Property Type

Beacon Partners to Build 15-Acre Mixed-Use Project in Charlotte’s South End Neighborhood

by John Nelson January 29, 2019

CHARLOTTE, N.C. — Beacon Partners, a Charlotte-based mixed-use developer, plans to build a 15-acre project in Charlotte’s South End neighborhood. Named LoSo Station, the project will include more than 500,000 square feet of creative office space, 30,000 square feet of retail and restaurants, 350 multifamily residences and a 150-room boutique hotel. The master plan also calls for rooftop entertainment, meeting space, outdoor retail plazas and other athletic amenities for tenants and residents. The transit-oriented development will be situated at the Scaleybark station for the LYNX Blue Line light rail system, as well as along Charlotte Rail Trail, a 3.5-mile long public trail for walking, biking and scooter access through South End. South End is an up-and-coming neighborhood in Charlotte, with nearby attractions including Queen Park Social, Victory Brewery and OMB (The Olde Mecklenburg Brewery). “The LoSo Station master plan is such a unique and rare opportunity to plan and develop a transit-oriented development at the convergence of South End and ‘LoSo,’” says Mike Harrell, senior partner at Beacon Partners, referring to the lower portion of South End (LoSo). “We are looking forward to bringing forth the mixed-use amenities that will enhance and complement the already existing business and merchant base …

January 29, 2019

Acquisitions Civic District of Columbia Southeast

Freedom Forum Sells Newseum Building in D.C. to John Hopkins University for $372.5M

by Alex Tostado January 28, 2019

WASHINGTON, D.C. — Freedom Forum has sold 555 Pennsylvania Ave., the building that houses Newseum, to John Hopkins University for 372.5 million. The private research university plans to use the 475,000-square-foot property as a consolidated center for its D.C.-based graduate programs. Freedom Forum is the creator and primary funder of Newseum, and in August 2017 announced that it was open to multiple options to fund or sell the museum focused on increasing public understanding of the importance of a free press and the First Amendment. Newseum will remain open through the end of the year.

January 28, 2019

Acquisitions Retail Southeast Tennessee

Branch, Crosland Southeast Sell One Bellevue Place in Nashville to MetLife for $93M

by Alex Tostado January 28, 2019

NASHVILLE, TENN. — Branch Properties LLC and Crosland Southeast have sold One Bellevue Place, a 355,240-square-foot power retail village in Nashville’s Bellevue neighborhood. MetLife acquired the asset for $93 million. Located at 7620 Highway 70 South, the shopping center is part of a redevelopment of the former Bellevue Center mall that now includes retail, entertainment venues, hotel rooms, office space, residential units and the training facility for the NHL’s Nashville Predators. The retail asset is anchored by Carmike Cinemas, Burlington Coat Factory, Sprouts Farmers Market, HomeGoods, Michaels, Ross Dress for Less, PetSmart, Off Broadway Shoes, Ulta Beauty and Kirkland’s. In December, Southeast Real Estate Business reported that Novel Bellevue Place, the 337-unit residential community within One Bellevue Place, was sold. CBRE represented the sellers in the transaction.

January 28, 2019

Acquisitions Multifamily North Carolina Southeast Student Housing

Preiss, Nuveen Acquire 525-Bed Student Housing Community Near North Carolina State

by Alex Tostado January 28, 2019

RALEIGH, N.C. — A joint venture between The Preiss Co. and Nuveen Real Estate has acquired Signature 1505, a 525-bed student housing community located near North Carolina State University in Raleigh. The property offers one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, fitness center and 24-hour study and conference areas. Terms of the transaction and the seller were undisclosed.

January 28, 2019

Leasing Activity Multifamily North Carolina Southeast

CBRE Arranges $33M in Acquisition Financing for Newly Built Apartment Complex in Durham

by Alex Tostado January 28, 2019

DURHAM, N.C. — CBRE Capital Markets has arranged $33 million in acquisition financing to Chaucer Creek Capital LLC for 54 Station, a 264-unit apartment community that was delivered in 2018. The buyer plans to add a 24-unit building, bringing the total number of buildings to 12 and the unit count to 288. Kristen Reilly and Nate Sittema of CBRE Capital Markets’ Debt & Structured Finance team arranged a bridge loan for the borrower through MF1, a mortgage REIT focused on the multifamily sector. Amenities at 54 Station include a swimming pool, outdoor kitchens, fitness center and a fire pit with lounge seating.

January 28, 2019

Development Florida Retail Southeast

Alamo Drafthouse Cinema to Anchor Phase III of Orlando Retail Development

by Alex Tostado January 28, 2019

ORLANDO, FLA. — O’Connor Capital Partners has signed Alamo Drafthouse Cinema to be the anchor tenant of the third phase of Vineland Pointe, a 450,000-square-foot retail development in Orlando. Phase III is expected to be complete in 2020, Phase II is on schedule to open by this holiday season and Phase I was delivered in December. This will be Austin, Texas-based Alamo Drafthouse Cinema’s first Florida location and will offer a 10-screen theater with 942 recliners, a full-service bar and a restaurant. The retail project is situated adjacent to Orlando Vineland Premium Outlet Mall, and is being designed by Eleven18 Architecture, with Harris Civil Engineers serving as project engineer.

January 28, 2019

Acquisitions Massachusetts Multifamily Northeast

NKF Negotiates $123.2M Sale of Apartment Tower in Boston

by David Cohen January 28, 2019

BOSTON — NKF has negotiated the $123.2 million sale of Serenity, a 195-unit apartment building in Boston. Located in the Jamaica Plain neighborhood of Boston, Serenity was completed in 2017 and features a two-story, dual-entrance lobby, lounge, elevated pool deck, private courtyard and fitness center. Michael Byrne, Thomas Greeley, Casey Griffin, Devlin Man and Andrew Herald of NKF’s Boston Capital Markets team represented the seller, Longwood Group, in the transaction. The buyer was Oxford Properties Group.

January 28, 2019

Acquisitions Industrial Northeast Pennsylvania

Endurance Real Estate Acquires Distribution Facility in Pennsylvania for $23.7M

by David Cohen January 28, 2019

BENSALEM, PA. — Endurance Real Estate Group has acquired 450 Winks Lane, a 430,373-square-foot warehouse and distribution center in Bensalem for $23.7 million. The property is currently 97 percent leased to three tenants, National Refrigeration Inc., Rolled Metal Products Inc. and Brenner Aerostructures LLC. Gerry Blinebury, Gary Gabriel, Kyle Schmidt and Jonas Skovdal of Cushman & Wakefield represented the seller, Ivy Realty LLC, in the transaction. Built in 1973 and renovated in 2018, the property includes clear heights of up to 40 feet, LED lighting, 38 dock-high loading doors and six drive-in doors. National Refrigeration, Rolled Metal Products and Brenner Aerostructures utilize the facility for manufacturing, warehousing and distribution.

January 28, 2019

Leasing Activity Office Texas

Salesforce Signs Lease at 420,000 SF Office Tower in Dallas

by Taylor Williams January 28, 2019

DALLAS — San Francisco-based software company Salesforce has signed a lease at The Union, a mixed-use property located at 2300 N. Field St. in Dallas that includes a 420,000-square-foot office tower and a 31-story residential building. The square footage of space was not disclosed, but Salesforce has confirmed it to be at least 100,000 square feet. According to brokers, the deal was the largest office lease executed in Uptown Dallas when it closed in late 2018. Clay Vaughn and Preston Lynn of CBRE represented Salesforce in the lease negotiations. John Brownlee, Gini Rounsaville and Brooke Oliver of Peloton Commercial Real Estate represented the landlord. The lease brings The Union to 90 percent occupancy. The office component of The Union opened in October 2018. The entire development is expected to be complete by spring 2019.

January 28, 2019

Acquisitions Retail Texas

SRS Arranges Sale of 171,318 SF Shopping Center in San Antonio

by Taylor Williams January 28, 2019

SAN ANTONIO — SRS Real Estate Partners has arranged the sale of Military Crossing, a 171,318-square-foot shopping center in San Antonio. Anchored by Academy Sports + Outdoors, the center was 99 percent occupied at the time of sale to tenants such as BioLife Plasma Services, Harbor Freight Tools, Chase and Firehouse Subs. LA Fitness is also an anchor tenant at the center, but that property was not included in the sale. Webb Sellers, Kyle Stonis, Matthew Mousavi and Patrick Luther of SRS represented the seller, Santikos Real Estate, in the transaction. Eric Lehman of Lehman Real Estate represented the buyer, Nooner Holdings.

January 28, 2019

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