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ATHENS, GA. — Caterpillar has selected a site near Athens to build a $200 million, 1 million-square-foot manufacturing facility. The property will be part of Caterpillar's Building Construction Products Division, which is based in Cary, N.C. Once fully operational, the facility will employ 1,400 people. Ground breaking is slated to occur in the first quarter of 2012, with initial production at the facility to begin in late 2013, ramping up to full production during a 5-year period.
BESSOLO TO BUILD $11M NURSING FACILITY
GAINESVILLE, FLA. — St. Petersburg, Fla.-based Bessolo Design Group has been selected by Ohio-based Equity, Inc., to build an $11 million, 180-bed skilled nursing facility, located on Archer Rd. in Gainesville. Bessolo Design Group will provide architectural and engineering services for the 76,000-square-foot property, which will include private, semi-private and memory care suites.
REALTYLINK SELLS STAPLES FOR $3.33M
MEMPHIS, TENN. — Greenville, S.C.-based RealtyLink has sold an 18,000-square-foot Staples, located at 2321 N. Germantown Pkwy. in Memphis, for $3.33 million. RealtyLink was self-represented by Tyson Glasser in the transaction. The buyer was a Texas-based institutional investment company.
BSM ACQUIRES KROGER PLAZA
WINCHESTER, KY. — Nashville, Tenn.-based Baker Storey McDonald Properties (BSM) has purchased the 53,989-square-foot Kroger Plaza, located at 1661 Bypass Rd. in Winchester. Prior to acquiring the center, BSM executed a 20,000-square-foot lease with Burke's Outlet, which is slated to open at the end of March. The property is 90 percent leased to tenants including Cato, The UPS Store, Papa John's, NovaCare and Hallmark. Brentwood, Tenn.-based First Southern Mortgage arranged financing on behalf of BSM through Protective Life Insurance Co.
CROSLAND SOUTHEAST STARTS FINAL PHASE OF BLAKENEY
CHARLOTTE, N.C. — Crosland Southeast has started construction on the 20,000-square-foot Blakeney Square, the final phase of the 600,000-square-foot Blakeney, a multi-use development located in Charlotte. Target and Harris Teeter anchor the original retail component, which is 300,000 square feet, and Best Buy and PetSmart anchor Blakeney Crossing, the second retail phase of the property. BB&T, Chick-fil-A and Firestone have each signed leases for freestanding stores, which are slated to open by the end of the year. Bank of America provided construction financing, Osborne Co. is the general contractor and W.D. Smith is working on grading/earthwork.