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.
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.
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.
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.
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.
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.
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.
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.
BRENTWOOD, TENN. — Northwestern Mutual has acquired Gateway II, a Class A office building in Brentwood, for $24.25 million. Located on 5.5 acres at 5500 Maryland Way, the four-story property offers 117,000 square feet of rentable space. The property is currently 100-percent occupied by tenants, including LifePoint Hospitals, Stanley D. Lindsey & Associates and Robin & Morton. Alex S. Palmer & Co., the seller, developed and built the property in 2007. Douglass Johnson and Steve Preston of CB Richard Ellis' Nashville, Tenn., office brokered the transaction.
HOMESTEAD, FLA. — Marcus & Millichap has brokered the sale of the South Dade Portfolio, a two-community multifamily portfolio in Homestead. The properties offer a total of 150 units. The properties are located at 15451 S.W. 288 Street and 527 Flagler Avenue. A North Miami, Fla.-based investor acquired the portfolio for $5.59 million. Daniel Draizin, Evan Kristol and Still Hunter III of Marcus & Millichap's Ft. Lauderdale, Fla., office represented the seller, an undisclosed investor from Coral Gables, Fla., in the transaction.