WEST COLUMBIA, S.C. — Three Fountains Plaza – Columbia LLC has acquired Three Fountains Plaza, a 41,450-square-foot, 4.2-acre shopping center in West Columbia, from Greensboro, N.C.-based T. Cooper James & Associates, for $3.2 million. The center is anchored by Food Lion and Family Dollar. Victor John of Columbia-based NAI Avant brokered the sales transaction. The property is located at the intersection of Platt Springs and Emmanuel Church roads.
ATLANTA — Wells Real Estate Investment Trust II has acquired a five-building, 1 million-square-foot office campus in Atlanta’s Buckhead district, via a sale-leaseback transaction from AT&T. The Class A property is located in the Lenox Park office park, between Peachtree Road and Interstate 85. AT&T Services and its subsidiaries will occupy all five buildings under 10- to 15-year term leases. The buildings range from four to 12 stories and are located at 1025, 1055, 1057 and 1277 Lenox Park Blvd. and 2180 Lake Blvd. Keith Willby represented the buyer in-house, and the seller was represented by Staubach’s Atlanta office.
CARY, N.C. — Detroit-based MayfieldGentry Realty Advisors has purchased Crossroads Corporate Park, a 133-acre master-planned business community in Cary, from Ohio Public Employees Retirement System, for an undisclosed amount. The property consists of four two-story buildings, totaling 390,542 square feet, which are 97 percent occupied. Tenants include Connexion Technologies, Jacobs Engineering, Texas Instruments and the Wake County Board of Education. The business park has six additional development sites, totaling 20 acres, and is located within Research Triangle Park at the intersection of Interstate 40, I-440 and Highway 1.
DUNWOODY, GA. — Pollack Partners and BHC Property Group are developing Two Blocks Apartment Homes, a $59 million, 400-unit multifamily community in Dunwoody, located near the Perimeter area of suburban Atlanta. The mid-rise development is situated on 10 acres and will feature a pool, courtyards, a clubroom, a media room, a coffee bar/cyber cafe and a billiards room. Construction began last April, and initial occupancy will begin this month. Westplan Investors is the equity partner, and The Worthing Companies will lease and manage the community.
RALEIGH, N.C. — New York-based Polo Run LLC has purchased Polo Run Apartments, a 278-unit apartment complex located at 1822 Generation Dr. in Raleigh, from Springfield, Mass.-based North Carolina Raleigh LLC, for $12 million. The property was formerly known as Frenchwood Pointe Apartments. Jeff Gorodensky of Lodi, N.J.-based Sperry Van Ness/FG Commercial Real Estate represented both the buyer and seller in the sales transaction.
GLEN ARM, MD. — MCF Capital has purchased a 200,000-square-foot, 20-acre warehouse/office property in Glen Arm’s Long Green Valley, from United Container, for $4 million. The building is located in the Long Green Valley at 5200 Glen Arm Rd., north of the Cromwell Bridge Road/Interstate 695 interchange. David Paulson and Vince Brocato of Manekin represented the seller in a direct transaction with MCF Capital. The new owners will renovate and subdivide the property for a multi-tenant occupancy.
BETHESDA, MD. — Bob Donhauser, Bill Asbill and Cary Abod of Holliday Fenoglio Fowler’s (HFF) Washington, D.C. office have secured an $80 million loan for Rockwall I and II, two Class A office buildings totaling 345,885 square feet in Bethesda, on behalf of Chevy Chase, Md.-based The JBG Companies. The fixed-rate, 5-year loan was obtained through HFF’s relationship with ING Real Estate. The properties are currently 89 percent leased, with The Food and Drug Administration occupying 40 percent of the space. The buildings are located at 11400 Rockville Pike and 5515 Security Lane.
DURHAM, N.C. — Phillips Development & Realty has purchased 44 acres in Durham for the future development of Phillips Research Park, a $30 million, 344-unit garden-style community, from two individual sellers, for a total of $3.8 million. Jovan Group sold 42 acres, and Wood Partners sold 2 acres. The three-story, Class A apartment community will feature one-, two- and three-bedroom units, ranging from 778 to 1,188 square feet. Amenities will include a 5,200-square-foot clubroom featuring a library, media room, business center, fitness room and resort-style pool. A land tract of 20 acres will be preserved for jogging and biking. Construction is slated to begin in the fall and complete in first quarter 2010. The property is located at 1561 Ellis Rd., in close proximity to the Research Triangle Park and Highway 147. Tampa, Fla.-based Chancey Design Partnership is the project architect.
SANFORD, N.C. — Asheville, N.C.-based Jala Inc. has acquired an 86-room, 42,000-square-foot Hampton Inn in Sanford, from Inn Keeper Inc., for $7.5 million. The three-story hotel features a meeting room, outdoor pool and fitness center. Anthony Falor of Atlanta-based Hodges Ward Elliott was the sole broker and exclusively represented the seller. After renovations, the property will continue its affiliation with the Hampton Inn brand.
OCEAN CITY, MD. — The Buccini/Pollin Group has opened Rivendell Condominiums, a $60 million, 300,000-square-foot luxury multifamily complex in Ocean City, located on Assawoman Bay between 80th and 81st streets. The community features 88 units, and amenities include an ocean-view courtyard, fitness center and indoor and outdoor pools. Construction began in April 2006 and completed last month.