SANDY SPRINGS, GA. — Mercedes-Benz USA (MBUSA) celebrated the grand opening of its new headquarters in Sandy Springs on Thursday. The 200,000-square-foot office building is located on a 12-acre campus near Ga. 400 in Atlanta’s Central Perimeter office submarket, roughly 14 miles north of downtown Atlanta. This move was years in the making, as MBUSA announced in January 2015 that it was moving its headquarters from Montvale, N.J., to Atlanta. Since that time the German automaker also won..
BRADENTON, FLA. — HFF has arranged the $110.5 million sale of Carlton Arms of Bradenton, a 900-unit apartment community located at 5200 Riverfront Drive in the Tampa Bay community of Bradenton. The property is located on a peninsula overlooking the Braden and Manatee rivers. Matt Mitchell and Zach Nolan of HFF arranged the transaction on behalf of the seller, a joint venture between The Mahaffey Apartment Co. and Brighthouse Life Insurance Co. MetLife Investment Management advised..
LAKELAND, FLA. — Cushman & Wakefield has brokered the $59.6 million sale of CenterState Logistics Center, a 605,412-square-foot distribution facility located at 8060 State Road 33 in Lakeland, roughly halfway between Tampa and Orlando. The facility was completed in 2017, and is fully triple-net-leased to Quaker Sales & Distribution, a wholly owned subsidiary of PepsiCo. The company uses the building to distribute its sports drink, Gatorade. Mike Davis, Rick Brugge and Michael Lerner..
RIDGELAND, MISS. — Southern California-based Pacific Retail Capital Partners (PRCP) has broken ground on the redevelopment of Northpark, a 958,000-square-foot enclosed mall in Ridgeland, about 11 miles north of Jackson. Plans for the first phase of the project include new public entrances, corridors, amenities, public restrooms and common-area gathering spaces. The renovation will include new interior and exterior landscaping and a complete resurfacing of the parking lot, public art from..
ORLANDO, FLA. — CBRE has arranged the sale of Art Avenue, a 300-unit apartment community located at 10201 Lee Vista Blvd. in Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the undisclosed seller. Robbins Property Associates and LEM acquired the asset for an undisclosed price. Constructed in 2014, Art Avenue features a resort-style saltwater pool, fitness center, spin room, outdoor lounge with a fire pit area and an outdoor kitchen...
ST. PETERSBURG, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $37.5 million sale of Emerald Pointe, a 441-unit multifamily community in the Tampa Bay metro of St. Petersburg. Frank Carriera and Michael Regan of IPA arranged the transaction on behalf of the undisclosed seller and buyer. Constructed in 1974, Emerald Pointe includes studio to three-bedroom units and features a fitness center, pool, pet play area, car wash area, a clubhouse..
ATLANTA — Birmingham, Ala.-based GCP has acquired 6047 and 6049 Fulton Industrial in Atlanta for $17.1 million. The adjacent, rail-served buildings total 411,056 square feet and serve as light manufacturing and distribution warehouses. At the time of sale, the buildings were leased to two national third-party logistics tenants and a furniture distributor. The acquisition increases GCP’s portfolio to more than 7.5 million square feet. The name of the seller was not disclosed.
KNOXVILLE, TENN. — Coastal Ridge Real Estate has acquired Crowne at Campus Pointe, a 718-bed student housing community located less than a mile from the University of Tennessee in Knoxville. The sales price was not disclosed. Ryan Lang and Bo Flurry of ARA Newmark arranged the transaction on behalf of the undisclosed seller. Constructed in 2005, Crowne at Campus Pointe offers one- to three-bedroom units with monthly rents ranging from $870 to $1,935 per unit. Community amenities include a..
MCLEAN, VA. — Hampton by Hilton has opened three new Hampton Inn hotels in the Southeast: Hampton Inn & Suites by Hilton Glenarden/Washington, D.C.; Hampton Inn by Hilton Forsyth in metro Atlanta; and Hampton Inn & Suites by Hilton Tallahassee Capitol-University. Each of the hotels feature complimentary breakfast, free Wi-Fi, a fitness center, business center, pool and laundry facilities. In addition to the new locations in the Southeast, McLean-based Hampton by Hilton recently..
MARIETTA, GA. — Avison Young has arranged a 50,900-square-foot lease for First Data Corp., a leader in commerce-enabling technology and solutions, at 1600 Terrell Mill Road in Marietta. The office building is located less than three miles from the Atlanta Braves’ new home at SunTrust Park and 15 miles north of downtown Atlanta. Jillian Bailey, Rick Nash and Ben Parker of Avison Young arranged the lease on behalf of the landlord, Zamir Equities. The eight-year lease brings the building to..