JOINT VENTURE PURCHASES
THE AVENUE WEBB GIN 
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SNELLVILLE, GA. -- A joint venture between Bayer Properties LLC and institutional investors advised by JP Morgan Asset Management has acquired The Avenue Webb Gin from Cousins Properties Inc. The Avenue Webb Gin is a 351,007-square-foot, outdoor center in Snellville, a northeastern suburb of Atlanta. The project, which opened in 2006, includes restaurants, retail and office space. Tenants include Barnes & Noble, White House/Black Market, Chico's, Francesca's Collections, DSW Shoes, Ted's Montana Grill and Romano's Macaroni Grill. Pizzeria Venti has recently signed a lease and will open soon at The Avenue Webb Gin. This marks Bayer Properties' first asset in Georgia. Eastdil Secured represented the seller in the transaction.
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ALABAMA MULTIFAMILY COMPLEX SELLS FOR $26.5M
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MONTGOMERY, ALA. -- The 272-unit Watermark at EastChase, an apartment community in Montgomery, has traded for $26.5 million. The multifamily property totals 282,636 square feet and includes one-, two- and three-bedroom apartments. A Terre Haute, Ind.-based limited liability company sold the property to Montgomery-based Broadstreet at EastChase Apartments LLC. David Oakley, Tim McKay and Aaron Hargrove of Hendricks & Partners represented the seller.
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BAYSIDE BRIDGE PLAZA
TRADES FOR $17.25M
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CLEARWATER, FLA. -- The 172,596-square-foot Bayside Bridge Plaza, a grocery-anchored shopping center located at the intersection of McMullen Booth and Coachman roads in Clearwater, has sold for $17.25 million. An affiliate of the Isram Group of Cos. based in Hallandale, Fla. acquired the property from an affiliate of Montreal, Canada-based Dalfen America Corp. Bayside Bridge Plaza was built in 1989 and renovated in 2004 and 2010. A 42,112-square-foot Publix anchors the property, which is 91 percent leased. Other tenants include Family Fitness, Gatti Town Restaurant, Dollar Tree, Pet Supplies Plus and Ace Hardware. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE represented the seller in the transaction.
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SIX-BUILDING INDUSTRIAL PORTFOLIO TRADES FOR $9M
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MIAMI -- A six-building industrial portfolio built between 1972 and 1984 has traded for $9 million. CBRE, on behalf of the seller Sarahs Canal Co. LLC, arranged the portfolio sale to Maksanium LLC, an entity controlled by Sunrise, Fla.-based Genet Property Group. The buildings are located in the Cutler Bay area of Miami just north of the South Dixie Highway and Florida Turnpike intersection. The portfolio has 138 units and measures a total of approximately 220,000 square feet total. Tenants comprise a mixture of small, entrepreneurial businesses.
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BULL REALTY BROKERS $7.9M SALE OF DOWNTOWN ATLANTA SITE
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ATLANTA -- An affiliate of Valdosta, Ga.-based Ambling University Development Group (AUDG) has purchased an approximately 1.4-acre site near Georgia State University for $7.9 million. The site is located at 70 John Wesley Dobbs Ave. in downtown Atlanta. The former Ramada Hotel, rental car facility and parking garage on the property will be redeveloped in two phases. Phase I will include a 138-unit, 291-bed student housing facility that will open in summer 2013. A new tower featuring approximately 108 student housing units and 424 beds will open in summer 2014. Phase II will also include a new parking garage. John DeYonker of Bull Realty represented the seller in the transaction.
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CALKAIN BROKERS $6.5M SALE OF BB&T AND WELLS FARGO PARCELS
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FRONT ROYAL, VA. -- Calkain Cos. has brokered the sale of two bank pad sites that are ground leased to BB&T and Wells Fargo for $6.5 million. The properties are located within Crooked Run Shopping Center, which is anchored by Target, in Front Royal. Rick Fernandez and Betty Friant of Calkain Cos. represented the seller and buyer.
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RCG VENTURES COMPLETES
TOYS "R" US IN RALEIGH 
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RALEIGH, N.C. -- Atlanta-based RCG Ventures has completed a Toys "R" Us and Babies "R" Us combination store in the Poyner Place Shopping Center, which is adjacent to Triangle Town Center Mall in Raleigh. The project featured ground-up construction of the 59,101-square-foot build-to-suit Toys "R" Us and Babies "R" Us store under one roof. Catamount Construtors worked in conjunction with RCG Ventures.
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$18M CASA MIRELLA APARTMENTS COMPLEX BREAKS GROUND
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OCOEE, FLA. -- Unicorp National Developments Inc. has broken ground on the $18 million Casa Mirella Apartments, a 216-unit multifamily property located at Maguire and Roberson roads in Ocoee. The apartment complex is slated for completion in December 2013. Amenities will include seven garage buildings, a clubhouse and swimming pool. Altamonte Springs, Fla.-based Roger B. Kennedy Inc. is the construction manager. Slocum Platts Architects P.A., Winter Park is the project architect.
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SKANSKA COMPLETES
$15M CLASSROOM FACILITY
AT A TECHNICAL COLLEGE 
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GRIFFIN, GA. -- Skanska USA has completed a new $15 million, 80,000-square-foot medical technology building at Southern Crescent Technical College in Griffin. The three-story building houses programs in orthopedic technology, pharmacy technology, practical nursing, radiologic technology, respiratory care technology, surgical technology, and paramedicine. The building is also used for classes for emergency medical technicians. There are also office suites for faculty and staff as well as an executive office for the academic dean. Classes are expected to begin in the new medical technology building in spring 2013.
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EDGECOMBE PARK SHOPPING CENTER TO UNDERGO REDEVELOPMENT
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ROCKY MOUNT, N.C. -- Crayton Commercial will redevelop the 76,400-square-foot Edgecombe Park Shopping Center in Rocky Mount. A 54,000-square-foot Roses Supercenter, which combines a traditional Roses Discount Store with a full-line grocery store, will anchor the retail property. The space will also include a national dollar store retailer and soft goods tenant. Redevelopment will include demolition and reconstruction of the building's fa�ade and new roof systems, HVAC, ceilings, lighting and electrical work on the interior. Edgecombe Park is scheduled for completion in summer 2013.
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SOUTH FLORIDA SPEC INDUSTRIAL DEVELOPMENT SECURES $9.3M LOAN
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MEDLEY, FLA. -- HFF has secured a $9.3 million construction loan for a 185,520-square-foot spec industrial development on an 8.8-acre site in Medley. The site has direct rail access on site through the Florida East Coast Railway and is close to the Florida Turnpike, Okeechobee Road, the Palmetto Expressway and Route 27. Eric Tupler, Jim Dockerty and Josh Simpson of HFF placed a three-year construction loan with a national bank on behalf of Denver-based Industrial Income Trust.
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CREW ATLANTA
Overview: Leading with Heart and Smarts: A conversation with Linda Klein, Managing Partner, Baker Donalson
When: December 6, 11:30 am
Where: The Blackburn Conference Center, Atlanta
Click here for more information
Have an event that you would like to share with our readers? Send an e-mail with the details to southeast@francemediainc.com.
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