Property Type

Rockefeller Group, WestRock Break Ground on Distribution Center for Gerber Childrenswear in Charleston

by John Nelson August 10, 2015

CHARLESTON, S.C. — The Rockefeller Group and WestRock Land and Development (formerly MWV Community Development and Land Management) have broken ground on a 477,000-square-foot distribution center in Charleston. The companies are developing the center on behalf of Gerber Childrenswear LLC, a children’s apparel company whose licensed brand portfolio includes Gerber, Jockey, New Balance and NFL. The company’s proprietary brands include Onesies Brand and Always Baby. The new distribution center will double Gerber’s footprint in the Charleston metropolitan area. The new facility will be located in the 400-acre Rockefeller Group – MeadWestvaco Foreign Trade Zone/Charleston industrial campus in Berkeley County. Peter Fennelly and Simons Johnson of Colliers International’s Charleston office represented Gerber Childrenswear in the transaction. Evans General Contractors is the general contractor for the project. The new distribution center is slated for a January 2016 completion.

August 10, 2015

Alabama Multifamily Southeast Student Housing

CA Student Living to Build Student Housing Community in Auburn

by John Nelson August 10, 2015

AUBURN, ALA. — CA Student Living will begin development soon on a six-story mixed-use development named The Jackson near Auburn University. The development will include approximately 7,500 square feet of first-floor retail with student housing on the five upper floors. The Jackson will feature 126 units, or 456 beds, with two-, three-, four- and five-bedroom floor plans. Amenities at The Jackson will include a pool, bike parking and a parking deck that includes two subterranean levels and two levels of above-ground parking. The property is currently owned by Badger Downtown LLC and occupied by Center Court Apartments, which will be demolished to make way for The Jackson.

August 10, 2015

Florida Office Southeast

Cushman & Wakefield Brokers $10.2M Sale of Office Building in Fort Myers

by John Nelson August 10, 2015

FORT MYERS, FLA. — Cushman & Wakefield has brokered the $10.2 million sale of Forum Corporate Park II, a 60,777-square-foot, Class A office building located at 9160 Forum Corporate Parkway in Fort Myers. The office building is positioned within The Forum at Fort Myers, a 706-acre master-planned development. Rick Brugge, Mike Davis and Michael Lerner of Cushman & Wakefield, along with Robert Brooks of Songy Highroads, represented the seller in the transaction. The buyer was Holden Properties. The three-story suburban office building is currently 82.3 percent leased to tenants such as Verizon, Prudential Insurance and Regus.

August 10, 2015

North Carolina Retail South Carolina Southeast

The Shopping Center Group Brokers $9.9M Sale of Two Shopping Centers in the Carolinas

by John Nelson August 10, 2015

ROCK HILL, S.C. AND HIGH POINT, N.C. — The Shopping Center Group has arranged the sale of two grocery-anchored neighborhood centers in the Carolinas — Belleview Square in Rock Hill and Fairfield Square in High Point. The 77,800-square-foot Belleview Square sold for $5.8 million. The shopping center is anchored by Super BI-LO and was 90 percent leased at the time of sale to tenants such as Cricket Wireless, Papa John’s, HomeSmart Lease-To-Own and Albright’s Liquor Store. The 71,000-square-foot Fairfield Square sold for $4.1 million. The shopping center is anchored by Food Lion and was 100 percent leased at the time of sale to tenants such as Radio Shack, Family Dollar and Donut World. An affiliate of New York-based Juster Development sold both assets to an affiliate of Richmond, Va.-based Hackney Real Estate Partners. Anthony Blanco, Lenard Williams, Darrell Palasciano and Mallory Ham of The Shopping Center Group marketed both properties.

August 10, 2015

California Multifamily Seniors Housing Western

TeamHealth to Acquire Skilled Nursing Provider IPC Healthcare for $1.6B

by Nellie Day August 10, 2015

NORTH HOLLYWOOD, CALIF. — Team Health Holdings Inc. (NYSE: TMH), a provider of outsourced physician staffing solutions for hospitals, will acquire IPC Healthcare Inc. (Nasdaq: IPCM), a post-acute provider, in an all-cash transaction totaling approximately $1.6 billion. The boards of directors of both companies have approved the transaction. The purchase price represents $80.25 per IPC share based on the closing cost on Aug. 3. Knoxville-based TeamHealth suggests the addition of IPC’s service network will increase the company’s reach. With 15,000 healthcare professionals nationwide, the combined company will have more capability to manage patient care and influence outcomes across the continuum of care. North Hollywood-based IPC currently provides services in approximately 2,000 post-acute facilities in 28 states. Accounting for operational overlap, TeamHealth expects to realize $60 million in cost savings during the first three years. The transaction, which is expected to close during the fourth quarter of 2015, is subject to regulatory approval and customary closing conditions. Citi is serving as financial advisor to TeamHealth and providing the committed financing in connection with the transaction. MTS Health Partners is also serving as financial advisor to TeamHealth. Simpson Thacher & Bartlett LLP is serving as TeamHealth’s legal counsel. Credit Suisse is serving …

August 10, 2015

Arizona Retail Western

Glendale Market Square in Glendale Sells for $24.6M

by Nellie Day August 10, 2015

GLENDALE, ARIZ. — Lee & Associates has arranged the sale of Glendale Market Square, a 221,388-square-foot shopping center, for $24.6 million. The center is located at 5850 W. Bell Road. The buyer was CIRE. Ian Fincham and Patrick Dempsey of Lee & Associates worked on behalf of both the buyer and seller.

August 10, 2015

Colorado Retail Western

Cushman & Wakefield Arranges $20.1M Sale of City Center Marketplace

by Nellie Day August 10, 2015

AURORA, COLO. — Cushman & Wakefield has arranged the $20.1 million sale of City Center Marketplace, a 234,255-square-foot shopping center located in the Denver suburb of Aurora. The center is home to tenants including 24 Hour Fitness, Office Depot, Sherwin Williams, DaVita and Family Dollar. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller, a Colorado-based private partnership, in the transaction.

August 10, 2015

California Retail Western

Clarion Partners Acquires 294,428-SF Portfolio in San Diego

by Nellie Day August 10, 2015

SAN DIEGO — A comingled fund managed by New York-based Clarion Partners has acquired a 294,428-square-foot portfolio from the McGrath Family located in San Diego. The 29.1-acre portfolio consists of six single-tenant leased retail properties and one retail strip center. At the time of sale, the portfolio was 100 percent occupied by tenants including Walmart, LA Fitness, McDonald’s, Food 4 Less, Starbucks Coffee, Verizon and Chipotle. Randy LaChance and Mark Caston of Voit Real Estate Services represented the seller, and Clarion was self-represented in the transaction.

August 10, 2015

Arizona Retail Western

DTZ Arranges $13.7M Sale of Pioneer Shopping Center

by Nellie Day August 10, 2015

YUMA, ARIZ. — DTZ has arranged the $13.7 million sale of Pioneer Shopping Center, a 140,610-square-foot shopping center located in Yuma. Ryan Schubert, Michael Hackett, Dan Salley and Jack Wilson of DTZ represented the seller, Realty Resolution Advisors LLC, and Sanford Burstyn of Marcus & Millichap represented the buyer, Los Angeles-based Pioneer Shopping Center LLC, in the transaction. Tenants at the center include 99 Cents Only, O’Reilly Auto Parts, Applebee’s, Subway, The UPS Store and Dairy Queen.

August 10, 2015

Florida Industrial Market Reports Southeast Southeast Market Reports

International Trade, Population Growth Allow Miami’s Industrial Market to Thrive

by John Nelson August 10, 2015

Miami, the “Gateway to Latin America and the Caribbean,” boasts one of the strongest industrial markets in the nation, with over 200 million square feet of industrial space serving one of the fastest-growing metropolitan areas in the United States. Stronger-than-average population and employment growth count among the region’s chief demand drivers, along with robust international trade, a booming housing market and a globally acclaimed tourism industry. South Florida’s population is expected to grow by 100,000 people annually over the next five years, while the region also has the fourth-highest job growth rate in the nation. As a result, demand for housing and consumer goods is rising, creating a very dynamic industrial development, leasing and sales environment. Significant and ongoing investment in South Florida’s seaports, airports and intermodal transportation infrastructure is giving investors and businesses confidence in the long-term growth of the region. On the infrastructure front, there is the highly publicized, $2 billion expansion of PortMiami, one of the busiest ports in the U.S. for container traffic. The project includes a deep dredge, the addition of several post-Panamax gantry cranes, an intermodal/freight rail linkage, and a new truck/freight tunnel. Once completed this year, PortMiami will be the only port south …

August 10, 2015

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