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OfficeSouth CarolinaSoutheast

Holder Properties to Develop Blackbaud’s New Corporate Campus in Charleston

by John Nelson

CHARLESTON, S.C. — Blackbaud, a Charleston-based cloud software provider for nonprofits and similar organizations, has selected Holder Properties to develop the company’s new corporate campus in Charleston. Blackbaud’s new campus will consist of a two-phase project situated on 13 acres in the Daniel Island community. Phase I will consist of a four-story, 172,000-square-foot office building and a 650-space surface parking lot located at the corner of Fairchild and Central Island streets. The site is planned to accommodate a second phase expansion for up to 175,000 square feet of additional office space. Construction began in October and Blackbaud will occupy the building upon its completion in the first quarter of 2018. The project team includes architect ASD and general contractor Balfour Beatty. Lee Allen, Chase Monroe, Graham Summers, Denice Michel and John Robinson of JLL represented Blackbaud in the transaction.

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MississippiSoutheastStudent Housing

Joint Venture to Develop Student Housing Community Near Ole Miss in Oxford

by John Nelson

OXFORD, MISS. — A joint venture between Homestead Development Partners, Columbus Pacific and Kayne Anderson Real Estate Advisors is set to develop HELiX Oxford, a 790-bed student housing community located near the University of Mississippi in Oxford. The property will offer one-, two- and four-bedroom, fully furnished flats and townhomes. Community amenities will include a circular, beach-entry pool; a health and fitness center with cross fit space, multipurpose yoga studio and cardio and weight equipment; study labs devoted to individual, small and large group study; an interactive gaming center; media center; event space; and a summer kitchen. The project is scheduled for completion in fall 2018. The architect for the development is Charlan Brock and Associates, and Childs Dreyfus Group will be in charge of interior design. The project team includes general contractor The Construction Enterprises Inc., engineer Williams Engineering Consultants and landscape architect Dalhoff Thomas Design Studio. Asset Campus Housing has been tapped to manage the property upon completion.

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FloridaMultifamilySoutheast

CREC Brokers $36.2M Sale of The Ellington in Miami Gardens

by John Nelson

MIAMI GARDENS, FLA. — CREC has brokered the $36.2 million sale of The Ellington, an apartment and condominium residential property located on County Line Road in Miami Gardens. Included in the sale were 260 apartments and 87 condominiums with the 412-unit community, which was built in 1974. Peter Mekras represented the undisclosed seller, a repeat client of CREC’s. The buyer, a private investor, was self-represented in the transaction.

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255-huguenot-st-new-rochelle-ny
MultifamilyNew YorkNortheast

HFF Closes $148.5M Sale of 25-Story Apartment Building in New Rochelle, New York

by Amy Works

NEW ROCHELLE, N.Y. — HFF has facilitated the sale of La Rochelle, a 25-story luxury apartment building located at 255 Huguenot St. in New Rochelle. Boston-based DSF Group acquired the 412-unit property from 255 Huguenot Street Corp. for $148.5 million. The property features 43 studios, 142 one-bedroom, 185 two-bedroom and 42 three-bedroom units, including loft-style apartments and penthouse suites. Additionally, the building features 6,000 square feet of ground-floor retail space, a 422-space parking garage and rights for the development of an additional 40-story residential tower. On-site amenities include an outdoor swimming pool with sundeck, clubroom with fireplace, conference room, state-of-the-art fitness center, yoga room and a landscaped courtyard with grilling area. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Andrew Scandalios of HFF represented the seller in the transaction.

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New JerseyNortheastRetail

Urban Edge Properties to Acquire Hudson Mall in Jersey City for $43.7M

by Amy Works

JERSEY CITY, N.J. — Urban Edge Properties has entered into a $43.7 million contract to acquire Hudson Mall, a retail center located in Jersey City. Developed in 1966, the 383,000-square-foot property is occupied by Marshalls, Toys R Us, Staples and Old Navy, among other retailers. The acquisition is expected to close in the first quarter of 2017 and includes the assumption of a $23.8 million, 5.07 percent mortgage maturing in 2023. The name of the seller was not released.

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LoansNew YorkNortheastOffice

Meridian Capital Secures $30M in Financing of Office Property in Manhattan

by Amy Works

NEW YORK CITY — Meridian Capital Group has arranged $30 million in financing for the refinance of an office property located at 264-268 W. 40th St. in Manhattan’s Garment District. The 10-year loan, provided by a national balance sheet lender, features a competitive fixed rate of 3.5 percent. Avi Weinstock, Josh Rhine and Luke Hingson of Meridian secured the financing for the borrower, Renaissance Properties. The 20-story, 120,000-square-foot office building is occupied by 40 tenants, including two restaurants as retail tenants.

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HospitalityMassachusettsMixed-UseMultifamilyNortheastRetail

Related Beal Tops Off Parcel 1B in Downtown Boston

by Amy Works

BOSTON — Related Beal has topped off Parcel 1B, a residential, retail and hospitality development in downtown Boston. Designed by CBT Architects, the 484,000-square-foot property will feature 239 affordable and workforce apartment units, 10,000 square feet of street-level retail space, 220 parking spaces and a Courtyard by Marriott. Operated by Turnberry Associates, the 220-room hotel will feature 2,500 square feet of meeting space. Situated within Boston’s Bulfinch Triangle, the property is located in close proximity to public transportation.

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2111-route-37-manchester-nj
New JerseyNortheastRetail

Marcus & Millichap Arranges $1.6M Sale of Retail Property in Manchester, New Jersey

by Amy Works

MANCHESTER, N.J. — Marcus & Millichap has brokered the sale of a retail property located at 2111 Route 37 West in Manchester. A limited liability company acquired the 9,790-square-foot property for $1.6 million. Known as GreenTree at Manchester, the property comprises a two-tenant, two-building retail center with a ground lease to STS and a lease to Spirits Express. David Thurston and Charles Loccisano of Marcus & Millichap represented the seller, a limited liability company, and the buyer in the deal.

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MidwestMinnesotaMixed-Use

CBRE Arranges $315M Sale of 1.6 MSF Mixed-Use Complex in Minneapolis

by Kristin Harlow

MINNEAPOLIS — CBRE has arranged the sale of 33 South Sixth-City Center, a 51-story office tower and mixed-use complex in downtown Minneapolis. The sales price was not disclosed, but Minneapolis Star Tribune reports the price at $315 million. Located at 33 South Sixth St. alongside the Nicollet Mall, the 1.6 million-square-foot complex is currently 95 percent occupied. Target Corp. occupies 73 percent of the office tower on a long-term lease. Tom Holtz, Ryan Watts, Judd Welliver and Sonja Dusil of CBRE’s Minneapolis office represented the seller, Shorenstein Properties LLC. HNA Holding Group Co., a subsidiary of conglomerate HNA Group, was the buyer.

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IndianaMichiganMidwestRestaurantRetailWisconsin

FCPT Acquires 16 KFC Restaurant Properties for $21.1M

by Kristin Harlow

INDIANA, MICHIGAN AND WISCONSIN — Four Corners Property Trust (NYSE: FCPT) has acquired 16 properties net leased to KFC in Indiana, Michigan and Wisconsin for $21.1 million. The restaurants are occupied under new triple-net leases with 20-year terms. Seven of the properties are under a master lease and nine properties are under individual leases. FCPT funded the acquisition with proceeds from its revolving line of credit and from a 1031 exchange sale of a property in Florida occupied by Bahama Breeze.

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