SHREVEPORT, LA. — New York-based Platinum Management has acquired a multifamily portfolio, consisting of four complexes in Shreveport, from Chicago-based First Bank of Illinois, for $9.5 million. The properties are Villa Norte, a 13-building, 200-unit property, located at 1620 Fullerton St.; The Pines, a 20-building, 128-unit property, located 8040 Line Ave.; Kings Manor I, a 20-building, 184-unit property, located at 7210 Bernstein Ave.; and Kings Manor II, an 8-building, 64-unit property, located at 1674 David Raines Rd. Kings Manor I features one- and two-bedroom units, and the remaining properties feature a one-, two- and three-bedroom unit mix. David Bilfeld of Chicago-based Colliers Bennett & Kahnweiler represented the seller in the transaction.
ELLICOTT CITY, MD. — Philadelphia-based Grosvenor Investment Management and Bethesda, Md.-based Rockledge Realty Partners have acquired a three-story, 40,000-square-foot medical office building in Ellicott City, from North Ridge Business Trust, for an undisclosed amount. The joint venture will reposition the property through a medical office condominium conversion and upgrade the lobby, common areas, landscaping and elevators. The building houses a 13,180-square-foot surgery center with four operating rooms, operated by Ambulatory Surgical Centers. The property is located at 2850 North Ridge Rd., near Howard County General and St. Agnes hospitals.
ORLANDO, FLA. — TIAA-CREF’s Charlotte, N.C., office will build a 7,500-square-foot Sweet Tomatoes Restaurant in the Crossroads Shopping Center at Lake Buena Vista, located along S. Apopka-Vineland Road, in Orlando. The restaurant is projected for completion in fourth quarter 2008. Nick Boehme of CB Richard Ellis’ Orlando office will serve as the owner’s representative and oversee site modifications and construction. Dave Kreinest of CB Richard Ellis’ Jacksonville, Fla., office and Brit Christian of the Orlando office also negotiated the project management deal.
SANDY SPRINGS, GA. — Centerville, Ohio-based The Connor Group has acquired The Stratford, a 269-unit multifamily complex in Sandy Springs, from Dallas-based Invesco Real Estate for $28.5 million. The property is located directly off Glenridge Rd., and features one- and two-bedroom units with high-end amenities including a pool, fitness center and business center. The property was approximately 90 percent occupied at the time of sale. Derrick Bloom, John Weber and Sean Henry of Apartment Realty Advisors represented the seller.
OCALA, FLA. — The Marion County Board of Commissioners is building a $38 million, 150,000-square-foot addition that will connect on all five stories to the existing Marion County Judicial Center in downtown Ocala. The new structure will house the State Attorney’s Office and new courts and related services. The property is located at 110 N.W. 1st Ave. Construction is slated for completion in late 2009. Moss & Associates is the general contractor, and Ocala-based Architecture Studio and HOK, a global architecture firm, are designing the project.
RICHMOND, VA. — 2820 WL Group, has acquired Waterford I, a 47,000-square-foot, Class A office building in Richmond, from Continental Waterford, for $7 million. The property is located at 2820 Waterford Lake Dr., and was 100 percent occupied at the time of sale. Eric Robison and Dean Meyer of Virginia-based Thalhimer, a member of the Cushman & Wakefield Alliance, represented the seller. The buyer was represented by Jack Creighton of Boston-based SourceNet Financial.
UNION CITY, GA. — Harman International has signed a long-term lease with Majestic Realty for 305,000 square feet of space at Majestic Airport Center II, a master-planned industrial park in Union City, located at 4475 S. Fulton Pkwy. Harman manufactures audio, video and electronic products for home, vehicle, portable and computer applications. The property, which is fully leased, is also occupied by American Building Supply. Bayne Porter of CB Richard Ellis negotiated the lease on behalf of the tenant.
ARLINGTON, VA. — The United States Patent and Trademark Office has signed a 10-year lease for a 168,468-square-foot office space at Randolph Square in Arlington from Transwestern Monument Randolph Square LLC, a joint venture of Washington, D.C.-based Monument Realty and Chicago-based Transwestern Investment Co. Randolph Square, a 9-story, 208,000-square-foot office complex, is located at 2800 S. Randolph St. and expected to deliver in April. Matt Bundy and Joshua Masi of Transwestern and Doug Olson and Bethany Allen of Monument Realty represented the landlord. Todd Valentine of Studley’s represented the tenant.
CONYERS, GA. — Block Income Fund III has purchased a 111,540-square-foot office/warehouse building, located at 801 Blacklawn Rd. in Conyers, from First Industrial Partnership, for $5 million. Current tenants include Bio-Lab, CTGA, Diversitech and Teijan Twaron USA. The building consists of 18 percent office space and one dock-high door per each 4,840 square feet. Bobby Mayson of Atlanta-based Lavista Associates represented the seller.
MIAMI — Scott Leeds has acquired an 8,000-square-foot office building, located at 2541 S.W. 27th Ave. in Miami, from Miami-based Physicians Investment Group, for $2.6 million. The property is situated on 22,000 square feet between Coral Way and Highway 1. Stephen and Eric Gaunt of CresaPartners’ Miami office represented the buyer. The seller was represented by Alexandra Tovar of Miami-based Fortune Realty.