FORT MYERS, FLA. — Intercontinental Hotels Group has opened the Candlewood Suites Fort Myers I-75, a $5 million, 46,000-square-foot property located 5 miles from Southwest Florida International Airport. The hotel contains 80 suites and is owned and operated by S&L Hospitality. Amenities include a 24-hour fitness center, high-speed Internet access and a guest cookout area.
Southeast
GREENVILLE AND ROCK HILL, S.C. — Charlotte, N.C.-based Carolina Holdco has purchased two apartment communities, Grandeagle and Stones Crossing, in Greenville and Rock Hill, for a total of $10.5 million. Atlanta-based Churchill East sold Grandeagle Apartments in Greenville to Carolina Holdco, for $3.8 million. The multifamily community features 152 garden-style multifamily units. Carolina Holdco acquired Stones Crossing in Rock Hill, a 160-unit, 14-acre garden-style complex, from Stones Crossing LP, an affiliate of Nashville, Tenn.-based Carter-Haston Real Estate, for $6.7 million. Jordan McCarley of Southeast Apartment Partners’ Charlotte office was the sole broker in both transactions.
BRANDON, FLA. — Charlotte, N.C.-based Crescent Resources is developing Crosstown Center, a 260-acre mixed-use development in Brandon, located along Lee Roy Selmon Expressway and Falkenburg Road. Construction of 300 multifamily homes will start this summer, with delivery of the first units in January 2009. The apartments will feature one-, two- and three-bedroom units, ranging from 782 to 1,563 square feet. Candlewood Hotels has acquired a 2.5-acre site in the development for a 100-room hotel, and Lifelink will build a 60,000-square-foot facility. Construction for both projects is slated to begin this year. The development will also include Crosstown Center One, a three-story, LEED-certified Class A office building.
GOOSE CREEK, S.C. — Charlotte, N.C.-based Lincoln Harris, an affiliate of Lincoln Property Company, has acquired 16 acres in Goose Creek, from Charleston, S.C.-based The Daniel Island Company, for Phase 1 of The Market at Carnes Crossroads. The initial $25 million, 150,000-square-foot phase will feature a 48,756-square-foot Harris Teeter grocery store, 60,000 square feet of specialty shops and restaurants, 25,000 square feet of office space and multiple outparcel tenants. The retail-oriented center will be built within Carnes Crossroads, a 2,400-acre master-planned residential community developed by The Daniel Island Company. Erin England of Colliers Keenan’s Charleston office represented the buyer in the land transaction, and the seller was represented by Eric Meyer of Charleston-based Meyer Kapp.
FAYETTEVILLE, ARK. — Intercontinental Hotels Group has opened The Staybridge Suites Fayetteville, a $10 million, 77,273-square-foot hotel, located at 1577 West 15th St. The hotel features 109 suites, meeting space, fitness center and an indoor pool. Construction began on the four-story hotel in September 2006.
WEST PALM BEACH, FLA. — Suffolk Construction has acquired a two-story, 45,000-square-foot office building in West Palm Beach, from One Harvard Circle LLC, for $9 million. Suffolk will utilize the building as its headquarters after a $2.5 million renovation, including LEED certification. The property is located at 1 Harvard Circle, near the intersection of Village Boulevard and Palm Beach Lakes Boulevard. Neil Merin of West Palm Beach-based NAI/Merin Hunter Codman represented the buyer, and the seller was represented by Thomas Gibson of West Palm Beach-based Asset Specialists.
JACKSONVILLE, FLA. — Milwaukee, Wis.-based Northwestern Mutual has completed the $8.5 million renovation of Villas of St. John, a 257-unit, four-story apartment complex in Jacksonville. The property is located on the St. John’s River, at the intersection of Riverside Avenue and Margaret Street. Orlando, Fla.-based Leffler & Heaney was the general contractor.
SARASOTA, FLA. — Sarasota-based Lions Gate Development and Hilton Hotels Corporation are developing a 225-room, 18-story Waldorf-Astoria Hotel to be built in The Proscenium, a 130,000-square-foot mixed-use development in Sarasota. The property will feature 38,000 square feet of ballroom, meeting and exhibition space; signature restaurants; a rooftop pool; a 12,000-square-foot spa; and 67 residences. A bridge will connect the hotel’s VIP lounge and the 800-seat Nederlander performing arts hall. Construction is slated to begin in fourth quarter 2008 and be completed year-end 2010. An affiliate of Hilton Hotels will manage the hotel. The Proscenium development will include retail, restaurants and a 500-seat theatre; 300,000 square feet of Class A office space; 96 residences within the 18-story office tower; and 50 loft residences.
JACKSON COUNTY, GA. — IDI is developing Jefferson Distribution Center, a $120 million, 2.8 million-square-foot master-planned business park in Jackson County. The project will be comprised of five buildings, situated on 225 acres at the intersection of Interstate 85 and Highway 82. The first speculative building, an inventory facility of 1 million square feet, is projected to begin construction in third quarter 2008 and will be available for occupancy in second quarter 2009. The facility will feature build-to-suit and inventory space options ranging from 30,000 square feet to 1.1 million square feet.
NEWPORT NEWS, VA. — Chicago-based Inland Western Retail has acquired Jefferson Commons, a 306,249-square-foot shopping center in Newport News, from an affiliate of West Palm Beach, Fla.-based The Goodman Company, for $79.6 million. The center is located at the intersection of Jefferson Avenue and Bland Boulevard. Tenants include Ross Dress For Less, T.J. Maxx, Off Broadway Shoe Warehouse, Trader Joe’s, Petco and Starbucks. The property is also anchored by a Kohl’s, which was not included in the sale. Casey Rosen and Dennis Carson of CB Richard Ellis’ Miami office and Debra Ramey of The Shopping Center Group’s Norfolk, Va., office represented the seller.