Property Type

Georgia Tech to Break Ground on $117M Residence Hall Development in Atlanta

by John Nelson February 27, 2023

ATLANTA — The University System of Georgia’s Board of Regents has approved a $117 million residence hall development on the Georgia Tech campus in Midtown Atlanta. The 191,000-square-foot community will offer 850 beds alongside collaborative learning spaces, community lounges and group kitchens. The project is being built to accommodate first-year student enrollment growth over the next 10 years, and to help relocate students during planned renovations to the university’s existing housing. The residence hall will be Georgia Tech’s first new construction since 2005 when 10th and Home opened according to Kasey Helton of Georgia Tech’s Campus Services division. Completion on the project is scheduled for fall 2026.

February 27, 2023

Arkansas Build-to-Rent Development Multifamily Retail Single-Family Rental Southeast

ITEX, Time Warp to Develop Cinema-Themed BTR Project in Fayetteville, Arkansas

by John Nelson February 27, 2023

FAYETTEVILLE, ARK. — The ITEX Group and Time Warp Enterprises have released plans for The Aronson, a build-to-rent (BTR) project in Fayetteville that will be anchored by a new moviegoing concept from Austin, Texas-based theater chain Alamo Drafthouse Cinema. The Aronson’s 214 units will be available as single-family, duplex or triplex configurations. Amenities will include a clubhouse, fitness center, pool, playgrounds, dog parks and bike parking. The project is anticipated to deliver by 2024. The Aronson will be home to Alamo Drafthouse Cinema + Drive-In, developed via a partnership among Catchlight Entertainment, ITEX and Time Warp. In addition to eight indoor movie screens, with a total of 798 reclining theater seats, the concept also includes a permanent outdoor drive-in theater with a beer garden and parking for cars and bikes. The Aronson is named for cinema pioneer and Arkansas native Max Aronson, whose screen name was Gilbert “Bronco Billy” Anderson. Aronson starred in several silent films in the early part of the 20th century as Bronco Billy. He also was a producer on “The Tramp,” a film released in 1915 and recognized as one of Charlie Chaplin’s first well-known performances.

February 27, 2023

EnVue-Autograph-Collection-Port-Imperial-Weehawken-New-Jerseyl

Acquisitions Hospitality New Jersey Northeast

JLL Arranges Sale of 372-Room, Marriott-Branded Hotel Portfolio in Weehawken, New Jersey

by Taylor Williams February 27, 2023

WEEHAWKEN, N.J. — JLL has arranged the sale of a 372-room, Marriott-branded hotel portfolio in the Northern New Jersey community of Weehawken. The portfolio comprises the 208-key EnVue Autograph Collection Port Imperial and the 164-key Residence Inn Port Imperial. Both hotels opened within the last five years and are situated along the Hudson River, offering guests ferry access to Manhattan. JLL represented the seller, Veris Residential, in the transaction. Navika Capital Group purchased the portfolio for an undisclosed price.

February 27, 2023

Industrial Leasing Activity New Jersey Northeast

RCF USA Signs 30,000 SF Industrial Lease in Piscataway, New Jersey

by Taylor Williams February 27, 2023

PISCATAWAY, N.J. — Electronics manufacturer RCF USA has signed a 30,000-square-foot, full-building industrial lease in the Northern New Jersey community of Piscataway. The building at 101 Circle Drive N. is situated within the 570,000-square-foot Rutgers Industrial Center and features a clear height of 35 feet, six dock doors and 38 parking stalls. Chuck Fern of Cushman & Wakefield represented the tenant in the lease negotiations. Jason Barton, also with Cushman & Wakefield, represented the landlord.

February 27, 2023

Affordable Housing Development Multifamily North Carolina Southeast

NRP Group Delivers 180-Unit Sundale Flats Affordable Housing Community in Charlotte

by John Nelson February 27, 2023

CHARLOTTE, N.C. — The NRP Group has delivered a 180-unit affordable housing community located in northeast Charlotte at 2019 Aberdale Farm Lane. Dubbed Sundale Flats, the community is reserved for residents earning at or below 80 percent of the area median income (AMI) and comprises three four-story buildings with homes in two-, three- and four-bedroom layouts. Amenities include a fitness center, clubhouse and community lounge, business center, playground, outdoor grill and picnic area, onsite laundry room and onsite parking. Residents will also have access to a 16-foot-wide multi-use path that connects to a larger network of trails and will be part of the 26-mile Cross Charlotte Trail (XCLT). The City of Charlotte, The North Carolina Housing Finance Agency, Inlivian (formerly the Charlotte Housing Authority) and Bank of America provided financing for the project. Leasing is currently underway with a waitlist in progress.

February 27, 2023

Acquisitions Lee & Associates New Jersey Northeast Office

Lee & Associates Brokers Sale of 26,295 SF Office Building in Jamesburg, New Jersey

by Taylor Williams February 27, 2023

JAMESBURG, N.J. — Lee & Associates has brokered the $4.4 million sale of Forsgate Commons, a 26,295-square-foot office building in Jamesburg, a northeastern suburb of Trenton. The building was originally constructed in 1930 as Jamesburg High School and converted to multi-tenant office use in the 1980s. Beth Chezmar of Lee & Associates represented the seller in the transaction, and Dan De Palma of North American Realty represented the buyer. Both parties requested anonymity.

February 27, 2023

Industrial Leasing Activity Office Southeast Virginia

Five New Tenants Sign Leases at 171,000 SF Merritt Business Park in Quantico, Virginia

by John Nelson February 27, 2023

QUANTICO, VA. — Five new tenants will join Merritt Business Park at Quantico Corporate Center, a light industrial campus located along I-95 in Quantico. Three of the businesses — Full Distance Brewing, The Nova Systems and Two Marines Moving — are veteran-owned companies. Full Distance Brewing and Nova Systems will occupy 8,000 and 7,000 square feet, respectively. Merritt Properties has also signed leases with Top Notch Moving Services and The Continuum Group. Top Notch will take over 15,000 square feet, and Continuum will lease 7,200 square feet at the property, which is comprised of two single-story flex buildings. Both buildings feature 18-foot clear heights, access to a fiber-optic network, loading docks and drive-in capabilities for warehouse users.

February 27, 2023

Acquisitions Florida Multifamily Southeast

Mast Capital, Angelo Gordon Sell 306-Unit Townhome Community Near Miami

by John Nelson February 27, 2023

HOMESTEAD, FLA. — Mast Capital, in partnership with Angelo Gordon, has sold Seascape Pointe, a townhome community located in Homestead, roughly 40 miles southwest of Miami. IMC Equity Group purchased the property for an undisclosed price. Located on 31.7 acres at 1140 S.E. 24th Road, the Seascape Pointe features 54 buildings comprising 306 two-story, direct-access townhomes. Residences range in size from 1,387 square feet to 1,501 square feet in three- and four-bedroom layouts. Amenities include a clubhouse, swimming pool, outdoor fitness area, playground, dog park and 24-hour gated entrance. Mast Capital and Angelo Gordon originally acquired the community as a joint venture in 2020 and instituted capital improvements, as well as the addition of 14 new townhomes.

February 27, 2023

Leasing Activity New York Northeast Restaurant Retail

Tishman Speyer Inks Two Restaurant Deals at The Spiral in Manhattan

by Taylor Williams February 27, 2023

NEW YORK CITY — Tishman Speyer has inked deals with chef Gabriel Kreuther and his business partners to open two new restaurants at The Spiral, the locally based real estate giant’s 65-story office tower in Manhattan’s Hudson Yards district. One concept will be a 5,700-square-foot full-service restaurant serving lunch and dinner that will be located on the corner of 34th Street and Hudson Boulevard. On the corner of 35th Street and Hudson Boulevard, the team will launch an all-day café serving breakfast and lunch. Both openings are slated for 2024.

February 27, 2023

Leasing Activity New Jersey Northeast Office

Cushman & Wakefield Negotiates 18,603 SF Office Lease in Hoboken, New Jersey

by Taylor Williams February 27, 2023

HOBOKEN, N.J. — Cushman & Wakefield has negotiated an 18,603-square-foot office lease at Waterfront Corporate Center I in Hoboken. The 14-story, 566,215-square-foot building is located within a larger, 1.5 million-square-foot complex across the Hudson River from Manhattan. David DeMatteis and Mina Shehata of Cushman & Wakefield represented the tenant, industrial investment firm Faropoint, in the lease negotiations. A partnership between New York City-based developer SJP Properties and private investor David Werner owns Waterfront Corporate Center I.

February 27, 2023

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