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Michaelson, Eklund Purchase Apartment Community in Knoxville for $48.1M

KNOXVILLE, TENN. — Michaelson Real Estate Group LLC, in partnership with Eklund Development, has acquired The Metropolitan, a 520-unit multifamily community in the Cedar Bluff neighborhood of Knoxville, for $48.1 million. Constructed in 1986, the property includes one- and two-bedroom floor plans with an average size of 800 square feet. Units feature wood-style flooring, stainless steel appliances, granite countertops and private balconies or patios. Community amenities include a heated..

September 22, 2017

Publix to Anchor New 59,600 SF Shopping Center in Huntsville

HUNTSVILLE, ALA. — Watkins Real Estate Group has signed a 45,600-square-foot lease with Publix Super Markets Inc. to anchor The Pinnacle at Providence, a 59,600-square-foot retail center under development in Huntsville’s Providence neighborhood. The Atlanta-based retail and multifamily development company acquired the 9.2-acre site in 2016 and recently secured construction financing through BB&T Corp. In addition to Publix, the tenant lineup includes Courtney Murray DDS, Allure Nails..

September 22, 2017

JCR Cos. Acquires Retail Center in Northern Virginia for $17.7M

FRONT ROYAL, VA. — Washington, D.C.-based The JCR Cos. has acquired Riverton Commons, a 69,496-square-foot shopping center in Front Royal, for $17.7 million. CBRE represented the seller, EDENS, and First Virginia Community Bank provided acquisition financing. Constructed in 2007, Riverton Commons is home to tenants including Valley Health Systems Urgent Care, Great Clips, Mattress Warehouse, Sweet Frog, Anytime Fitness, Hibbett Sports and Tropical Smoothie Café. The property is part of a..

September 22, 2017

GBT Realty Buys 234,124 SF Shopping Center in Tuscaloosa

TUSCALOOSA, ALA. — GBT Realty Corp. has purchased McFarland Plaza, a 234,124-square-foot shopping center in Tuscaloosa. Jim Hamilton, Richard Reid, Mike Allison and Brad Buchanan of HFF represented the seller, a partnership between DDR Corp. and TH Real Estate. Bill Fishel and Matthew Stewart of HFF secured a three-year, floating-rate loan through Värde Partners on behalf of the new owner. T.J. Maxx, Ross Dress for Less, Michaels and Stein Mart anchor the center. McFarland Plaza Shopping..

September 22, 2017

Axilla Capital Arranges $15.5M Loan for Hotel Near Orlando

KISSIMMEE, FLA. — Axilla Capital LLC has arranged a $15.5 million loan for The Royale Parc Suites Hotel, a 224-room hotel located in Kissimmee, roughly 20 miles south of Orlando. Joel Mazur and Tom Fleming of Axilla Capital represented the undisclosed borrower in the transaction. Proceeds of the loan were used to finance the property’s acquisition and fund the hotel’s impending upgrades. Constructed in 1988, Royale Parc Suites Hotel is currently operating as a Choice Hotels-branded..

September 22, 2017

Ally Financial to Anchor 742,000 SF Mixed-Use Development in Uptown Charlotte

CHARLOTTE, N.C. — Ally Financial has signed on to anchor a 742,000-square-foot mixed-use project in Uptown Charlotte. Crescent Communities will break ground on Ally Charlotte Center at 601 S. Tryon St. in the first quarter of 2018. Ally Financial will lease 400,000 square feet and is expected to move to the new space when the building delivers in 2021. In addition to office space, plans for the 26-story tower include ground-level retail and restaurant space, a parking garage and a hotel. The..

September 21, 2017

FedEx Ground Opens New Distribution Facility at Logistics Center in Metro Baltimore

SPARROWS POINT, MD. — FedEx Ground, the small package delivery unit of FedEx Corp., has opened a new distribution facility at Tradepoint Atlantic, a 3,100-acre global logistics center in Sparrows Point, roughly 15 miles southeast of Baltimore. The 307,000-square-foot facility connects existing FedEx Ground stations located in White Marsh and Halethorpe, and will support approximately 275 full- and part-time jobs, as well as 150 contracted service providers. FedEx occupies 50 acres within the..

September 21, 2017

Buchanan, Elion Purchase Industrial Portfolio in Metro D.C. for $81.2M

GAITHERSBURG, MD. — Buchanan Partners, in a joint venture with Elion Partners, has acquired a 700,000-square-foot industrial portfolio in suburban Washington, D.C. A joint venture between Ares Capital Corp. and Adler Group sold the assets for $81.2 million. The 14-building portfolio is spread across three different office parks along the Route 28 corridor in Northern Virginia: 3680-3863 Centerview Road in Dulles Business Park, 14420-14434 Albemarle Point Place in Westfields North and..

September 21, 2017

TH Real Estate Buys Two Industrial Assets in Broward County for $54M

DAVIE AND TAMARAC, FLA. — TH Real Estate, an affiliate of Nuveen, has acquired two industrial properties in South Florida for $54 million. Principal Global Investors sold the properties, which include Pointe West in Davie and Westpoint in Tamarac. Constructed between 2001 and 2004, the warehouses were 93 percent leased at the time of sale to tenants including Daikin and Kapco Global.

September 21, 2017

Hospitality Properties Trust Purchases 300-Room Hotel in Charlotte for $44M

CHARLOTTE, N.C. — Hospitality Properties Trust has purchased Crowne Plaza Charlotte Executive Park, a 300-room hotel in south Charlotte, for $44 million. Chris Lingerfelt, Cyrus Vazifdar and Brent Bowman of HFF represented the undisclosed seller in the transaction. Constructed in 1983, Crowne Plaza Charlotte Executive Park underwent a renovation in 2014, which included upgrades to guestrooms, public areas and meeting space, as well as the hotel’s restaurant and bar. The hotel features a..

September 21, 2017