ANDERSON, S.C. — DG Properties II has purchased a 9,014-square-foot Dollar General store from a private seller for an undisclosed amount. The property is located at 3502 E. River St. in Anderson. Robert Griggs of Greenville-based Waterford Enterprises brokered the transaction on behalf of DG Properties. P. Randall Bentley, Jr., of Bentley Commercial/CORFAC International represented the seller.
Southeast
WASHINGTON, D.C. — New York City-based Integra Realty Resources has formed the Integra Rapid Response Team to help valuate commercial real estate assets. The economic crisis is a huge roadblock to properly assessing commercial assets, and the team was formed as a way to lessen the uncertainly associated with the market value of properties. Joseph Pasquarella of the firm’s Philadelphia office will lead the division, which will also include appraisers from the firm’s 57 locations. Integra has offices in Washington, D.C., Georgia, Florida, Kentucky, North Carolina, South Carolina, Tennessee and Virginia.
HAGERSTOWN, MD. — The Oekos Group has purchased the 110,000-square-foot Stone House Square shopping center from its developer, Faison, for an undisclosed price. The newly completed center, located at the intersection of Leitersburg Pike and Cortland Drive in Hagerstown, is anchored by Weis Supermarkets and Lowe’s Home Improvement Warehouse. Stone House is 90 percent occupied by Chevy Chase Bank, Starbucks Coffee, Greene Turtle and Friendly’s, among others. Mike Gorsage and Kate Howarth of Baltimore-based H&R Retail brokered the sale.
NAPLES, FLA. — Starwood Capital Group has secured a $35 million loan for the 350-unit Carlisle Naples, an assisted-living facility in Naples, from NorthMarq Capital. Freddie Mac financed the 5-year loan, which comes with a 30-year amortization. Compie Newman and Ernest DesRochers of NorthMarq’s Charlotte, N.C., and New York City offices, respectively, arranged the loan.
ROYAL PALM BEACH, FLA. — Keene Construction Co. has broken ground on a 90,000-square-foot Kohl’s department store at 8751 Southern Blvd. in Royal Palm Beach. The store, which marks Keene’s tenth Kohl’s property in Florida, is scheduled for completion early next year. Scott & Goble Architects designed the project.
NASHVILLE, TENN. — SDG Value Fund I has purchased a controlling interest in the 50,000-square-foot Point Place II office building from an undisclosed party for an undisclosed amount. The two-story brick property was built in 1985 and is located on Donelson Pike in Nashville. The building is currently 16 percent leased; SDG will use its interest to re-tenant the building. Kim Nelson of Nashville-based Interstate Partners Real Estate brokered the transaction, and American Security Bank & Trust provided financing.
ORLANDO, FLA. — ZaZi Properties has purchased the 5,462-square-foot Penn of Orlando medical office building from Penn of Florida for $1.45 million. Located south of the Orlando Regional Medical Center at 51 Pennsylvania Ave. in Orlando, the property features a surgery room, nurse stations, private doctor offices and an X-ray room. Atlanta-based Carter’s Todd Davis and Dave Kowalchuck represented the buyer, and Beau Beery of Gainesville, Fla.-based AMJ represented Penn of Florida.
AUSTELL, GA. — CB Richard Ellis has arranged a $21.04 million loan for an undisclosed Florida investor’s acquisition of the 518-unit Birch Landing Apartments in Austell. The loan comes with a 24-month interest-only period, a 30-year amortization and an 80 percent loan to value ratio. Dennis Jimenez of CB Richard Ellis’ Orlando, Fla., office secured the loan.
SUNRISE, FLA. — An affiliate of Chicago-based Corus Bankshares has taken ownership of the 396-unit Tao Sawgrass Condominiums from an affiliate of Weitzer Communities. The complex consists of two 26-story towers located adjacent to the Sawgrass Mills Mall in Sunrise. Property amenities include a pool and spa, a fitness center, massage rooms, a tennis court and a putting green. The bank has hired Hyperion Development Partners to complete development of the property. Units in the complex should start closing next month.
ALPHARETTA, GA. — Ohio-based The Connor Group has purchased the 220-unit Ashley Forest apartment complex in Alpharetta from an undisclosed party for $16.2 million. This purchase marks Connor’s 13th acquisition in Atlanta in the past 5 years, totaling 3,600 apartment units. The company also plans to purchase two additional complexes in the Atlanta metro area by the end of the year.