ASHLAND, VA. — Showcase Woodworking Ltd. has completed the disposition of a 115,000-square-foot office/warehouse facility in Ashland. Christen & Anne Nelson acquired the property, which is located at 100 Haley Road, for $2.2 million. Robert Porter Jr. and Kevin Cox of Porter Realty Co. represented the seller; Richard Porter, also of Porter Realty Co., represented the buyer in the transaction.
RURAL HALL, N.C. — Cole Real Estate Investments has acquired Hanesbrands Distribution Center in Rural Hall for an undisclosed price. The property was acquired along with the Medtronic Office Building in San Antonio, Texas, in separate transactions totaling $64.6 million. The 930,000-square-foot Hanesbrands building is leased to Hanesbrands under a 12-year, triple-net lease with a renewal option of an additional 10 years. Boyd Messmann provided in-house representation for Cole. Fran Donato of NAI Welsh represented the seller, Capital Solutions, in the transaction. John Johannson of NAI Welsh referred the transaction to Cole.
GAINESVILLE, FLA. — NorthMarq Capital has arranged $1.47 million in first mortgage financing for Parkside Apartments I & II in Gainesville. The property offers 28 apartment units. Lamar Sarra of NorthMarq's Jacksonville, Fla., regional office secured the financing. The financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged the loan through its seller-servicer relationship with Freddie Mac.
ORLANDO, FLA. — Emerson International has purchased a 7-acre land site at Central Florida Research Park in Orlando for the development of a Florida Technical College campus facility. Construction for the 40,000-square-foot headquarters is expected to begin in March, with completion slated for October. First Builders Inc. is serving as general contractor and Lincoln Property Co. is managing the construction project. The property was acquired from O53A LLC for an undisclosed price. Jeff McFadden of McFadden Realty Advisors represented the seller.
SUNRISE, FLA. — The Ft. Lauderdale, Fla., office of Grandbridge Real Estate Capital has originated and closed a $19.85 million first mortgage loan. The loan is secured by The Colonnade at Sawgrass, a 212-unit garden-style apartment community in Sunrise. Built in 1996, the community features a clubhouse, eight residential buildings with a mix of one-, two- and three-bedroom units, a business center, a fitness center, a swimming pool, a playground and tennis courts. BB&T Real Estate Funding provided the bridge debt. Lance Lehman of Grandbridge originated the transaction. Charlotte, N.C.-based Grandbridge is a subsidiary of BB&T.
WASHINGTON, D.C. — Internal Revenue Services (IRS) has signed a 10-year lease for 100,500 square feet of office space at 999 North Capitol in the Union Square complex. The IRS will be relocating from 1750 Pennsylvania Ave. and is expected to take occupancy January 2012. Jones Lang LaSalle represented the tenant; Akridge and Cushman & Wakefield represented the landlord, CIM Group, in the transaction. Terms of the lease were not released.
NAGS HEAD, N.C. — Todd Crouse of NorthMarq Capital's Raleigh, N.C., regional office has arranged $4.7 million in first mortgage financing for The Shoppes at 10.5 in Nags Head. The 48,718-square-foot, grocery-anchored retail center is located at 2515 S. Croatan Parkway. Major tenants include Food Lion and Monarch Bank. Financing was based on a 10-year terms with a 25-year amortization schedule. The loan funded by Genworth Financial.
CHANTILLY, VA. — Federal Partners has acquired Meadows I, a 104,003-square-foot office building in Chantilly. Located at 4755 Meadow Wood Lane within Westfields Corporate Center, the property has undergone recent improvements, including a new roof, facade renovations, major mechanical upgrades and updated restrooms. Paul Collins, Bill Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy Turley represented the seller, an institutional client represented by Hart Realty Advisors, in the transaction. Terms of the sale were not released.
TAMPA, FLA. — First Market Properties has acquired Canterbury Apartments in Tampa after purchasing the property's mortgage from a national bank. Located near Interstate 275 in Tampa, the 320-unit garden apartment community was built in 1973. The acquired loan had a balance of approximately $8.5 million. Newport Property Ventures took over property management in mid-2010.
CANTON, GA. — Marcus & Millichap has brokered the sale of Miracle Self Storage, which is located at 6380 Hickory Flat Highway in Canton. The 53,105-square-foot property sold for approximately $2 million or $37.66 per square foot. Stacey Gorman of Marcus & Millichap represented the undisclosed seller and undisclosed buyer in the transaction.