fields of CB Richard Ellis represented the tenant. The Office at McHenry Row is the office component of the 175,000-square-foot, mixed-use McHenry Row project, which is located near the intersection of Key Highway and East Fort Avenue in Baltimore's Locust Point district.
CHARLESTON, S.C. — US Industrial REIT III, an affiliate of USAA Real Estate Co., has acquired a 1.1 million-square-foot property in Charleston. The LEED Gold-certified, cross-docked Class A bulk distribution facility is situated on 124 acres at the Rockefeller Group-MeadWestvaco Foreign Trade Zone. The sellers were a joint venture consisting of The Rockefeller Group and MeadWestvaco Corp. Andrew Merin and Stewart Calhoun of Cushman & Wakefield, along with locally based Colliers Keenan, represented the seller in the transaction. The acquisition price was not disclosed.
MIAMI — Joint venture affiliates of Terranova Corp. and Acadia Realty Trust have acquired three Miami Beach retail buildings in a $52 million transaction. The assets are 741 Lincoln Road, 600 Lincoln Road and 723 Lincoln Road, which total more than 61,000 square feet. Current tenants at the properties include Starbucks Coffee, Geox Shoes, Sushi Samba Dromo and Tacontento. Terranova will manage and lease the Lincoln Road properties.
BATON ROUGE, LA. — Hotel Indigo has opened Hotel Indigo Baton Rouge Downtown Riverfront in Baton Rouge. Located at the corner of Convention and Lafayette streets, the 93-room hotel features King Bar & Bistro, executive suites, executive floors, a 24-hour business center, a boardroom, complimentary WiFi and high-speed Internet access in guestrooms. The hotel is owned by Project King LLC and managed by Baton Rouge-based Nu Vieux LLC in a license agreement with a company in the InterContinental Hotels Group.
COLUMBIA, S.C., AND MOORESVILLE, N.C. — Peter Couchell of NAI Earle Furman has brokered two retail sales in South and North Carolina. In the first transaction, Couchell represented the undisclosed buyer in the $1.08 million acquisition of a 9,014-square-foot retail investment in Columbia. Additionally, Couchell represented a New York-based corporation in the acquisition of a 3,545-square-foot retail asset in Mooresville. The property, which is occupied by AT&T, sold for $1.98 million. The sellers in both transactions were not disclosed.
ORLANDO, FLA. —The Lightstone Group, along with Paragon Outlet Partners, has acquired Festival Bay Mall, which is located at 5250 International Dr. in Orlando. Situated on 139 acres, the 750,000-square-foot shopping center sold for $25 million. Lightstone plans to reposition the asset. The property is currently occupied by a variety of tenants, including Bass Pro Shops Outdoor World, Cinemark 20 Theatres, Ron Jon Surf Shop, Sheplers Western Wear and Vans Skatepark.