Property Type

HSA Commercial, Great Point to Co-Develop 652,000 SF Spec Industrial Facility in Metro Nashville

by John Nelson May 13, 2016

LEBANON, TENN. — HSA Commercial Real Estate has partnered with Boston-based Great Point Investors LLC to co-develop a 652,000-square-foot speculative industrial building at Commerce Farms Business Center in Lebanon, a suburb of Nashville. Situated on 41 acres at the junction of State Route 840 and Highway 109, the distribution center will feature 32-foot clear heights, 116 truck docks, two drive-in doors and parking for 84 trailers and 257 cars. The partnership is scheduled to break ground on the facility later this month, with delivery planned in the first quarter of 2017. HSA Commercial and Great Point Investors have retained NorthStar Real Estate Advisors to oversee the marketing and leasing of the distribution center. The design team includes Chicago-based general contractor Premier Design + Build and architect Harris Architects Inc. HSA Commercial previously partnered with Great Point Investors to build a 220,000-square-foot distribution center near Indianapolis and a 218,500-square-foot spec industrial facility in north suburban Chicago.

May 13, 2016

Georgia Retail Southeast

Southeastern Brokers $49M Sale of Market Walk Shopping Center in Savannah

by John Nelson May 13, 2016

SAVANNAH, GA. — The Southeastern Investment Sales Team has brokered the $49 million sale of Market Walk, a 255,000-square-foot shopping center in Savannah. Built in 2015, the center was 94 percent leased at the time of sale to tenants including Kroger Marketplace, Dick’s Sporting Goods, Buffalo Wild Wing, Jason’s Deli, Chipotle Mexican Grill, Edwin Watts and West Marine. Ryan McArdle, Steve Collins and David Rivers of Southeastern represented the undisclosed seller in the transaction.

May 13, 2016

Georgia Mixed-Use Southeast

Pollack Shores to Redevelop Office Park in Metro Atlanta to Include Multifamily, Retail Uses

by John Nelson May 13, 2016

SANDY SPRINGS, GA. — Pollack Shores Real Estate Group plans to develop 425 apartment units and 10,000 square feet of retail and restaurant space neighboring the Palisades office park in Sandy Springs. Pollack Shores purchased a site adjacent to the office park at 5901 Peachtree-Dunwoody Road for an undisclosed amount. Upon completion, the one-, two- and three-bedroom units will feature plank flooring, kitchen islands, granite and quartz countertops, under mount sinks and pendant lighting. The redevelopment is expected to be complete by winter 2018. Matrix Residential, the multifamily residential management division of Pollack Shores, will manage the residential portion of the property. Pollack Shores is also absorbing most of the costs for infrastructure improvements in the area, including the addition of an east-west connector between Peachtree-Dunwoody Road and Perimeter Center Parkway that will allow traffic to directly access the new 2.2 million-square-foot State Farm Insurance regional headquarters expected to open in late 2016.

May 13, 2016

Guy Fieri’s Smokehouse Fourth Street Live! Louisville

Kentucky Restaurant Retail Southeast

Guy Fieri’s Smokehouse to Open at Fourth Street Live! in Downtown Louisville

by John Nelson May 13, 2016

LOUISVILLE, KY. — The Cordish Cos. has signed a lease with celebrity chef Guy Fieri for his new dining concept, Guy Fieri’s Smokehouse. The new barbecue restaurant will open to the public in September at Fourth Street Live!, a 350,000-square-foot dining and entertainment destination in downtown Louisville. Designed by Boston-based Niemitz Design Group and Louisville-based Bravura Architects, the restaurant will feature 6,700 square feet of dining space, 117 interior seats, 79 outdoor patio seats, two large meat smokers and an indoor/outdoor bar. Other dining concepts at Fourth Street Live! include Birracibo by Junior Bridgeman, Jim Beam Urban Stillhouse, Bourbon Raw, Goose Island Beer Bridge, Gordon Biersch Brewery Restaurant, Brazeiros Churrascaria Brazilian Steakhouse and Eddie Merlot’s.

May 13, 2016

Florida Office Southeast Top Stories

Flea World Demolition Clears Way for $300M Reagan Center Mixed-Use Development Near Orlando

by Nellie Day May 13, 2016

SANFORD, FLA. — Demolition work has commenced on Flea World, the one-time home of “the nation’s largest flea market under one roof,” in Sanford approximately 25 miles north of Orlando. The 118-acre site is being cleared to make way for Reagan Center, a mixed-use project that could eventually include as much as 2.4 million square feet of offices, restaurants, retail stores, apartments and townhomes. The property is situated on U.S. Route 17 at Ronald Reagan Boulevard and County Home Road. The 34-year-old flea market space is situated directly across from the Seminole County Government Operations Center, the courthouse and Seminole State College. Reagan Center’s construction will kick off a 20-year effort by the municipalities of Seminole County, Sanford, Lake Mary, Winter Springs, Longwood and Casselberry to create an economic development corridor along Route 17. “Reagan Center will create employment opportunities for thousands of Central Floridians over the next decade and will be a major economic engine,” says Paul Partyka, partner at NAI Realvest in Orlando and the broker of record for the $300 million development. “Because of its location, size and economic impact, Reagan Center will rank as one of Florida’s benchmark development projects.” Hastings Homes is carrying out the …

May 13, 2016

Market Reports Retail Texas Texas Market Reports

The Grocery List: What’s Impacting the Market in Texas

by Haisten Willis May 13, 2016

Grocery stores are always getting a better understanding of the priorities of their core customers. Convenience, value and service are the top reasons people shop where they shop. However, those priorities are expanding. The focus has shifted away from simply providing a “one size fits all” solution toward a customized strategy to attract a cross-section of customers — from the everyday shopper to experienced foodie. By doing so, retail spaces are successfully opening across the state at an elevated rate, addressing growing customer demand while navigating the ever-changing market. Here are five items impacting grocery stores in our state. Educated Customers Customers are becoming more educated about the products they buy. Their expectations are changing. Retailers are finding creative ways to successfully addressing them. To increase revenue and margins, drug stores are getting into the mix, with mixed results. Established chains like Walgreens and CVS/Pharmacy are renovating over 400 locations, with increased emphasis on rebranding their drug stores as health/wellness retailers and expanding the grocery items kept in stock. Big box stores, like Walmart, are also making changes as they try to refine their market strategies. The company announced that approximately 102 of its smaller Walmart Express stores will be …

May 13, 2016

Industrial New York Northeast

SunCap Property Group to Develop 248,370 SF Industrial Build-to-Suit in New York

by Amy Works May 12, 2016

MONTGOMERY, N.Y. — SunCap Property Group is developing an industrial build-to-suit facility on 44.1 acres at 201 Neelytown Road in Montgomery. The developer has selected Meridian Design Build to design and construct the 248,370-square-foot property, which will serve as a package sorting and distribution center for a leading provider of global shipping and information services. The facility will feature 63 loading docks, seven drive-in doors, 184 interior van loading positions, 452 auto parking stalls and 190 exterior trailer stalls. Additionally, the freestanding gateway building will be constructed to provide a secure entry point into the site. Cornerstone Architects is serving as architect, while Langan is providing civil engineering services for the project.

May 12, 2016

Loans Multifamily New York Northeast

JDS Development Receives $52M Construction Loan for Apartment Development in Brooklyn

by Amy Works May 12, 2016

NEW YORK CITY — JDS Development has received $52 million in construction financing for an apartment building in Brooklyn’s Park Slope neighborhood. Located at the corner of Baltic Street and Fourth Avenue, the 11-story building will feature 50 apartment units and ground-floor retail space. The property is slated for completion by summer 2017. Douglas Heitner, Sara Saylor, Jessica Wald and Christina Congdon of Kasowitz represented the borrower in the financing transaction.

May 12, 2016

Multifamily New Jersey Northeast

KRE Group, Mark Built Homes Break Ground on 135-Unit Multifamily Property in New Jersey

by Amy Works May 12, 2016

MADISON, N.J. — The KRE Group and Mark Built Homes have broken ground on a multifamily development on Green Village Road in Madison. The development will feature Rose Hall, a collection of 100 rental residences, and Madison Place, a boutique collection of 35 condominiums. Additionally, Rose Hall will include ground-floor retail and restaurant space, a 3,000-square-foot community center and landscaped outdoor gathering spaces. The project is slated for completion in second quarter 2017. KRE and Mark Built Homes jointly acquired the five-acre property, which is the former site of Green Village Road School, in January from the Madison Board of Education.

May 12, 2016

Loans Multifamily New York Northeast

JLL Secures $29M Construction Loan for 38-Unit Multifamily Property in Brooklyn

by Amy Works May 12, 2016

NEW YORK CITY — JLL has secured a $29 million construction loan on behalf of Adam America Real Estate for the development of 308 North Seventh Street, a multifamily property in Brooklyn’s Williamsburg neighborhood. Aaron Appel and Keith Kurland of JLL arranged the loan, which was provided by CapitalSource. The seven-story development will feature 38 residential units, a fitness center, a courtyard, bike storage and rooftop common area with views of Manhattan and Brooklyn. Additionally, the building will provide access to the L and G subway lines, as well as the Brooklyn-Queens freeway and Citi Bike stations.

May 12, 2016

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