ATLANTA — Atlanta-based IDI Services Group has extended Menlo Worldwide Logistics’ lease of the 256,700-square-foot Shawnee Ridge Building 3, located in Shawnee Ridge off Interstate 85 in Atlanta, for 5 years. Menlo Worldwide, which will occupy the space until September 2013, has used the warehouse for inventory management and product distribution since April 1995.
Southeast
RICHMOND, VA. — Dallas-based Archon Group has broken ground on its 238,000-square-foot mixed-use development The Corner at Short Pump, located across the street from the Short Pump Town Center in Richmond. The 41-acre project will be anchored by an 86,000-square-foot Kroger Market Store and will feature 79 townhomes. Kroger will open late next year, and the rest of the center will deliver during the first quarter of 2010.
MIAMI — Under a contract with Flagler Construction, Tilt-Con Corp. of Orlando, Fla., has commenced construction of the 189,140-square-foot Beacon Lakes Building 12 in Miami. The warehouse was designed by Boca Raton, Fla.-based RLC Architects and is expected to deliver in December.
VIRGINIA BEACH, VA. — Boston Capital Finance recently closed a permanent loan for the 174-unit Ocean Gate Apartments, located near the Norfolk Virginia Beach Expressway in Virginia Beach, for $10.4 million. The 15.33-acre complex encompasses 20 two-story buildings. Apartment amenities include a swimming pool, fitness center and two playgrounds.
MILTON AND NORCROSS, GA. — An entity of EOLA Capital has sold the 170,400-square-foot Deerfield Professional Centre and the 163,000-square-foot Peachtree Corners Corporate Centre in a package deal to Crown West Realty for $38.6 million. Deerfield, which consists of three single-story buildings, sits on 17.3 acres at 13000 Deerfield Pkwy. in Milton. The property is 95 percent leased by tenants such as BB&T Payroll Services, the city of Milton and Exide Technologies. Peachtree Corners, located at 4775 and 4855 Peachtree Industrial Blvd. in Norcross, is 62 percent leased and houses Elekta Instruments and Toshiba America Business Solutions.
HUDSON, FLA. — Jacksonville, Fla.-based Case Pomeroy Properties has sold the 79,283-square-foot Fairway Oaks Shopping Center, located at the intersection of Little Road and Hudson Avenue in Hudson, to Atlanta-based Forge Capital Partners for $7.62 million. The 14-year-old property is anchored by a 42,323-square-foot Publix and is 84 percent leased. Karl Johnston and Patrick Berman of Cushman & Wakefield represented the seller.
ORLANDO, FLA. — Southland Florida Properties has sold a 50,000-square-foot warehouse, located at 3001 Director’s Row in Orlando, to Director’s Row LLC for $3.75 million. The building, which is in the Orlando Central Park, is 100 percent occupied. Susan Ruby of Cushman & Wakefield’s Orlando office represented the seller.
HOLLYWOOD, FLA. — Bealls Outlet Stores has set its sights on the 138,056-square-foot Hollywood Festival Shopping Center, located at the intersection of Taft Street and 66 Avenue in Hollywood, signing an 8-year lease worth $1.12 million. The 20,020-square-foot store will open its doors next spring. Bealls will join Winn-Dixie, Family Dollar, CVS/pharmacy, RadioShack and Foot Locker in the shopping center. Tim Neal of Fort Lauderdale, Fla.-based Neal Realty & Investments represented the landlord in the transaction.
BENTONVILLE, ARK. — North Carolina-based The Generation Companies will open a 118-room Suburban Extended Stay Hotel in Bentonville this month. Developer Nueterra Real Estate Development of Leawood, Kan., outfitted each hotel room with fully-functional kitchens. Hotel amenities include wireless Internet, weekly housekeeping and on-site laundry. Tara Primm of Generation will serve as general manager.
FAIRFAX, VA. — San Francisco-based Carmel Partners has acquired the 250-unit Avera Station in Fairfax through its Carmel Partners Investment Fund III for $65.8 million. The property, which was built this year, was designed to be condominiums. The buyer intends to rent the units as apartments and has renamed the property Carmel Vienna Metro. Site amenities include a fitness center, theatre room, business center, yoga room, pool and a clubhouse. Further details of the transaction were not released.