CHESTER COUNTY, S.C. — Southeastern Petroleum and its majority stakeholder, Pesco-Beam Environmental Solutions, have broken ground on a $30 million facility in Chester County. The project has created 24 new jobs. Southeastern Petroleum manufactures environmentally friendly base oils used in lubrication production and estimates an annual output of 10 million gallons from the new property. Plans also call for a research and development center for Pesco-Beam.
ELKRIDGE, MD. — Kennedy Associates Real Estate Counsel has sold a 141,600-square-foot warehouse to Cabot Properties for $8.7 million. The property, which is fully leased, is located in the Meadowridge Business Park at 6675 Business Parkway in Elkridge. Gerry Trainor and Mark Glagola of Transwestern’s Washington, D.C., office represented the seller.
LAKELAND, FLA. — Orlando, Fla.-based Construct Two Group has completed its renovation and expansion of the Coleman-Bush Building, upgrading 20,328 square feet and expanding 2,420 square feet of space. The $1.8 million project included constructing larger meeting rooms, more spacious restrooms and offices for Lakeland’s Code Enforcement and Housing departments. The government property is located on Martin Luther King, Jr., Drive in Lakeland. The local firm Swilley Curtis Mundy Hannicutt Associates Architects designed the project.
ALTAMONTE SPRINGS, FLA. — Geoffrey Harris of Mark One Capital’s Phoenix office and Farhan Kabani of the firm’s Dallas office have secured a $1.5 million loan for the purchase of a Macaroni Grill Restaurant. The 7,179-square-foot property is located at 844 W. S.R. 436 in Altamonte Springs. A portfolio lender provided financing for the 5-year loan. The loan carries a 6.5 percent interest rate and a 25-year amortization.
DUNNELLON AND OCALA, FLA. — Ocala-based Edwards Construction Services is eyeing a second quarter 2010 completion of two classroom school wings for the School Board of Marion County. Starting this fall, the firm will construct a 10-classroom wing at Romeo Elementary School in Dunnellon and a 12-room expansion at Evergreen Elementary School in Ocala. Included in the projects are construction of new play areas and multi-purpose courts.
BOYNTON BEACH, FLA. — Orlando, Fla.-based Keene Construction Co. is nearly finished with Buildings A and F, which encompass 27,000 square feet in the Shoppes at Woolbright, a Boca Raton, Fla.-based Woolbright Development retail project. The property is located at the intersection of Jog and Woolbright roads in Boynton Beach and includes a 46,031-sqaure-foot Publix. Marc Wiener Associates of Boca Raton designed the project.
REX, GA. — Marcus & Millichap has brokered an undisclosed company’s sale of a 9,180-square-foot Family Dollar store in Rex to an undisclosed firm for $1.45 million. The property is located in a grocery-anchored shopping center at 6502 Dale Rd. Robby Pfeiffer of the firm’s Atlanta office and Pete Paule and Jesse Roberts of the firm’s Charlotte, N.C., office represented the seller.
HUNT VALLEY, MD. — Atradius has leased 21,000 square feet of office space from Merritt Properties at 230 Schilling Circle in Hunt Valley. The property, Schilling Green, is a three-story, Class A building that features new HVAC systems and a green roof. Whit Levering, Pat Franklin and Lou Boeri represented the landlord in house, and Tim Jackson of Cushman & Wakefield’s Baltimore office represented Atradius.
BATON ROUGE, LA. — Irvine, Calif.-based Thompson National Properties represented Delaware Statutory Trust investors in the acquisition of the 276-unit Millennium Town Center apartment complex from an undisclosed seller for an undisclosed price. The luxury multifamily property is spread across 11 buildings at 6810 Jefferson Highway in Baton Rouge.
NASHVILLE, TENN. — Freeman Webb Investments has acquired the 156-unit Arbors at Southern Hills Apartments from TRB Arbors for $3.95 million. The property is located at 371 Wallace Rd. in Nashville. Freeman had previously purchased the property in 1992 for $2.5 million and sold it in 2006 for $6.6 million. TRB Arbors had originally listed Southern Hills for $9.3 million. Steve Massey of CB Richard Ellis’ Nashville office and William Kirkland of The Kirkland Company in Brentwood, Tenn., brokered the transaction.