ORLANDO, FLA. — Seattle-based Nordstrom Inc. will open a 35,000-square-foot Nordstrom Rack store within Millenia Crossing in Orlando. The store, which is the first Nordstrom Rack in the Orlando area, will open in spring 2009. Located around Millenia Mall, Millenia Crossing is a 100,000-square-foot open-air retail development that is slated for completion in 2009. Madison, Wis.-based E.J. Plesko & Associates is developing the center; Madison Marquette is the leasing consultant.
PANAMA CITY, FLA. — Bill Mitchell of iCap Realty Advisors’ Atlanta office has arranged $6.5 million in refinancing for a 67,610-square-foot, Publix anchored shopping center in Panama City. The loan was provided for the borrower at a fixed rate of 5.64 percent for a 15-year term with a 15-year amortization. One of iCap’s life insurance company correspondants financed the loan.
CHARLOTTE, N.C. — Tiffany Slayden of Trinity Partners represented Connor Land Co. in the $1 million sale of a two-story office facility located at 1713 Cleveland Ave. in the Dilworth neighborhood of Charlotte. The 5,000-square-foot building was acquired by WebsiteBiz. The buyer was represented by John Stipp of Office Properties.
RICHMOND, VA. — On behalf of Partners Health Trust, Trammel Crow Co., in collaboration with Henrico Doctors’ Hospital, is building a 95,000-square-foot medical office building located at 7611 Forest Ave. in Richmond. The four-story Forest Medical Plaza, which is on Henrico Doctors’ Hospital’s main campus, is slated for completion in April 2009. Virginia Cardiovascular Specialists has leased more than 17,000 square feet on the facility’s first floor; additionally, Henrico Doctors’ Hospital has signed a 20,000-square-foot lease for an ambulatory surgery center that will contain four operating rooms. Lewis Stoneburner and Walton Makepeace of CB Richard Ellis’ Richmond office will handle the leasing for the building.
SUFFOLK, VA. — Thalhimer, a member of the Cushman & Wakefield Alliance, has represented Ashley Capital in the lease of 81,204 square feet of warehousing/distribution space within the 750,000-square-foot Bridgeway Business Center in Suffolk. Richmond, Va.-based The Dixie Group has leased the facility, which is located at 6701 College Dr. Dixie plans to invest $2.6 million in the facility that will specialize in the handling of large and oversized equipment and power-generated machinery. Thalhimer’s Patrick Mumey, Robert Phillips and Scott Wermer handled the negotiations.
MIAMI BEACH, FLA. — On behalf of Oaktree Capital, Jones Lang LaSalle Hotels has brokered the $24.8 million sale of the Breakwater Edison Hotel in Miami Beach to Nakesh. LaSalle was retained by the appointed bankruptcy trustee for the hotel, Barry Mukamal of Rachlin LLP. The property, which combines two buildings that can accommodate 94 guestrooms, is undergoing significant redevelopment.
CARY, N.C. — Regency Centers has completed the redevelopment of Shoppes of Kildaire, a retail center located at the intersection of Cary Parkway and Kildaire Farm Road in Cary. Redevelopment of the center began earlier this year, with Phase II renovations including exterior façade upgrades, new and wider sidewalks, and a new lighting package. Several merchants have signed leases in the development that is anchored by Trader Joe’s, Staples and Gold’s Gym.
CHARLOTTE, N.C. — Colliers Pinkard has brokered the $22.4 million sale of the 240,760-square-foot portfolio of five multi-tenanted flex buildings in South Point Business Park located off of Carowinds Boulevard in Charlotte. Windsor Realty Fund VII, sponsored by Boston-based General Investment & Development Co., has acquired four buildings totaling 176,360 square feet in size, and a tenant has bought one building totaling 64,400 square feet. Rob Cochran, John Cashion and Keith Bell of Colliers represented the owner, Carlson Real Estate Co.; Tom O’Brien of CBRE represented the tenant in the single-building purchase.
ORLANDO, FLA. — Grubb & Ellis | Commercial Florida has arranged the $15.1 million sale of approximately 5.6 acres of land at Downtown Plaza to 400 North Orange LLC. Located at 400 N. Orange Ave., this was the last large parcel in the center of downtown Orlando. The seller, Downtown Plaza LLC, was represented by David Calcanis and Jeffrey Sweeney of Grubb & Ellis | Commercial Florida. The site has been approved for four towers with 907,000 square feet of offices, 76,000 square feet of retail and restaurants, 150 residential condos, 150 hotel rooms, 50 residential/office lofts, and a 2,547 vehicle parking garage.
LAGRANGE, GA. — Batson-Cook, as general contractor, has broken ground on the $8 million expansion of Diverse Power’s LaGrange headquarters. The expansion includes a new 16,000-square-foot utility maintenance facility and garage, a new fuel station and truck wash, and a 26,000-square-foot expansion of the current sheltered truck storage space. Additionally, Diverse Power has acquired 20 acres of land to house the member-owned electric cooperative’s newly formed Georgia Right of Way division. A one-story, 15,000-square-foot truck shed and a small operations office will be built onsite.