PORT ORANGE, FLA. — Prime Equities has purchased Port Orange Gateway Center, a 14,094-square-foot shopping center in Port Orange, from Port Orange Gateway Center, Inc., for $3.8 million. The center is 100 percent occupied, and tenants include Panera Bread, Cingular Wireless and Tropical Smoothie. Kevin Yaryan and Patrick Skinner of Marcus & Millichap’s Orlando, Fla., office represented the buyer and the seller. The property is located at 1781 Dunlawton Ave.
PRINCE WILLIAM COUNTY, VA. — Regency Centers is developing The Shops at Stonewall, a $52 million, 318,000-square-foot retail center in Prince William County, located at the intersection of Lee Highway and Old Carolina Road. The center is situated on 40 acres and will be anchored by a 140,000-square-foot Wegman’s supermarket, slated to open this fall. Other tenants include Staples, Ross Dress For Less, Bed Bath & Beyond and Suntrust Bank. Construction began last May and is projected to complete this summer.
POINCIANA, FLA. — South Florida-based Southeast Shopping Centers Development is building Solivita Marketplace, a 60-acre mixed-use project in Poinciana. The first phase is situated on 6.6 acres and includes five buildings totaling 41,000 square feet. First phase tenants include Revelations 21 Jewelry, Martin’s BBQ of Orlando, Quizno’s Subs, Gigi’s Beauty Salon and Poinciana Dry Cleaners. Walgreens, Wachovia Bank and Fifth/Third Bank occupy freestanding buildings. The project is located at the intersection of Cypress Parkway and Marigold Avenue.
ARLINGTON AND ROSSLYN, VA. —Donohoe Construction worked as the general contractor on two multifamily projects recently completed in the Washington, D.C. area. In Arlington, Houston-based Camden developed Camden Potomac Yard, a $66 million, 396,000-square-foot apartment building. The project is comprised of 378 units and 12 stories, with an additional 190,400-square-foot parking garage. Amenities include a rooftop pool and spa with adjoining party room and theatre, a fitness room, a public conference room and an internet café. Washington, D.C.-based WDG Architecture was the project architect. Construction began in April 2005 and completed this March. In Rosslyn, Rockville, Md.-based Washington Real Estate Investment Trust developed Bennett Park Apartments, a $64 million, two-building complex. The high-rise building is located at 1601 Clarendon Blvd. and features 224,000 square feet, 15 stories, 178 units and an 110,700-square-foot parking garage. The mid-rise building is located at 1600 Wilson Blvd. and features 62,900 square feet, 9 stories, 46 units and a 29,500-square-foot parking garage. Shared amenities include a fitness room, club/community room and a billiards room. Additionally, the mid-rise features 5,000 square feet of ground-floor retail. Bethesda, Md.-based Architects Collaborative was the project architect. Construction began in August 2004 and completed this March.
NEW ORLEANS — Bill Matone of NorthMarq Capital’s Charlotte, N.C., office has negotiated a $13 million loan for the 400-unit Wind Run Apartments in New Orleans. Financing was based on a 10-year term with a 30-year amortization schedule. NorthMarq arranged the financing through its relationship with Freddie Mac.
NORCROSS, GA. — Micromeritics Instrument Corp. has acquired a 137,717-square-foot industrial facility in Norcross, from CT Communications, operated by BH Properties, for $4.3 million. The seller was represented by Nathan Anderson and Darren Butler of NAI Brannen Goddard, and the buyer was represented by Rick Lackey of City Commercial. The property is located at 4356 Communications Drive in Gwinnett Park.
COLUMBIA, MD. — Columbia-based Corporate Offices Properties Trust has closed on a $225 million construction loan facility that will be utilized to fund the majority of its construction costs during the next several years. The facility has a 3-year term with a 1-year extension option and requires interest only payments throughout the term. Also, an accordion feature allows for a potential increase up to $325 million at a future date. The three lead banks in the transaction were KeyBank National Association, Bank of America, N.A. and Manufacturers and Traders Trust Company.
COLUMBIA, S.C. — Sarasota, Fla.-based American Hotel Development Partners and joint venture partner New York-based Glenmont Capital Management will open the 112-room Candlewood Suites Columbia/Ft. Jackson this month in Columbia. The extended-stay hotel is located near the Interstate 77 and Garners Ferry Road interchange. Amenities include a fitness center and suites featuring fully equipped kitchens and executive desks with two separate phone lines and high-speed internet access.
HENDERSONVILLE, TENN. — Harpoon of Hendersonville TN LLC has acquired 21 acres for the future development of Indian Lake Marketplace in Hendersonville, from Indian Lake Investors, for $8 million. The site is currently occupied by Cracker Barrel Old Country Store and Verizon Wireless. Harpoon will develop a 100,000-square-foot retail center on the property, inclusive of two outparcels. Zac Cypress and Charlotte Ford of NAI Nashville represented the buyer, and Terry Smith and Jason Powell, also of NAI Nashville, represented the seller.
RICHMOND, VA. — Charles J. Keck has purchased an 89,090-square-foot office/warehouse facility in Richmond, from ETB Enterprises. The property is situated on 3 acres and is located at 1125 Commerce Road. Richard Porter of Porter Realty Company/CORFAC International represented the seller.