BLUFFTON, S.C. — Crosland and Reed Development are developing the 57-acre Buckwalter Commons, a mixed-use property at the future intersection of U.S. Highway 278 and the planned Hampton Parkway in Bluffton, near Hilton Head Island. Construction on Phase 1, consisting of 135,000 square feet of retail space, will begin next year, with a 53,543-square-foot Harris Teeter opening in early 2011. A second phase will include medical facilities and office buildings.
MIAMI, FLA. — Developer Wellington Construction Group commissioned Coral Gables-based BCArchitects to design the three-story, 18-unit Midtown Gardens in Midtown Miami. The property, located at 776 NW 30th St., will be composed of two-bedroom units. Groundbreaking is scheduled for early next year with a completion date of late 2009.
GREENVILLE, S.C. — Construction began on Windsor/Aughtry Company’s $45 million six-story, mixed-use Main at Broad, located on the corner of Main and Broad streets in downtown Greenville, which will include a 135-room hotel and 65,000 square feet of office and retail space. When completed in fall 2009, Nantucket Seafood Grill will be one of the first tenants.
HAMPTON, VA. — Henry F. Brandenstein sold the Hampton Bay Plaza and Suites, located at Interstate 64 and Mercury Boulevard in Hampton, to CAAP Hospitality, a local investment group with plans to renovate and redevelop the building, for $2.3 million. David Mumford of the Mumford Company’s Newport News headquarters represented the seller.
PEACHTREE CITY, GA. — Grubb and Ellis Apartment REIT acquired the 252,000-square-foot, 216-unit multifamily property AMLI at Kedron Village from AMLI Residential and Prudential Real Estate Investors. The 21.6-acre property, located at 100 Hyacinth Lane in Peachtree City, includes fitness and business centers and a swimming pool. Engler Financial Group represented the seller, and financing was arranged by Capmark Finance.
CORAL GABLES, FLA. — Florida-based Venera Holdings recently sold the 59,155-square-foot Whole Foods Market, located in Plaza San Remo in Coral Gables, for $31.1 million. The retail space anchors the shopping center, located at 6705 Red Road. Colliers Abood Wood-Fay represented the seller, and information about the buyer was not released.
DECATUR, GA. — Grubb & Ellis Healthcare acquired Decatur Medical Plaza, a 43,000-square-foot, three-story building located at 200 E. Ponce De Leon Avenue in Decatur. The property, which was renovated in 2007, is composed of four units, which are all currently leased. Stewart Calhoun of Cushman & Wakefield’s Atlanta office represented the buyer.
ALEXANRDIA, VA. — B&B Realty Investments received a $13 million mezzanine loan from Cohen Financial for the purchase of the 271,688-square-foot Alexandria Corporate Park, which was sold by Bethesda, Md.-based First Potomac Realty Trust. The flex property, located at 6315 Bren Mar Drive, is fully occupied by a variety of tenants, including the General Services Administration. Mark Strauss and Kevin Greenberg of Cohen Financial’s Newport Beach office arranged the financing for the buyer.
MIAMI — RREEF Real Estate purchased the Town & Country Corporate Center in Miami, a five-story, 117,458-square-foot office building located at Kendall Drive and 117th Avenue, for an institutional client. Gabe Menocal of Miami-based Powerhouse Realty represented RREEF in the purchase from KICAN Realty. The sale amount was not released.
ALEXANDRIA, VA. — Transwestern Realty Finance Partners, a commercial real estate investment firm, closed an $11 million loan for MGP Real Estate’s acquisition of the 348,218-square-foot, four-building office property Braddock Place. This is the second time the investment and real estate companies have worked together on financing.