Property Type

East Cherokee Village Shoppes 6236 Holly Springs Parkway Woodstock

Transwestern Brokers $13M Sale of Publix-Anchored Center in Metro Atlanta

by John Nelson February 1, 2016

WOODSTOCK, GA. — Transwestern’s Southeast investment services group has arranged the $13 million sale of East Cherokee Village Shoppes, a Publix-anchored shopping center located at 6236 Holly Springs Parkway in Woodstock, a northern suburb of Atlanta. New Orleans-based PMAT Cos. acquired the 128,667-square-foot property for roughly $101 per square foot from a private seller. The asset was developed in 2003. Fred Victor and Kevin Markwordt of Transwestern represented the seller in the transaction.

February 1, 2016

Florida Office Southeast

JLL Arranges 66,000 SF Office Lease at Meridian Premier Center in Tampa

by John Nelson February 1, 2016

TAMPA, FLA. — JLL has completed a 66,000-square-foot office lease at Meridian Premier Center, a 103,521-square-foot, Class A office center in Tampa’s affluent Carollwood neighborhood. The tenant is Comprehensive Health Management Inc., a provider of administrative services for health maintenance organizations. Jim Moler and Deana Beer of JLL represented the landlord, Meridian Development Group, in the lease deal. David Johnson, Liz Osborne and Jimmy Garvey of Cushman & Wakefield represented the tenant. Built in 1997 and renovated in 2014, Meridian Premier Center was 96 percent leased following Comprehensive Health Management’s lease.

February 1, 2016

Hospitality Kentucky Southeast Top Stories

Omni Breaks Ground on $289M Omni Louisville Hotel in Kentucky

by Jeff Shaw February 1, 2016

LOUISVILLE, KY. — Omni Hotels & Resorts has broken ground on the 612-room Omni Louisville Hotel, the brand’s first property in Kentucky. The hotel will be located at Liberty and 2nd Street in downtown Louisville, one block from Kentucky International Convention Center. Development costs for the public-private project are estimated at $289 million. The 30-story hotel is set to open in early 2018. “Today was much more than just breaking ground on the Omni Louisville Hotel,” Louisville Mayor Greg Fischer said at the groundbreaking ceremony. “Today’s groundbreaking is symbolic of the future transformation of our city and the prosperity yet to come. This hotel will not only help bolster our reputation as a leading meetings and leisure destination, but will serve as a cornerstone where our downtown community can connect.” Amenities at the hotel will include an all-day dining venue, lobby lounge, and rooftop pool bar and grill, in addition to Bob’s Steak & Chop House. The top floors will also feature 225 luxury apartments. The property will provide approximately 70,000 square feet of flexible meeting and event space, a fitness center, spa and speakeasy with a bowling alley. A grocery store is set to open adjacent to the hotel, …

February 1, 2016

Louisiana Market Reports Retail Southeast Southeast Market Reports

New Orleans’ Retail Market Continues to Thrive 10 Years After Hurricane Katrina

by John Nelson February 1, 2016

New Orleans recently celebrated a significant milestone: the 10-year anniversary of Hurricane Katrina making landfall. Those familiar with the area’s commercial real estate market agree that the city continues to thrive in and around the metro area. Despite a low vacancy rate and shortage of commercial opportunities in downtown proper, competition is fierce for quality properties, and new-to-market retailers have moved into the area. From the market downtown to the immediate suburbs and surrounding parishes, the Big Easy is well-positioned for continuous, steady growth. Sharing a border with New Orleans, Jefferson Parish is the most populous parish in the state. Veterans Memorial Boulevard is a six-lane thoroughfare in Jefferson Parish, which remains the primary retail development corridor in the market with the 120-store Lakeside Shopping Center. One of the most desirable spans of commercial real estate, the seven-mile stretch of highway runs from the airport to the intersection of Jefferson Parish and Orleans Parish. After scouring the market for several years, Trader Joe’s recently announced its first New Orleans metro area store in one of the last undeveloped tracts on Veterans Memorial Boulevard. Another grocery retailer, The Fresh Market, opened its first Jefferson Parish store in July. In addition, the …

February 1, 2016

Multifamily Northeast Rhode Island

CBRE/NE Brokers $59.7M Sale of 300-Unit Apartment Complex in Rhode Island

by Amy Works January 29, 2016

WEST GREENWICH, R.I. — CBRE/New England has arranged the sale of Grandeville at Greenwich, a garden-style apartment community located in West Greenwich. The Wolff Company acquired the property from Grandeville at Greenwich LP, an affiliate of Lecesse Development, for $59.7 million. The community features 300 apartment units in a mix of one-, two- and three-bedroom layouts with an average size of 1,321 square feet. Community amenities include a great room, media room, business center, gym with a kid’s room, an outdoor pool with sundeck, a tot lot, carports, garages and gas grills. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the transaction.

January 29, 2016

Multifamily New York Northeast

Morgan Acquisitions Acquires Two Multifamily Properties in New York for $33M

by Amy Works January 29, 2016

PAINTED POST AND CAMILLUS, N.Y. — Morgan Acquisitions LLC has acquired two multifamily properties in New York for a total of $33 million. Erastus LLC and Archimedes Associates LLC sold the 286-unit Emerald Springs in Painted Post for $22 million, or $77,000 per unit; and the 146-unit Steeplechase Apartments in Camillus for $11 million, or $75,000 per unit. Located at 12 Pond View Court in Painted Post, Emerald Springs features 38 residential buildings, a fitness center, outdoor swimming pool, tennis courts, basketball courts, playground, grilling and picnic areas, 150 carports and 48 garages. Located at 5625 W. Genesee St. in Camillus, Steeplechase Apartments features 17 two-story buildings, a clubhouse, a swimming pool, tennis courts, 48 carports and 23 garages. Victor Nolletti, Steve Witten and Still Hunter represented the seller and procured the buyer in the transaction. J.D. Parker, also of Marcus & Millichap, served as broker of record for the deal.

January 29, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Negotiates $21.5M Sale of Two Properties in Manhattan

by Amy Works January 29, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of two properties located at 126-128 E. 13th St. and 123 E. 12th St. in Manhattan’s East Village neighborhood. Ultimate Realty sold the properties to an undisclosed buyer for a total of $21.5 million. The 15,600-square-foot property on 13th Street is currently leased by Peridance, a dance studio, until March 2028 with a five-year option, while the 4,804-square-foot property on 12th Street features ground-floor retail space and a three-bedroom duplex apartment with a private rooftop on the upper floor. James Nelson and Matthew Nickerson of Cushman & Wakefield represented the seller in the transaction.

January 29, 2016

Loans Multifamily New York Northeast

Meridian Capital Arranges $16.3M Loan for Multifamily Loft Building in New York City

by Amy Works January 29, 2016

NEW YORK CITY — Meridian Capital Group has arranged a $16.3 million mortgage on behalf of Park Avenue South LLC for the refinancing and consolidation of its senior and mezzanine debt secured by a multifamily property located at 220 Park Ave. South in New York City. Allan Lieberman of Meridian Capital secured the five-year financing, which was provided by a local savings bank, features a 3 percent fixed rate. Built in 1990, the nine-story property features 38 loft-style apartment units and 2,650 square feet of ground-level and mezzanine retail space, which is currently occupied by Haru, a Japanese restaurant.

January 29, 2016

New York Northeast Retail

Picone Construction Completes 12 Gates Brewing Co. Facility in New York

by Amy Works January 29, 2016

WILLIAMSVILLE, N.Y. — Picone Construction has completed the construction of 12 Gates Brewing Co. at 80 Earhart Drive in Williamsville. The brewery is designed as a production facility and tap room with light fare and snacks. Project work included select demolition, carpentry, millwork, concrete reinforcement and foundations, building insulation and metal roofing, door and frames, storefront, glass and glazing, drywall and acoustic, floor sealing, wall protection, signage, food service equipment, painting, plumbing, process piping systems, cooler installs, HVAC and electrical.

January 29, 2016

Catalon-at-Lago-Mar-Apartments-Texas-City-Texas

Multifamily Texas

Oldham Goodwin Group, MGroup to Develop Apartment Community in Metro Houston

by Haisten Willis January 29, 2016

TEXAS CITY, TEXAS — Oldham Goodwin Group and MGroup will co-develop a multifamily project in the Lago Mar Development in Texas City. Catalon at Lago Mar will be a 230-unit, Class A community located at 6130 Lago Mar Blvd. near I-45. The community will feature a fitness center and outdoor pool. Oldham Goodwin’s development services division, in conjunction with MGroup, will be overseeing the development and construction management of the project. The project team selected FCI Multi-Family Construction to oversee construction. Construction for Catalon at Lago Mar is expected to begin Feb. 1, with a projected completion date in first quarter 2017.

January 29, 2016

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