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Southeast

Core5 Acquires 173 Acres to Develop 2.5 MSF Industrial Business Park in DeSoto County, Mississippi

DESOTO COUNTY, MISS. — Atlanta-based Core5 Industrial Partners has acquired a 173-acre land site to develop DeSoto 55 Logistics Center, a 2.5 million-square-foot business and logistics park in DeSoto County. Anticipated development costs will exceed $125 million, according to a news release from the developer. Core5 will immediately begin construction on two speculative buildings of office and warehouse space totaling 883,720 square feet. Both buildings are planned for delivery this..

March 24, 2017

Duke Realty to Develop 420-Car Parking Deck in North Atlanta

SANDY SPRINGS, GA. — Duke Realty has announced plans to develop a five-level, 420-car parking deck in the northern Atlanta market of Sandy Springs. The structure will service Northside Hospital’s Center Pointe I and II, two medical offices totaling 363,174 square feet located at 1100 Johnson Ferry Road. Duke Realty will break ground on the project, which is designed to accommodate the construction of two additional parking levels in the future, in June. Delivery is slated for December.

March 23, 2017

Tiktin Brokers $5.1M Sale of Grocery-Anchored Retail Center in Cocoa, Fla.

COCOA, FLA. — Tiktin Real Estate Investment Services (TREIS) has brokered the $5.1 million sale of Clearlake Square, an 85,522-square-foot shopping center in Cocoa, a city roughly 45 miles east of Orlando. Situated on 7.5 acres at 1066 Clearlake Road, the Winn Dixie-anchored property is also home to tenants such as Family Dollar, Metro PCS and Jackson Hewitt. Adam Tiktin and Cliff Weisner of TREIS represented the sellers, Cocoa Commercial Properties LLC and Top of the Ridge LLC, as well as..

March 23, 2017

Walker & Dunlop Structures $13.5M Acquisition Loan for Apartment Complex in Jacksonville

JACKSONVILLE, FLA. — Walker & Dunlop, a Maryland-based real estate finance firm, has structured a $13.5 million loan for the acquisition of Alexander Pointe, a Class B, garden-style apartment complex located at 2121 Burwick Ave. in the Jacksonville suburb of Orange Park. Andrew Tapley and Alexandra Huffman of Walker & Dunlop sourced the 10-year, fixed-rate, Fannie Mae loan on behalf of Capital Square Holdings LLC, a Virginia-based investment and management firm.

March 23, 2017

HFF Arranges Sale, Financing for Two Class A Office Buildings in Durham, N.C.

DURHAM, N.C. — HFF has completed the sale of and secured acquisition financing for Keystone 200 and 300, two Class A office buildings totaling 223,475 square feet within Keystone Office Park in Durham. Scot Humphrey, Ryan Clutter and Chris Lingerfelt of HFF represented the seller, American Real Estate Partners, and procured the buyer, Innovatus Capital Partners. HFF’s Brent Bowman arranged the financing for the two properties, which are located at 530 and 430 Davis Drive, close to..

March 23, 2017

Boulder Group Negotiates $1.2M Sale of Dollar General in Grand Cane, La.

GRAND CANE, LA. — The Boulder Group has completed the sale of a 9,014-square-foot Dollar General located at 8212 Highway 171 in Grand Cane, a town about 35 miles south of Shreveport. Jimmy Goodman and Randy Blankstein of The Boulder Group represented the seller, a Louisiana-based developer, in the transaction. The buyer, a Southwest-based private partnership, purchased the triple net leased property for approximately $1.2 million.

March 23, 2017

Winter Construction Breaks Ground on $70M Marriott Hotel in Midtown Atlanta

ATLANTA — Winter Construction has broken ground on a 266,000-square-foot hotel by Marriott, located on 14th Street near the intersection of Peachtree Street in Atlanta’s Midtown neighborhood. The hotel will be dual branded as AC Hotel, which will comprise 133 rooms, and Moxy Hotel, which will offer 155 rooms. The hotels will share several levels of parking and a rooftop pool and bar. Cooper Carry Inc. designed the $70 million project; Noble Investment Group is the developer.

March 22, 2017

Beasley Negotiates $14.9M Sale of 775,864 SF Industrial Park in Greater Orlando

WINTER HAVEN, FLA. — Beasley Real Estate Services has completed the sale of Central Florida Business Park, a 775,864-square-foot industrial property located at 5300 Recker Highway in the Orlando suburb of Winter Haven. Situated on 52 acres, the property spans nine buildings ranging in size from 2,400 square feet to 297,000 square feet. Fred Beasley of Beasley Real Estate represented the seller, Legacy Capital Partners, a private equity investor based in Boulder, Colo., in the transaction...

March 22, 2017

Eastern Equity Arranges $12M in Acquisition Equity for 320-Unit Community in Metro D.C.

GREENBELT, MD. — Eastern Equity Advisors has arranged $12 million in equity on behalf of Blue Ocean Realty, a Maryland-based management company, for the acquisition of The Hanover Apartments, with securities offered through Palladium Capital Advisors. Located at 7232 Hanover Parkway in Greenbelt, Md., a northeastern suburb of Washington, D.C., the garden-style property has 320 units. Marc Belsky of Eastern Equity arranged the equity. Meridian Capital sourced an undisclosed amount of..

March 22, 2017

Berkadia Closes $10.75M Sale of 181-Unit Multifamily Property in Huntsville

HUNTSVILLE, ALA. — Berkadia, an investment sales and advisory firm, has finalized the sale of Belmont Hill Apartments, a 181-unit apartment complex located at 240 Martin Road in Huntsville. David Wilson of Berkadia represented the seller, Boston-based Stratford Management Co., in the transaction. HKSK, a Brooklyn-based corporation, purchased the property, which was 82 percent occupied at the time of sale.

March 22, 2017