Southeast

HUNTSVILLE, ALA. — McShane Construction Co. has broken ground on a 62,500-square-foot office building, located on 10 acres at 7115 Old Madison Pike in Huntsville. The two-story property will be built to LEED standards. The developer, Triad Properties Corp., has leased the development to Defense Acquisition University, a continuing education school for military and civilian personnel. The U.S. General Services Administration represented the tenant in the transaction. When complete in January, the property will contain 13 classrooms, administrative offices and a fitness center.

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MIAMI — Orlando, Fla.-based Keene Construction Co. has broken ground on Brandon Structures of Orlando’s 67,931-square-foot Promenade at Silver Palm shopping center. The property is located at the intersection of S.W. 232nd Street and S.W. 112th Street in Miami. A 46,031-square-foot Publix will anchor the center, which is slated for delivery in November. Coral Gables, Fla.-based Alleguez Architecture designed the property.

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BIRMINGHAM, ALA. — After obtaining approval from the state of Alabama and the Federal Reserve Bank of Atlanta, Birmingham-based Regions Financial Corp. has decided to open nine new branch locations. Southeast cities targeted for the expansion are Little Rock, Ark.; Destin and Pompano Beach, Fla.; Atlanta, East Point and Suwanee, Ga.; Ridgeland, Miss.; and Lenoir City, Tenn. Regions currently operates 1,900 branches in 16 states.

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INMAN, S.C. — Ridge Point Church of God has sold a 17,275-square-foot building to Breakthrough Outreach Center for an undisclosed amount. The property is located at 640-660 Lyman Rd. in Inman, S.C. Deborah Williams of Re/MAX Adventure Realty in Spartanburg, S.C., represented the buyer. The seller was represented by Deanna Hemberger of Greenville, S.C.-based Bentley Commercial/CORFAC International.

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GREENVILLE, S.C. — A joint venture between Charlotte, N.C.-based Flagship Capital Partners and Baltimore-based Alex. Brown Realty has purchased the 45,000-square-foot Eastside Medical Center from Hotzfam Trusts for an undisclosed amount. The property is located on Enterprise Boulevard in Greenville. Grandbridge Real Estate Capital’s Rob Vaughn arranged financing. Brannen Edge and Bill Transou represented Flagship in house, and the seller was represented by Colliers Keenan’s Bucky Tarleton, who works in the firm’s Greenville office.

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NAPLES, FLA. — Naples-based CORE Construction Florida has been selected to construct a new museum for the Marco Island Historical Society in Naples worth $2.86 million. The property will encompass a 6,242-square-foot living history hall and an 11,000-square-foot building for exhibits and offices. The property will include a specially designed vault to house the Key Marco Cat, a Calusa Indian wood carving unearthed by Frank Hamilton Cushing in 1895. Delivery of the property is expected in January.

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DELMAR, MD. — Kraus Development, a subsidiary of Baltimore-based Leonard Kraus Co., has purchased a Delmar warehouse from an undisclosed seller for an undisclosed price. The property, located at 503 S. Maryland Ave., can be broken up into units ranging from 6,375 square feet to 50,000 square feet. This gives the space a variety of loading configurations, office spaces and ceiling heights. John McClellan of Salisbury, Md.-based Sperry Van Ness – Miller Commercial Real Estate brokered the sale.

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CASSELBERRY, FLA. — LaSalle Investment Management has borrowed $18.25 million for its 408-unit Harbor at Lake Howell apartment complex. The property, which sits on 34 acres at 1280 Vinings Lane in Casselberry, is 90 percent leased. Apartment amenities include two swimming pools, a tennis court, a fitness center and a business center. Freddie Mac financed the 7-year, adjustable-rate loan. John Rose of Holliday Fenoglio Fowler’s Dallas office and Paul Stasaitis and Elliott Throne of the firm’s Coral Gables, Fla., office secured the loan.

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