Property Type

Related Development to Break Ground on Six Mixed-Use, Multifamily Projects in Florida, Georgia

by John Nelson January 6, 2017

MIAMI — Related Development LLC, a Miami-based mixed-use and multifamily developer and affiliate of The Related Group, has six projects set to begin construction in Tampa, Orlando, Palm Beach County and Atlanta. The Florida projects include the 399-unit Tampa Tribune, a waterfront apartment community located at 202 S. Parker St. in Tampa; Town at Westshore Marina District, a 396-unit mid-rise apartment community located in Tampa’s Westshore district; Town Maitland at Trelago, a 350-unit townhome and Big House multifamily development located in Orlando; and Town Southern, a 392-unit garden-style apartment community located on Southern Boulevard in Royal Palm Beach. In Atlanta, Related Development has two projects planned in Atlanta’s Midtown and Buckhead districts. The developments include a 77,000-square-foot Whole Foods Market, which is Phase II of Related’s 390-unit Apogee Midtown development; and Apogee Buckhead, a 35-story high-rise comprising 362 residential units above three levels of retail and office space.

January 6, 2017

Florida Retail Southeast

Regency Centers Purchases Shopping Center Along Orlando’s ‘Restaurant Row’ for $92.5M

by John Nelson January 6, 2017

ORLANDO, FLA. — Jacksonville, Fla.-based Regency Centers Corp. and its co-investment partner have purchased Plaza Venezia, a 201,000-square-foot, Publix-anchored shopping center in Orlando. The seller and sales price were undisclosed, but Orlando Business Journal reports that U.S. Cities Fund Operating LP, an affiliate of New York-based Team Core Property Funding Operating LP, sold the asset to Regency Centers for $92.5 million. Plaza Venezia is situated along Orlando’s “Restaurant Row,” one of the top trade areas in the market for investors. Plaza Venezia serves the nearby Doctor Phillips and Bay Hill submarkets. In addition to Publix, existing tenants at Plaza Venezia include Eddie V’s Prime Seafood, Starbucks Coffee, Tijuana Flats, Sylvan Learning Center, Majestic Cleaners, State Farm Insurance, Supercuts, Scottrade, T-Mobile and Orlando Family Dentistry.

January 6, 2017

California Retail Western

NewMark Merrill Cos. Completes First Phase of $15M Retail Redevelopment in Inglewood

by Nellie Day January 6, 2017

INGLEWOOD, CALIF. — NewMark Merrill Cos. has completed the first phase of the $15 million redevelopment of Crenshaw Imperial Plaza in Inglewood. The 304,755-square-foot shopping center is located on the southwest corner of Crenshaw Boulevard and Imperial Highway. The first phase includes the remodel of the dd’s Discount and 99¢ Only Stores; converting the ground floor of the office building into retail space; and infrastructure improvements. The second phase will include the remodel of the remainder of the retail center and office building, which will be home to the 15,000-square-foot Mission View Charter School. The second phase is slated for completion by February. The firm has also started on the final phase of redevelopment, which includes the demolition of an obsolete two-story building and the construction of a Planet Fitness and a 14,215-square-foot building that is 100 percent pre-leased. Additionally, NewMark Merrill has secured a $34.4 million senior loan for the recapitalization of the project. PCCP provided the loan, which David Pascale of George Smith Partners arranged.

January 6, 2017

Florida Mixed-Use Retail Southeast

Publix Super Markets Breaks Ground on New Store at Downtown Doral Mixed-Use Development

by John Nelson January 6, 2017

DORAL, FLA. — Publix Super Market has broken ground on a new location at Downtown Doral, a mixed-use development by master developer Codina Partners located roughly 15 miles outside Miami in Doral. The Downtown Doral location will feature an enhanced selection of freshly prepared foods, as well as a large selection of natural and organic food. The new store will be designed with LED lighting technology and energy-efficient refrigeration and air conditioning. An expected opening has yet to be announced. Upon completion, Downtown Doral will feature 70 retail stores and restaurants, 400,000 square feet of Class A office space, 2,840 residential units, a charter elementary school and public green space.

January 6, 2017

Multifamily North Carolina South Carolina Southeast

Greystone Arranges $33M Sale of Two Brookdale Senior Communities in the Carolinas

by John Nelson January 6, 2017

HENDERSONVILLE, N.C. AND SPARTANBURG, S.C. — Greystone Real Estate Advisors has closed the sale of Brookdale Hendersonville in North Carolina and Brookdale Skylyn in South Carolina. A private equity group purchased both properties from Brookdale Senior Living Inc., the largest owner and operator of seniors housing communities in the United States, for $33 million. Brookdale Hendersonville, located in the Asheville suburb of Hendersonville, offers independent living cottages, an independent living clubhouse, an administrative office building and a separate memory care building. Built in 1985 and 1993, the community sits on a total of 21.4 acres of land. Brookdale Skylyn, located in Spartanburg, is an independent living, assisted living, memory care and skilled nursing community. The property consists of two senior living buildings and one skilled nursing building. Built in 1986, the community sits on 17.6 acres of land. Mike Garbers and Cody Tremper of Greystone represented Brookdale Senior Living in the transaction.

January 6, 2017

Industrial South Carolina Southeast

NAI Earle Furman Closes Sale of 203,000 SF Industrial Facility in Metro Greenville

by John Nelson January 6, 2017

FOUNTAIN INN, S.C. — NAI Earle Furman has closed the sale of a 203,000-square-foot industrial facility located within Southchase Industrial Park at 107 Southchase Blvd. in Fountain Inn, about 18 miles southeast of Greenville. The asset is situated on roughly 26 acres off I-385. Caterpillar Inc. sold the asset to Southcase Investors 107 LLC for an undisclosed price. Hunter Garrett, John Staunton and Tom Daniel of NAI Earle Furman represented the buyer, and Cushman & Wakefield | Thalhimer represented Caterpillar in the transaction.

January 6, 2017

California Multifamily Seniors Housing Western

Elder Care Alliance Acquires 135-Unit Independent Living Community in Bay Area

by Nellie Day January 6, 2017

SAN MATEO, CALIF. — Elder Care Alliance has acquired The Villa at San Mateo, a 135-unit independent living community in San Mateo, located between San Francisco and San Jose, for an undisclosed price. The community is located on a 4.5-acre campus. Elder Care partnered with Rockwood Pacific, CBRE and HJ Sims to complete the deal. The transaction marks the first acquisition by Elder Care Alliance, a Bay Area nonprofit operator. The company now serves nearly 700 seniors in five communities throughout California.

January 6, 2017

California Mixed-Use Western

Keegan & Coppin Brokers $5.6M Sale of Mixed-Use Property in San Rafael

by Nellie Day January 6, 2017

SAN RAFAEL, CALIF. — Keegan & Coppin Co./ONCOR International has arranged the sale of a mixed-use property located at 1435 and 1447 Fourth St. in downtown San Rafael. A local investment company acquired the 15,431-square-foot property for $5.6 million. The four-building property features ground-floor retail and apartments on the second floor. At the time of sale, the property was fully leased. Retail tenants include California Sewing and Vacuum and Brazil Marin Café. An adjacent 5,000-square-foot, 27-care parking lot on E Street was included in the sale.

January 6, 2017

California Office Western

Blue Bottle Coffee Co. Signs 10-Year Lease at Robertson Plaza in Los Angeles

by Nellie Day January 6, 2017

LOS ANGELES — Blue Bottle Coffee Co. has signed a 1o-year lease at 120 Robertson Blvd. within Robertson Plaza in Los Angeles. The coffee roaster will occupy 1,400 square feet of ground-level space at the 100,000-square-foot, mixed-use center. Matthew Fainchtein, Carter Magnin, Kazuko Morgan and Carine Mamann of Cushman & Wakefield, along with Jay Luchs and Genny Chang of NGKF, represented the landlord, Robertson Properties Group, in the deal.

January 6, 2017

California Retail Western

Fabletics To Open 12 New Stores in 2017

by Nellie Day January 6, 2017

LOS ANGELES — Fabletics, an activewear brand co-founded by Kate Hudson in 2013, will open 12 new locations in 2017. Following the openings, Fabletics will have 30 locations. The new stores will average just over 2,200 square feet and will open before fall 2017. The first opening will take place in Frisco, Texas, in March 2017 followed by Indianapolis; Lexington, Ky.; Schaumburg, Ill.; Boulder, Colo.; and Portland, Ore., in second quarter 2017. Beginning in July 2017, additional Fabletics stores will open in Scottsdale, Ariz.; Cerritos, San Jose, San Francisco and San Diego, Calif.; and Paramus, N.J.

January 6, 2017

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