ORLANDO, FLA. — Construct Two Group will soon break ground on the 100,000-square-foot Old Cheney/North Forsyth Area Elementary School on a 14-acre parcel on Curtis Street in Orlando. The $14.2 million project, which was designed by Orlando-based Schenkel Shultz Architects, will include administration offices, classrooms, a kitchen and a multi-purpose room. Delivery is expected next June.
DULUTH, GA. — In a complex office leasing transaction, Rockwell Collins Satellite Communications Systems and Stiefel Labs have moved into each other’s Atlanta buildings, acquiring the office furnishings and the personalized build outs associated with each property. Rockwell Collins has leased a total of 175,000 square feet from Seefried Properties and FRAPAG. The property, located at the Northmont Distribution Center on Northmont Parkway in Duluth, had previously been occupied by Stiefel. The move served to consolidate Rockwell’s four locations into one building. Stiefel has leased 71,000 square feet of warehouse space, formerly occupied by Rockwell Collins, from StratREAL at the firm’s Satellite Place in Duluth. Bob Ward, Price Weaver, Pete Shelton and Ben Logue of Colliers Spectrum Cauble represented Rockwell Collins in the transaction. Douglas Campbell of The Campbell Group and Rob Metcalf and Nicole Janney of Jones Lang LaSalle represented Stiefel.
WEST PALM BEACH, FLA. — Palmetto Hospitality of West Palm Beach has opened the 114-unit Homewood Suites by Hilton West Palm Beach at 2455 Metrocentre Blvd. in West Palm Beach. Amenities include an executive business center, 600 square feet of meeting space, a swimming pool, a putting green and a BBQ area. OTO Development will manage the property.
GASTONIA, S.C. — Bill Matone of NorthMarq Capital’s Charlotte, N.C., office has secured a $3.06 million loan for the 102-unit Carriage House Apartments. The property is located in Gastonia. Freddie Mac financed the 10-year loan, which carries a 30-year amortization.
LAWRENCEVILLE AND DECATUR, GA. — Cushman & Wakefield has brokered the sale of two Atlanta-area apartment complexes for $43.5 million. B&M Management purchased the 586-unit Madison at River Sound from an undisclosed seller for $39 million. The property, which is 93 percent occupied, is located at 980 Walther Blvd. in Lawrenceville. Southwood Real Estate purchased the 254-unit Covington Glen from Freddie Mac for $4.5 million. Located at 5816 Covington Highway in Decatur, the property is 70 percent occupied. Chris Span, David Gutting, Larry Orr and Nathan Swenson of Cushman’s Atlanta office represented the buyers and sellers.
TAMPA, FLA. — Northview Realty Group has acquired the 280-unit Lofton Place apartment complex from an undisclosed seller for $16 million. The 17-acre property, which is located at 5412 Deerbrook Creek Circle in Tampa, is 97 percent occupied. Features include a swimming pool, a spa and a fitness center. ARA Finance funded 75 percent of the transaction with a 10-year loan at a 5.66 percent interest rate. Kevin Judd of Apartment Realty Advisors’ Orlando, Fla., office, Dick Donnellan of the firm’s Boca Raton, Fla., office and Patrick Dufour of the firm’s Tampa office represented the seller.
BOCA RATON, FLA. — Boca Raton-based Fimiani Development has been tapped as receiver of the 6,065-square-foot Yamato Plaza. The property is located adjacent to a Lifetime Fitness and a Hampton Inn on Yamato Road in Boca Raton. This assignment is the company’s first foray into receivership services.
RUSSELLVILLE, ALA. —Russellville Hospitality’s 60-room Russellville Hotel and Suites has joined the Best Western family, becoming Best Western Russellville Hotel and Suites. The property is located at 13770 Highway 43 in Russellville. Amenities include an outdoor swimming pool, a fitness center and a banquet and conference space.
ABINGDON, MD. — Ward Properties has broken ground on the 700,000-square-foot Boulevard at Box Hill mixed-use development. Located at the intersection of Woodsdale Road and Box Hill Center Corporate Drive in Abingdon, the 40-acre project will be built in multiple phases. When complete, the development will house more than 450,000 square feet of retail space, 50,000 square feet of restaurant space and 88,000 square feet of office space. Tenants will include Wegmans, national department stores and a 2,500-seat cinema.
CHATTANOOGA, TENN. — In November, Atlanta-based Jamestown will launch the newly redeveloped Warehouse Row, a mixed-use development featuring office suites, lofts and 330,000 square feet of retail and dining space. The property, which started life in 1904 as a series of warehouses, is located on Market Street in Chattanooga. After Jamestown purchased the development in 2006, Hefferlin + Kronenberg Architects helped the firm undertake an exterior and interior renovation of the space. The design studio Revival, Amanda Pinson Jewelry and The Cosmetic Market are among a handful of tenants that recently moved into the property.