OPELIKA, ALA. — Courtyard by Marriott, Fairfield Inn, Kohl’s and Bed Bath & Beyond will open locations at TigerTown, a 130-acre, 1-million-square-foot lifestyle center in Opelika, located at the intersection of Interstate 85 and Highway 280. Nashville, Tenn.-based CNTigertown Hotel Partners is developing a 74-room Fairfield Inn and an 84-room Courtyard by Marriott. The Fairfield Inn began construction last December and will open in September. Amenities will include two swimming pools. The Courtyard by Marriott property will begin construction this spring and complete next fall. Amenities will include an indoor pool, an exercise room, meeting rooms and a business library. Also, Kohl’s is building a 68,500-square-foot location, and Bed Bath & Beyond is building a 23,000-square-foot location. Both stores will commence construction this month and open by year-end.
LAKELAND, LEESBURG AND MIAMI, FLA. — Michael Mele of Marcus & Millichap’s Tampa, Fla., office and Chico LeClaire of its Denver office have facilitated the sale of three storage facilities located in Lakeland, Leesburg and Miami, on behalf of the seller, Cleveland-based U-Store-It, and two individual buyers. A South Florida-based private partnership acquired the 60,040-square-foot, 4-acre Leesburg location for $2.4 million and the 57,240-square-foot, 2.5-acre Miami location for $2.2 million. A Florida-based private investor acquired the 47,880-square-foot, 3-acre Lakeland facility for $2 million. The properties are part of a 21-property portfolio located in five states and are the first to close in Florida.
PORT CHARLOTTE, FLA. — The Charlotte County School District has opened Peace River Elementary School, a $23 million, 112,000-square-foot property in Port Charlotte. The two-story school includes 47 classrooms and labs, a media center, a multi-purpose/dining area, a separate physical education building and two fenced-in playgrounds. The facility will replace the previous school building, which was destroyed in Hurricane Charley. Construction began in September 2006 and completed this spring. The general contractor was Owen-Ames-Kimball Co., and the project architect was Reynolds, Smith & Hills.
BOYNTON BEACH, FLA. — Woolbright Development is building Valencia Square, a 155,000-square-foot shopping center in Boynton Beach, located at the northwest corner of Jog and Woolbright roads. The Mediterranean-style center began construction in April and is expected to deliver late this year. Tenants include Publix, DryClean USA, David & Co., Bagelsteins, Wachovia Bank and Fifth Third Bank. Boca Raton, Fla.-based Marc Wiener is the project architect, and the general contractor is Orlando, Fla.-based Keene Construction.
WINTER HAVEN, FLA. — A private party has purchased Winter Haven Citi Centre, a 16-acre, 185,705-square-foot retail center in Winter Haven, from a publicly traded institution, for $20 million. The center is located at 231 Citi Centre St., near Highway 17. Tenants include Macy’s, Belk, Staples, Crisper’s, Eye Doctor Optical, GNC, H &R Block and Pier 1 Imports. The property was 100 percent occupied at the time of sale. Lori Schneider of Marcus & Millichap’s Fort Lauderdale, Fla., office represented both the buyer and seller.
HOOVER, ALA. — Birmingham, Ala.-based Dominion Partners, in a joint venture with St. Vincent’s Health Systems, has broken ground on Somerby at St. Vincent’s One Nineteen, a 208-unit, 9-acre retirement community in Hoover, located on the campus of the hospital system’s One Nineteen Health and Wellness Center. The project will be comprised of 136 independent living apartments, 48 assisted living residences and 24 memory care residences. Additional amenities include a restaurant, a casual dining café, a meeting and conference center, a library, a chapel, a movie theater, a game room, a beauty salon and a barbershop.
GOLDSBORO, N.C. — Concord, N.H.-based EWT, LLC has acquired McArthur Apartments, an 11-acre, 110-unit multifamily community, from McArthur, for $4 million. The property is located at 204 Benton St., adjacent to the Seymour Johnson Air Force Base, and was 95 percent occupied at the time of sale. Jim Scofield of Sperry Van Ness’ Raleigh, N.C., office represented both the buyer and the seller.
WASHINGTON, D.C. — Connecticut & K Associates is developing a 370,545-square-foot, Class A office building located at 1000 Connecticut Ave. in Washington D.C. The project will be LEED Gold-certified and was designed by Pei Cobb Freed & Partners. Building amenities include a rooftop deck and a state-of-the-art fitness center. Lead tenant, Arent Fox will occupy 255,000 square feet. David Lipson, Tom Fulcher, Art Greenberg and Adam Schindler of Studley’s Washington, D.C. office represented Arent Fox in the lease negotiations, and Audrey Cramer and Louis Christopher of Cushman & Wakefield represented the landlord. Construction is slated for completion in 2012.
MIAMI BEACH, FLA. — Soho House is developing Soho Beach House Miami, a $32 million, 83,000-square-foot hotel/condo complex. The project will consist of renovating the seven-story art deco-style Sovereign Hotel and building a 16-story addition for the residential component. At completion the project will have 44 hotel rooms and 23 residential units. Features of the property will include a spa, a swimming pool, a restaurant, two outdoor bars, a wine room and private rooftop sunbathing decks. The project is slated to complete in 2009. Ft. Lauderdale, Fla.-based Moss & Associates is the general contractor.
WASHINGTON, D.C. — Corus Bank has provided a $72 million loan for the construction of a nine-story, 273,917-square-foot office building in Washington, D.C., to MR BP Office #1, LLC. The building is the first phase of the Half Street project, which is being developed by Monument Realty and its investment partners, MacFarlane and Lehman Brothers. Additionally, Lehman Brothers simultaneously closed a $12 million mezzanine loan for the project. The property is located at 55 M Street.