FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the sale of the 20,444-square-foot Nicole’s Place shopping center between two local parties for $1.95 million. The property, which includes a 3,554-square-foot freestanding Burger King, is located at 2901 W. Commercial Blvd. in Fort Lauderdale. Drew Kristol, Kirk Olson and Jonathan Gerszberg of the firm’s Miami office represented the seller. The firm’s Greg Zeifman and Benjamin Silver represented the buyer.
Southeast
DURHAM, N.C. — The 125-room Hotel Indigio Durham-Research Triangle Park has opened in Durham. Features of the hotel include 1,600 square feet of meeting space, a business center and the Phi Bar and Bistro. Hotel Indigo also is planning continued expansion in North Carolina and will open a 100-room property in Asheville and hotels in Charlotte, Wilmington and Winston-Salem.
ARLINGTON, VA. — The General Services Administration, on behalf of the Department of Defense, has signed a 221,084-square-foot lease renewal with Piedmont Office Realty Trust. The DOD will occupy the property, which is located at 3100 Clarendon Blvd. in Arlington, through 2018. Henry Chapman of CB Richard Ellis’ McLean, Va., office represented the GSA. Marcy Owens Test of Jones Lang LaSalle’s Washington, D.C., office and Piedmont’s Ken Mulrane represented the tenant.
CULPEPER AND STEPHENS CITY, VA. — Boston Capital has secured more than $3 million of funding for the renovation of two Virginia apartments. The 42-unit Meadowbrook Heights Apartments in Culpeper will undergo exterior renovations and all units will receive EnergyStar appliances. Each unit in the 46-unit Stephens Village Apartments in Stephens City will also receive EnergyStar appliances. After renovations are complete, both complexes will be awarded green certification by EarthCraft Virginia.
MIAMI — LKS Associates has leased an 8,000-square-foot property to an undisclosed party for a new CVS/pharmacy location. The tenant will demolish the existing Roadhouse Grill to make way for the 13,000-square-foot drug store. Located in the Kendall Value Center on Sunset Drive in Miami, the property will contain two drive-thru lanes. Continental Real Estate Cos.’ Carlos Guzman represented the landlord. Kendall Value Center is now fully leased.
LEXINGTON, KY. — Health Management Associates has sold an 11,648-square-foot office building to an undisclosed party for $1.3 million. The 7-year-old property is located at 425 Lewis Hargett Circle in Lexington and is fully occupied. Ken Silvestri of Lexington-based Silvestri-Craig Realtors brokered the sale.
WINTER SPRINGS, FLA. — Altamonte Springs, Fla.-based Forum Architecture & Interior Design has completed plans for the 60-unit Greens at Tuscawilla condominium development. The Winter Springs property will encompass 15 buildings, which will house four units each. Congressional Homes is developing the complex, and Structural Concepts & Design will provide engineering services.
SALISBURY, MD. — Chicago-based Mayfair MDCC has sold a 25,000-square-foot former Circuit City store to an undisclosed party for $2.58 million. The property is spread across 2.24 acres at 2640 N. Salisbury Blvd. in Salisbury. Spirit Halloween is currently occupying the space through October. Henry Hanna and Wesley Cox of Sperry Van Ness – Miller Commercial Real Estate in Salisbury represented Mayfair in the transaction. Blair Rinnier of Salisbury-based Rinnier Development represented the buyer.
BESSEMER, ALA. — Target Container Co. has signed a lease renewal with an undisclosed landlord for 80,500 square feet of warehouse space in the Perimeter Industrial Park. The property, which is located at 4978 Perimeter Way in Bessemer, has housed Target for 15 years. Sonny Culp of Birmingham, Ala.-based Graham & Co. represented the tenant in the lease. Birmingham-based EGS Commercial Real Estate’s Brad Moffat represented the landlord.
MIAMI — Miami-based Stonemason Partners has completed fundraising for a fund designed to acquire more than $100 million worth of multi-tenant retail and distressed property in the Southeast. During the next 4 years, Stonemason will buy property with the goal of redeveloping, re-tenanting and repositioning the assets.