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GeorgiaOfficeSoutheast

BLT Sells Three Office Buildings Within Atlanta’s Concourse Corporate Center

by Camren Skelton

ATLANTA — Building and Land Technology (BLT) has sold Concourse Buildings I, II and IV within Concourse Corporate Center, a 63-acre office development located in Atlanta’s Central Perimeter submarket. CBRE Global Investors acquired the two eight-story buildings and one four-story building, which encompass nearly half of the 2.2 million-square-foot development. Stamford, Conn.-based BLT originally acquired Concourse Corporate Center in 2015 for nearly $500 million, according to the Atlanta Business Chronicle, and was seeking offers on the project for as much as $580 million. The final sales price was not disclosed. BLT invested in capital improvements to the buildings including lobby and elevator renovations, new conference facilities and added outdoor amenity areas. BLT will retain ownership of the iconic “King and Queen” towers located within Concourse Corporate Center, with plans to implement additional enhancements. BLT has retained Atlanta-based Regent Partners to lease and manage the Concourse buildings on behalf of BLT.

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IndustrialTexas

NAI Partners Secures 22,000 SF Industrial Lease in Metro Houston

by Taylor Williams

PASADENA, TEXAS — NAI Partners has secured a 22,000-square-foot industrial lease at 2915 Pasadena Boulevard in the southeastern Houston metro of Pasadena. The property, which is situated on 1.5 acres, was built on a speculative basis. Clay Pritchett of NAI Partners represented the landlord, Houston Industrial Development One LP, in the lease negotiations. Sarah Hoffman, also of NAI Partners, represented the tenant, machinery manufacturer Stacey Supply Corp.  

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FloridaLoansMultifamilySoutheast

JV Receives $46.4M Construction Loan, Breaks Ground on Apartment Asset in Miami

by Camren Skelton

MIAMI — Pinnacle Housing Group and Ascend Properties have received a $46.4 million construction loan for the development of Oasis at Blue Lagoon, a 272-unit apartment development located at 6650 N.W. 7th St. near Miami International Airport. IBERIABANK arranged the loan. In addition, the companies received a preferred equity investment from Arbor Realty Trust Inc. Oasis at Blue Lagoon will rise adjacent to the master-planned Blue Lagoon commercial park, home to more than 100 corporate office users including FedEx, Sony, Pepsi, Marriott Hotels & Resorts, Novartis, ConAgra Foods and Toyota. The community will include one-, two- and three-bedroom units and feature a two-story clubhouse, fitness center and an infinity pool overlooking Lake Mahar. PHG Builders LLC is the general contractor for the project, and Behar Font & Partners is the architect. The community is expected to open in mid-2019.

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IndustrialSoutheastTennessee

CCL Label, Korsini SAF Open $25M Label Printing Facility in Metro Memphis

by Camren Skelton

COLLIERVILLE, TENN. — Canadian-based label company CCL Label and Turkish specialty label producer Korsini SAF have opened a $25 million in-mold label facility in Collierville, roughly 30 miles southeast of Memphis. The 85,000-square-foot building is located at the Interstate 269/State Road 385/US 72 crossroads, adjacent to CCL Label’s existing 111,000-square-foot production plant. The new facility will produce in-mold labels for the injection molded containers market and will create 130 new jobs. In addition, the facility has the potential for a 36,000-square-foot future expansion.

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CaliforniaRestaurantRetailWestern

Centre Partners Sells Captain D’s Restaurant Chain

by Nellie Day

LOS ANGELES — Centre Partners, a leading middle market private equity firm with offices in Los Angeles and New York, has sold its portfolio company Captain D’s. The buyer and price were not disclosed. Captain D’s is a seafood-themed operator in the quick-service restaurant (QSR) sector. The Captain D’s system consists of 530 restaurants, including 227 franchised and 303 company-owned locations in 21 U.S. states, with established strongholds in the Southeast and Midwest. Founded in 1986, Centre Partners has invested over $2 billion of equity capital in more than 75 transactions since its inception.

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GeorgiaRetailSoutheast

Franklin Street Brokers $13.9M Sale of Kroger-Anchored Center in Metro Atlanta

by Camren Skelton

DACULA, GA. — Franklin Street has arranged the $13.9 million sale of Mountain Crossing, a 93,396-square-foot retail center in Dacula, roughly 25 miles northeast of downtown Atlanta. John Tennant and Bryan Belk of Franklin Street arranged the transaction on behalf of the buyer, Phillips Edison Grocery Center REIT II Inc., and the seller, Mountain Crossing Associates LLC. Kroger anchors the center, which was 97 percent leased at the time of sale to tenants including Great Clips, The UPS Store, Wells Fargo, a nail salon, cleaners and restaurants.

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OfficeTexas

HSM Arranges Two Office Leases Totaling 4,560 SF in Metro Dallas

by Taylor Williams

PLANO, TEXAS — Henry S. Miller Brokerage Co. (HSM) has arranged two office leases totaling 4,560 square feet at Hunters’ Glen Office Complex, a 21,250-square-foot office property located at 5509 Pleasant Valley Drive in Plano. The Sentry Marketing Group LLC leased 2,160 square feet and dental practice Hossain Dezham & Associates leased 2,400 square feet. Jim Breitenfeld and Jim Turano of HSM represented the landlord, First Avanti Partners LLC, in the lease negotiations.

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CaliforniaOfficeWestern

Stanton Road Capital, Second City Buy 89,000 SF Office Building in Los Angeles for $35.5M

by Nellie Day

LOS ANGELES — A joint venture between Stanton Road Capital and Second City has purchased an 89,000-square-foot office property in the Los Angeles submarket of El Segundo for $35.5 million. The building is located at 898 Sepulveda Blvd. The office space is 98 percent leased. The property includes a six-level parking structure that is leased to Central Parking. The building was constructed in 1979 and renovated in 2000. The JV plans to enhance the building, provide creative office space and extend the parking garage’s master lease. NKF’s Kevin Shannon, Ken White and Michael Moore represented the seller, TA Associates, in this transaction. The firm also arranged financing on behalf of the buyer.

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IdahoLoansMultifamilySeniors HousingWestern

Ziegler Arranges $17.6M Bond Financing for Nonprofit Seniors Housing Operator in Idaho

by Nellie Day

IDAHO — Ziegler, a specialty investment bank, has closed $17.6 million in bond financing Valley Vista Care Corp., a nonprofit operator of seniors housing communities in Idaho. Valley Vista Care Corp. and Valley Community Housing combine to operate 147 skilled nursing beds, 59 assisted living units and 35 units for residents with mental illness and developmental disabilities. Proceeds from the bonds will be used to refund prior bonds, pay for improvements to two facilities, create a reserve fund and pay bond issuance expenses.

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CaliforniaOfficeWestern

Premier Business Centers Opens 14,950 SF Beverly Hills Office Space

by Nellie Day

BEVERLY HILLS, CALIF. — Premier Business Centers has opened its third flexible U.S. workspace in the Wilshire/Palm building in Beverly Hills. The company has signed an 8.5-year lease with John Hancock Life Insurance Company to create a new flexible, shared office space center on the building’s fifth floor. The 14,950-square-foot space is located at 9171 Wilshire Blvd. It will occupy the former Rothstein Kass and Company accounting firm space.

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