ATLANTA — Beverly Hill, Calif.-based ExchangePoint Properties has completed a tenant-in-common transaction for Cameron Brook Apartments, a 440-unit multifamily facility located at 4659 Dawson Blvd. in Atlanta. ExchangePoint, which acquired the property 5 months ago for $26.2 million, has sold the complex to 35 TIC investors for an undisclosed amount. A $3 million renovation program is planned for the property, which houses a variety of one-, two- and three-bedroom units.
WESTMINSTER, MD. — Construction has begun on a 30,000-square-foot building within Carroll County Commerce Center, a 32-acre business community located at the intersection of Interstate 97 and Maryland Route 140 in Westminster. The single-story facility is slated for completion this fall, and will feature spaces starting at 2,100 square feet. Tenants within the larger 96,000-square-foot business park, which will be expanded to total approximately 200,000 square feet of office, warehouse and industrial space by the end of the project, already include the Carroll County Chamber of Commerce, the U.S. Department of Agriculture and Carleton Technologies. After completion of the latest phase, three additional buildings, including a two-story office project are planned. Robert Rosen, acting as owner and developer, has selected Townson, MD.-based NAI KLNB to handle leasing activities for the park.
VIRGINIA BEACH, VA. — The Goodman Company has opened Landstown Commons, a 510,000-square-foot retail development located at Princess Anne and Dam Neck roads in Virginia Beach. Retailers at the center, which is 90 percent leased, include Kohl’s, Ross Dress For Less, Bed Bath & Beyond, PetsMart, Office Max and Best Buy. Approximately 38,000 square feet of office space has been constructed at the center, and is available for leasing.
MIAMI — Erick Padilla of CB Richard Ellis has represented Los Angeles-based MICA LLC in the acquisition of 6,653 square feet of industrial space located at 10420 NW 37th Terrace within Cantel West Industrial Park in Miami. The facility was sold by Miami-based Hugo Jimenez for approximately $1.06 million. Cantel West houses 24 industrial properties totaling 180,000 square feet of Class A warehouse space. The seller was represented by Audley Bosch of Cushman & Wakefield.
ATLANTA — Florida-based Website Pros Inc. has been represented by Jones Lang LaSalle in the subleasing of 45,000 square feet of office space located at 303 Peachtree Center Ave. within the SunTrust Garden Offices building in Atlanta. The space was leased by Portman Holdings LLC to house the firm’s management, accounting and architecture divisions. Website Pros has retained 27,000 square feet of space within the 650,000-square-foot facility.
GAITHERSBURG, MD. — Construction is underway on the $9 million renovation of the Holiday Inn Gaithersburg, which is located at 2 Montgomery Ave. The exterior renovation, which includes a complete upgrade of the façade, is 50 percent complete. Interior renovations include high-tech amenities in each of the 300 guestrooms, a revitalization of the main ballroom and an expanded business center. Environmentally sound improvements at the facility include low-flow toilets and showerheads, recycling containers in every guestroom, and environmentally friendly paint. During construction, the hotel will remain open for business.
ALEXANDRIA, VA. — KeyBank Real Estate Capital has arranged a $43.5 million Freddie Mac loan for 3001 Park Center Apartments in the Washington, D.C., suburb of Alexandria. The 16-story high-rise community, which was 90 percent occupied at the time of funding, houses 326 units on 5 acres. Financing was provided by Park Center Associates for a 15-year term with a 30-year amortization. Prior to Freddie Mac funding, KeyBank had provided a $7 million bridge loan to fund the property’s rehabilitation.
GARNER, N.C. — On behalf of Golden State Foods, The Staubach Company has arranged the acquisition of a 130,000-square-foot facility located on Greenfield Parkway in Garner. Golden State Foods was represented by Christopher Skibinski and Kimberly Kendall of Staubach’s Charlotte, N.C., office; the building owner, Craig Davis Properties, was represented in-house by Will Greene and Jack Dunn.
CHARLOTTE, N.C. — Ferncroft Capital has acquired Hunter’s Crossing, a 93,782-square-foot, grocery-anchored retail center, which is located in Charlotte, for an undisclosed amount. Tenants in the center include Lowes Foods, CVS/pharmacy, Dunkin’ Donuts and Wendy’s. Berkeley Capital Advisors LLC has represented the seller, Crosland LLC, which has been retained to lease and manage the property. Acquisition financing for Charlotte-based Ferncroft Capital was provided by Carolina First.
HERNDON, VA. — On behalf of Dallas-based Ashford Hospitality Trust, Molinaro Koger has arranged the sale of the Hyatt Hotel Washington Dulles International Airport located in Herndon Virginia. The 316 all-suite facility was acquired by Annapolis, Md.-based Thayer Lodging Group. With a Four-Diamond rating, the hotel will retain the Hyatt brand and continue to be managed under a long-term agreement with Global Hyatt Corporation. Amenities at the facility, which is located less than 2 miles from Washington Dulles International Airport, include an indoor pool, a high-energy fitness center and 10 meeting rooms with 7,250 square feet of meeting space. The price of the acquisition was not disclosed.