HENRICO COUNTY, VA. — Mugford Property Associates has purchased a 41,112-square-foot retail property from Royal Oldsmobile Co. and E.W. Mugford for $3 million. The building, located at 8200 W. Broad St. in Henrico County, will serve as the location for the Royal Collision Center. Thalhimer’s Millard F. Jones, II, represented the seller.
Southeast
ALEXANDRIA, LA. — Stirling Properties is in the final stages of its renovation of the 190,000-square-foot MacArthur Village in Alexandria and is set to welcome a host of new tenants. The center, which is anchored by a 66,612-square-foot Kroger, will celebrate the opening of a 25,000-square-foot Hastings Entertainment right before Thanksgiving. Snap Fitness will open a location before the end of the year, and 11,000 square feet of retail space is in the pre-leasing stages. A 7,138-square-foot Texas Roadhouse will open in February 2009, and an undisclosed tenant will open its doors next spring.
OLIVE BRANCH, MISS., AND MEMPHIS, TENN. — Greensboro, N.C.-based New Breed has leased two industrial properties from ProLogis. In Olive Branch, New Breed leased two buildings, totaling 469,232 square feet, at 8640 Nail Rd. in the ProLogis Park Desoto. New Breed also renewed its 163,800-square-foot lease at 3676 Raines Rd in Memphis, a ProLogis-owned development. Steven Podolsky of Riverwoods, Ill.-based Podolsky Northstar Realty Partners/CORFAC International and Treat Macdonald of Crump Commercial LLC/CORFAC International represented New Breed.
MIAMI — Miami-based Gutierrez Group has broken ground on the 126,000-square-foot Highland Park Center, located at 1001 Sunnybrook Rd. in Miami. The 11-story, Class A medical office building is being constructed to silver LEED standards. Delivery is expected by next winter.
WASHINGTON, D.C. — Woodmark Commercial Services has represented 2021 L Street Investors in its sale of a 75,457-square-foot office building to The American Society of Hematology for an undisclosed amount. The seller acquired the 10-story, Class A building last year and completely renovated the property, adding two additional floors and new electrical and plumbing systems. Paul Ehrenreich of CresaPartners represented the buyer, who will move into the building’s top five floors in the latter half of 2009.
MOBILE, ALA. — Construction has commenced on a 54,340-square-foot Publix at the Shoppes of Fairhope Village in Mobile. The store will join 30,400 square feet of small shop space and three outparcels. Delivery of the shopping center, located at the intersection of U.S. Hwy. 98 and Parker Road, is slated for spring 2009.
PORTSMOUTH, VA. — City Line Plaza LLC has purchased the 25,000-square-foot City Line Plaza Shopping Center in Portsmouth from Elliot Cohen Partners for $3.85 million. The 3-acre center includes a restaurant outparcel. Norfolk, Va.-based S.L. Nusbaum Realty Co.’s Doug Aronson represented the buyer, and Rennie Richardson of Norfolk-based Richardson Real Estate represented the seller.
KISSIMMEE, FLA. — Orlando, Fla.-based Roger B. Kennedy Inc. has broken ground on the $27.5 million Westgate Town Center Building 4000. The eight-story Kissimmee vacation rental property is being constructed for Westgate Resorts and was designed by Jacksonville, Fla.-based Bergman Associates-Architects. The building will deliver in December.
RADFORD, VA. — MVF-RAJ has sold the 72-unit Comfort Inn & Suites of Radford, located at 2331 Tyler Rd., to MPWG for $5.25 million. The buyer plans to renovate the property, which was built in 2002. Ed James, David Mumford and Matt Winston of Newport News, Va.-based The Mumford Company represented the seller.
HANAHAN, S.C. — Jones Apparel Group USA has subleased 150,148 square feet to Eagan, McAllister Associates, a subsidiary of Science Applications International Corp. The warehouse, located at 7410 Magi Dr. in Hanahan, is also leased to Stanley, which occupies 150,000 square feet. Eagan, McAllister Associates will use the building for outfitting mine-resistant vehicles. David Barber of Binswanger’s Atlanta office represented Jones Apparel, and Colliers Keenan represented Eagan.