GREENSBORO, N.C. — Market Street Storage, a venture between Gateway Holdings of Winston Salem, N.C., and Return Holdings of Charlotte, N.C., has opened the nearly 100,000-square-foot Gateway Storage Solutions. The 8.3-acre property is located at 3939 W. Market St. in Greensboro. Gateway Storage is a repositioned warehouse formerly operated by Flav-O-Rich Dairy. Landmark Builders of the Triad provided construction services, and High Point Bank provided financing for the project.
ASHLAND CITY, TENN. — Jacksonville, Fla.-based Summit Contracting Group will soon start construction of The Vantage Pointe Homes at Marrowbone Heights for Montgomery, Ala.-based Vantage Pointe Homes. The 200-unit property is spread across nine buildings in Ashland City.
AUSTELL, GA. — Atlanta-based QR Capital has purchased the 146-unit Kingsley Village Apartments from Freddie Mac for an undisclosed amount. The purchase is the firm’s first deal since its inception 5 months ago. Kingsley Village is located on 12 acres in Austell. Cushman & Wakefield’s Atlanta office brokered the sale.
TAMPA, FLA. — Humana Medical Plan has signed a 170,051-square-foot lease renewal worth $18.5 million with Triple Net Properties. The space is located in the NetPark property at 5701 E. Hillsborough Ave. in Tampa. Humana has occupied the building, where it employs 1,000 workers, since 2005. Jeff Tolrud of Colliers Arnold negotiated the deal.
HAVRE DE GRACE, MD. — In a joint venture with Baltimore-based MCB Real Estate, The Hampshire Cos. of Morristown, N.J., has purchased a 502,678-square-foot warehouse from The Sun Products Corporation for an undisclosed amount. The property is located at 1900 Clark Rd. in Havre De Grace. Sun Products, the manufacturer of Solo Cups, will remain the sole tenant in the building and plans to expand its space by 110,000 square feet.
TEMPLE TERRACE, FLA. — AIMCO has sold the 256-unit Fisherman’s Landing Apartments in Temple Terrace to a London-based company for $15 million. The property, which was built in 1986, is 95 percent occupied. Amenities include a social area, canoe and boat storage, a fitness center, and pool and sports courts. Jamie May and Matt Mitchell of Tampa-based JBM of Marcus & Millichap represented the seller.
SINGER ISLAND, FLA. — Bethesda, Md.-based Urgo Hotels has purchased the 239-unit Resort at Singer Island from WCI Communities for $7.1 million. The property, which is located on 6 acres of beachfront land in Singer Island, has been rebranded as the Palm Beach Marriott Singer Island Beach Resort & Spa. Amenities include an 8,500-square-foot spa, a 1,170-square-foot fitness center and an infinity pool. Urgo purchased the property out of bankruptcy.
MCDONOUGH, GA. — Fortune Group has purchased an 83,070-square-foot industrial building in McDonough from a private seller for an undisclosed price. The property is located at 2517 Highway 42 N. Jerry Buckner of Atlanta-based Buckner & Co. represented the buyer. Brent Weitnauer of CB Richard Ellis’ Atlanta office represented the seller.
RESTON, VA. — Calkain Site Services has released its Net Lease Single-Tenant Retail Report, Fall 2009 edition, which trends cap rates and market conditions across different property segments. Research from the report was compiled from various third party sources and includes perspectives on the the general retail market and financial performance of key net-lease tenants. The report is available at http://calkain.com/reports/NetLeaseSingleTenantRetailReport-Fall2009.pdf
LINTHICUM, MD. — Corporate Office Properties Trust has purchased the newly completed 156,215-square-foot Nursery Corner from the Circuit Court of Arundel County, the building’s receiver, for $38 million. The property, located at 1550 W. Nursery Rd. in Linthicum, is fully leased by Northrup Grumman, who will move in later this month. Opus East was constructing the building when it went into receivership on June 30; the circuit court then engaged the help of third-party construction management and CB Richard Ellis to finish the building. Jonathan Beard of CB Richard Ellis’ Baltimore office and Jeffrey Ackerman and Ryan Sciullo of the firm’s Pittsburgh office represented the seller in the transaction.
